FBI Cincinnati
Public Affairs Specialist Todd Lindgren
(513) 979-8347
April 30, 2024

FBI Elder Fraud Report Highlights Frauds and Scams Targeting Older Americans

The FBI’s Internet Crime Complaint Center (IC3) today released the 2023 IC3 Elder Fraud Annual Report to call attention to the high levels of frauds and scams impacting seniors over 60 years old.

“Scammers are targeting older Americans at an alarming rate,” stated FBI Cincinnati Special Agent in Charge Elena Iatarola. “While the FBI will continue to investigate these crimes, it is important that we work to prevent them from occurring through education and awareness. The IC3 report helps us understand the types of scams being perpetrated and how to protect our loved ones from becoming victims.”

In 2023, total losses reported to the IC3 by those over the age of 60 topped $3.4 billion, an almost 11% increase in reported losses from 2022. There was also a 14% increase in the number of complaints filed by individuals over 60.

A total of 3,299 Ohio victims 60 or older reported losses of over $64 million to IC3 in 2023. Ohio was ranked sixth in the nation for the number of complaints filed by individuals over 60.

Tech support fraud was the top crime type impacting complainants over 60 in 2023, while investment scams continued to be the costliest to the elderly in terms of financial losses suffered.

Top Reported Frauds in 2023 by Number of Complaints Received:

  • Fraud Type: Tech Support
  • Number of Complaints: 17,696
  • Fraud Type: Personal Data Breach
  • Number of Complaints: 7,333
  • Fraud Type: Confidence/Romance
  • Number of Complaints: 6,470
  • Fraud Type: Payment Non-Delivery
  • Number of Complaints: 6,693
  • Fraud Type: Investment
  • Number of Complaints: 6,443

Top Losses Reported in 2023 in Dollars by Fraud Type:

  • Fraud Type: Investment
  • Losses in Dollars: $1.2 billion
  • Fraud Type: Tech Support
  • Losses in Dollars: $590 million
  • Fraud Type: BEC
  • Losses in Dollars: $380 million
  • Fraud Type: Confidence
  • Losses in Dollars: $350 million
  • Fraud Type: Government Impersonation
  • Losses in Dollars: $180 million

Confidence/Romance scams, which include those designed to prey on an individual’s emotional connection, also ranked high in terms of the number of complaints and the amount reported lost. In 2023, the IC3 received reports from 6,470 individuals over the age of 60 who experienced over $350 million in losses to Confidence/Romance scams. Contained within this category are Grandparent Scams, which occur when a criminal impersonates a panicked loved one, usually a grandchild, nephew, or niece of an older person, claiming to be in trouble and in need of money immediately.

Anyone who believes they may be a victim of a scam or fraud can report it to IC3.gov. The full 2023 IC3 Elder Fraud Annual Report is available here.