Fraudsters stole greater than $3.4 billion from older Americans last yr, in accordance with a report FBI The report, published on Tuesday, shows an increase in losses as measures change into more sophisticated criminal tactics to make the weak quit their savings.
According to the FBI report, fraud losses reported by Americans over 60 last yr increased 11% in comparison with the previous yr. Investigators are warning of an increase in brazen checking account draining schemes by which couriers are personally sent to gather money or gold from victims.
“It can have a devastating impact on older Americans who are unable to go out and earn money,” said FBI Criminal Investigation Department Deputy Assistant Director James Barnacle. “People are losing all their money. Some people become destitute.”
The FBI received greater than 100,000 complaints from fraud victims over the age of 60 last yr, with nearly 6,000 people losing greater than $100,000. This follows a pointy increase in reported losses amongst older Americans within the two years following the 2020 coronavirus pandemic, when people were stuck at home and were easier for scammers to achieve by phone.
Barnacle said investigators are seeing organized, transnational criminal enterprises targeting older Americans using quite a lot of methods Love scam And Investment fraud.
The mostly reported scam amongst older adults last yr was tech support scams, by which criminals pose as technicians or customer support representatives over the phone. In one such scam, which authorities report is becoming increasingly popular, criminals pose as technology, banking and government officials to persuade victims that foreign hackers have infiltrated their bank accounts and instruct them , that to guard their money they need to transfer it to a brand new account – one which is secretly controlled by the fraudsters.
According to the FBI, between May and December, federal investigators found a surge in scammers using live courier to steal money from victims who were duped into believing their accounts had been compromised. In these cases, fraudsters tell victims that their bank accounts have been hacked and that they should convert their assets into money or purchase gold or other precious metals to guard their money. The fraudsters then commission a courier to select it up in person.
“Many scams ask victims to transfer money via bank transfer or cryptocurrency. If the victim is hesitant to do so, they will be offered an alternative,” Barnacle said. “And so the villain will use courier services.”
Earlier this month, an 81-year-old man from Ohio fatally shot an Uber driver Authorities said he believed he was attempting to rob him after receiving scam calls.
The man had received calls from someone claiming to be a neighborhood court official demanding money. The Uber driver had been told to select up a package from the person’s house. Authorities consider the request could have been made by the identical fraudulent caller or an accomplice.
The staggering losses for older Americans are likely understated. Only about half of the greater than 880,000 complaints reported to the FBI Internet Crime Complaint Center Information in regards to the victim’s age was released last yr.
