FBI Miami
Special Agent Willie Creech
(754) 703-2000
June 14, 2024

FBI Highlights Growing Number of Reported Elder Fraud Cases Ahead of World Elder Abuse Awareness Day

MIAMI—In recognition of World Elder Abuse Awareness Day on June 15, FBI Miami wants to remind friends, family, and loved ones of older Americans about the signs of elder fraud. While elder abuse can be perpetuated in any number of ways, the FBI has seen a double-digit increase in financial fraud involving older adults, prompting efforts from the Bureau to bring public awareness to this type of crime.

According to the FBI’s latest Internet Crime Complaint Center (IC3) data, there have already been $1.6 billion in losses from January to May of 2024, up nearly $300 million from the same time period last year. In 2023, a total of $3.4 billion losses were reported, and elder fraud complaints increased by 14% from the year prior. In Florida, total losses in 2023 were over $293 million.

“Empowering our seniors and their friends and family with education surrounding elder fraud schemes is critical to protecting them and their hard-earned money,” said Assistant Director Michael Nordwall of the FBI’s Criminal Investigative Division. “Unfortunately, elder fraud remains one of the most devastating violations we work in the FBI. The effects of these elaborate schemes go far beyond just financial losses. 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.”

“Criminals target our seniors because they tend to be trusting and polite and may be less inclined to report fraud due to embarrassment,” said Jeffrey B. Veltri, Special Agent in Charge, FBI Miami Field Office. “As such, we ask that loved ones have frank discussions with their family members about these frauds. Seniors do the same with their peers. Everyone should watch out for the warning signs of a scam and, if it comes to it, report the elder fraud immediately.”

Among the most common elder fraud schemes reported to IC3.gov in 2023 were tech support scams, confidence and romance scams, investment scams, and government impersonation scams. From 2021 to 2023, elder adult victims and dollar losses to investment scams have sharply increased; victimization and losses increased 209% and 419%, respectively, more than any other kind of fraud, largely because of the rising use of cryptocurrency.

While fraud can happen to anyone, small steps can be taken to protect yourself and your information:

  • Search online for the contact information (name, phone number, email, addresses) of any unknown source that reaches out to you, as well as the proposed offer. Verify the legitimacy of businesses on websites, such as Better Business Bureau. Other people have likely posted information online about businesses and individuals attempting to run scams.
  • Resist the pressure to act quickly. Scammers create a sense of urgency to lure victims into immediate action, typically by instilling trust and inducing empathy or fear, or the promise of monetary gains, companionship, or employment opportunities.
  • Be cautious of unsolicited phone calls, mailings, and door-to-door service offers.
  • Never give or send to unverified people or businesses any personally identifiable information, money, checks, gift cards, or wire information.
  • Take precautionary measures to protect your identity should a criminal gain access to your device or account. Immediately contact your financial institutions to place protections on your account and monitor for suspicious activity.

Combatting elder fraud continues to be a priority for the Department of Justice, which operates the Elder Justice Initiative. The Elder Justice Initiative supports and coordinates the DOJ’s enforcement and programmatic efforts to combat elder abuse, neglect, and financial fraud and scams that target our nation’s seniors.

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. You should document the name of the scammer/company and methods of contact, dates of contact, methods of payment, where funds may have been sent, and a thorough description of the interactions.