Elder fraud has reached epidemic proportions

A recent FBI report shows just how prevalent elder fraud is. In 2023, Americans over 60 submitted 14% more complaints to the FBI’s Internet Crime Complaint Center, or IC3, than they did the previous year. Estimated financial losses rose about 11% over the same period.

These numbers, grim as they are, only represent the tip of the iceberg. For one thing, only about half of the reports of internet crimes to the FBI included information about the victim’s age – which means reported incidents of elder fraud are an undercount.

Read more