Cyber scams targeting seniors are sharply on the rise, with those over the age of 60 suffering more than $3.4 billion in total losses in 2023, marking an 11% increase from the previous year. This alarming statistic comes from the FBI’s 2023 Elderly Fraud Report, which was released to highlight the growing issue and enhance awareness. According to the report, the most common types of fraud affecting seniors include tech support scams, investment and cryptocurrency scams, personal data breaches, and confidence and romance scams.
Laura Eimiller, an FBI public affairs specialist, notes that cybercriminals continue to leverage our dependency on technology to launch a variety of attacks, often targeting the elderly due to their perceived vulnerability. The report details that tactics used by these criminals include phishing, spoofing, extortion, and various types of web-based fraud. This has led to a significant number of elderly Americans facing not only financial loss but also severe emotional and psychological distress, with some even driven to remortgage homes or exhaust their savings.
In 2023 alone, the FBI’s Internet Crime Complaint Center (IC3) received over 101,068 complaints from seniors, indicating a 14% increase from the previous year. However, the FBI believes that the actual number of cyber scams could be much higher, as many incidents go unreported due to victims’ embarrassment. The most severe financial impacts were noted in populous states like California and Florida, which recorded the highest losses, approximately $620 million and $181 million respectively.
In response to these threats, the FBI has ramped up its cybersecurity measures and training more than ever before, aiming to stay a step ahead of attackers. They advise seniors to practice good cyber hygiene, such as updating anti-malware and antivirus software, and to be skeptical of unsolicited phone calls, emails, or messages. The FBI also encourages anyone who believes they have been a victim of a cyber scam to report it immediately, either through their local FBI field office or the IC3, emphasizing the importance of quick reporting in mitigating damage and potentially catching the perpetrators.
