Following World Elder Abuse Awareness Day on Saturday, June 15, the Federal Bureau of Investigation is continuing to draw attention to the increasing issue of elder fraud.
Recent data published by the FBI’s Internet Crime Complaint Center shows there has already been $1.6 billion in losses from the start of the year to May, a notable increase in comparison to this time last year, up by nearly $300 million. In 2023, elder fraud complaints rose 14% from the previous year, resulting in $3.4 billion in losses by the end of the year.
The most common scams include tech support scams, confidence and romance scams, investment scams, and government impersonation scams.
To protect against these threats, the FBI suggests the following:
Search online for the contact information (name, phone number, email, addresses) of any unknown source that reaches out to you, as well as the proposed offer. Verify the legitimacy of businesses on websites such as Better Business Bureau. Other people have likely posted information online about businesses and individuals attempting to run scams.
Resist the pressure to act quickly. Scammers create a sense of urgency to lure victims into immediate action, typically by instilling trust and inducing empathy or fear, or the promise of monetary gains, companionship, or employment opportunities.
Be cautious of unsolicited phone calls, mailings, and door-to-door service offers.
Never give or send to unverified people or businesses any personally identifiable information, money, checks, gift cards, or wire information.
Take precautionary measures to protect your identity should a criminal gain access to your device or account. Immediately contact your financial institutions to place protections on your accounts and monitor for suspicious activity.
If you believe you or someone you know may have been a victim of elder fraud, contact your local FBI office or submit a complaint on IC3.gov. The FBI says in these cases, you should document the name of the scammer/company and methods of contact, dates of contact, methods of payment, where funds may have been sent, and a thorough description of the interactions.
Source: WBKO
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