PHILADELPHIA (KYW Newsradio) — With elder fraud cases on the rise, the FBI is sharing ways to protect yourself and your loved ones from becoming the next victim.
According to data obtained by the FBI, $1.6 billion has been reported in financial losses so far this year, a rate that is up nearly $300 million from this time last year.
They say in 2023, elder fraud complaints increased by 14% from 2022, with more than $3 billion in losses reported.
“The effects of these elaborate schemes go far beyond just financial losses,” said Assistant Director Michael Nordwall of the FBI’s Criminal Investigative Division. “It robs an already vulnerable population of their sense of security. We all need to work together to make sure our seniors, their caregivers, families and friends know the signs to look for that a criminal is after your money.”
Those signs include unsuspected calls, messages, or pieces of mail.
They say common fraud attempts include fake tech support, fake investments, or fake relationships developed over time.
The FBI urges people to look up the person or business trying to get their attention to see if they are legitimate. You can do that by navigating to the Better Business Bureau’s website.
Authorities note that some scammers can be aggressive — their advice: end communication with them and do not share personal information or send any money.
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.