Tuesday May 27, 2025
Jennifer Prell
In yet another troubling sign of growing financial threats to older adults, a recent FBI report reveals that Americans over the age of 60 lost a record $4.9 billion to fraud in 2024. That figure marks a whopping 43 percent spike in reported losses compared to the previous year, underscoring how rapidly scammers are evolving their tactics to target seniors. The report, released by the FBI’s Internet Crime Complaint Center (IC3), highlights a sobering reality: while people of all ages are increasingly impacted by scams and fraud (with a record $16.6 billion last year alone), older adults are increasingly vulnerable to sophisticated and convincing scams — and the emotional and financial damage can be devastating. Per the FBI: “As a group, people over the age of 60 suffered the most losses at nearly $5 billion and submitted the greatest number of complaints.”
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