FBI report reveals seniors lost $4.8 billion to scams in 2024
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The digital age has brought us countless conveniences, but with those conveniences come risks—risks that can be costly, especially for seniors.
A recent FBI report has shed light on a troubling trend: in 2024 alone, seniors in the United States lost a staggering $4.8 billion to scammers.
This figure is part of a larger total of $16.6 billion lost to internet crime in the same year, marking a 33% increase from 2023.
Christopher Delzotto, the section chief of the FBI's Criminal Investigative Division, emphasized the personal impact of these statistics.
“Every number in this report represents a real person, a victim whose trust was betrayed, whose financial security was compromised and whose voice deserves to be heard,” he said during a conference call.
Investment scams topped the list of fraudulent activities, with victims being lured into putting money into ventures promising returns that seem too good to be true.
Over the past five years, the public has lost a total of $50.5 billion to such scams.
The FBI's report also highlighted the prevalence of cyber fraud, with an average of 836,000 reports filed each year.
On average, victims lost at least $20,000. In 2024, the FBI received 47,919 investment fraud complaints, leading to almost $6 billion in losses.
Other common scams included business email compromise scams, which netted $2 billion, and technology support scams, which tricked individuals out of more than $1 billion.
Toll scams, involving fake outstanding toll bills, and emergency scams, where scammers pose as a distressed relative, also caused significant financial harm.
The report revealed that people ages 50-59 suffered the second-highest losses, totaling $2.5 billion. The states of California, Texas, and Florida experienced the most significant financial damages.
FBI officials noted that the actual numbers might be even higher, as many victims are too embarrassed to report being scammed.
This underreporting contributes to a silent crisis, leaving many seniors suffering in silence and scammers free to continue their deceitful practices.
As a member of the senior community, you have the wisdom and experience to navigate life's challenges, but even the savviest among us can fall prey to sophisticated scams.
Know more ways to protect yourself from scammers:
Have you or someone you know been targeted by a scam? What measures have you taken to protect yourself? Share your experiences and tips in the comments below. Your insights could help a fellow reader avoid a financial disaster.
A recent FBI report has shed light on a troubling trend: in 2024 alone, seniors in the United States lost a staggering $4.8 billion to scammers.
This figure is part of a larger total of $16.6 billion lost to internet crime in the same year, marking a 33% increase from 2023.
Christopher Delzotto, the section chief of the FBI's Criminal Investigative Division, emphasized the personal impact of these statistics.
“Every number in this report represents a real person, a victim whose trust was betrayed, whose financial security was compromised and whose voice deserves to be heard,” he said during a conference call.
Investment scams topped the list of fraudulent activities, with victims being lured into putting money into ventures promising returns that seem too good to be true.
Over the past five years, the public has lost a total of $50.5 billion to such scams.
The FBI's report also highlighted the prevalence of cyber fraud, with an average of 836,000 reports filed each year.
On average, victims lost at least $20,000. In 2024, the FBI received 47,919 investment fraud complaints, leading to almost $6 billion in losses.
Other common scams included business email compromise scams, which netted $2 billion, and technology support scams, which tricked individuals out of more than $1 billion.
Toll scams, involving fake outstanding toll bills, and emergency scams, where scammers pose as a distressed relative, also caused significant financial harm.
The report revealed that people ages 50-59 suffered the second-highest losses, totaling $2.5 billion. The states of California, Texas, and Florida experienced the most significant financial damages.
FBI officials noted that the actual numbers might be even higher, as many victims are too embarrassed to report being scammed.
This underreporting contributes to a silent crisis, leaving many seniors suffering in silence and scammers free to continue their deceitful practices.
As a member of the senior community, you have the wisdom and experience to navigate life's challenges, but even the savviest among us can fall prey to sophisticated scams.
Know more ways to protect yourself from scammers:
- Discover the smart scam alert that could protect your bank account!
- Phone call from family? WAIT! Verify before you believe
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