Each year, millions of elderly Americans fall victim to some type of financial fraud or confidence scheme, including romance, lottery, and sweepstakes scams—just to name a few.
Criminals will gain their targets’ trust and may communicate with them directly online, over the phone, and/or through the mail; or indirectly through the TV and radio. Once successful, scammers often keep a scheme going because of the prospect of significant financial gain.
Seniors are often targeted because they tend to be trusting and polite. They also usually have financial savings, own a home, and have good credit—all of which make them attractive to scammers.
Additionally, seniors may be less inclined to report fraud because they don’t know how, or they may be too ashamed at having been scammed. They might also be concerned that their relatives will lose confidence in their abilities to manage their own financial affairs. And when an elderly victim does report a crime, they may be unable to supply detailed information to investigators.
With the elderly population growing and seniors racking up more than $3 billion in losses annually, elder fraud has remained a growing problem.
Report Elder Fraud
Visit ic3.gov, the FBI's Internet Crime Complaint Center (IC3), to report elder fraud.
Scammers targeting elder citizens may employ one or more of the following types of schemes:
- Romance scam: Criminals pose as interested romantic partners on social media or dating websites to capitalize on their elderly victims’ desire to find companions.
- Tech support scam: Criminals pose as technology support representatives and offer to fix non-existent computer issues. The scammers gain remote access to victims’ devices and sensitive information.
- Grandparent scam: A type of confidence scam where criminals pose as a relative—usually a child or grandchild—claiming to be in immediate financial need.
- Government impersonation scam: Criminals pose as government employees and threaten to arrest or prosecute victims unless they agree to provide funds or other payments.
- Sweepstakes/charity/lottery scam: Criminals claim to work for legitimate charitable organizations to gain victims’ trust. Or they claim their targets have won a foreign lottery or sweepstake, which they can collect for a “fee.”
- Home repair scam: Criminals appear in person and charge homeowners in advance for home improvement services that they never provide.
- TV/radio scam: Criminals target potential victims using illegitimate advertisements about legitimate services, such as reverse mortgages or credit repair.
- Family/caregiver scam: Relatives or acquaintances of the elderly victims take advantage of them or otherwise get their money.
- Recognize scam attempts and end all communication with the perpetrator.
- Create a shared verbal family password or phrase that only you and your loved ones know.
- Search online for the contact information (name, email, phone number, addresses) and the proposed offer. Other people have likely posted information online about individuals and businesses trying to run scams.
- Resist the pressure to act quickly. Scammers create a sense of urgency to produce fear and lure victims into immediate action.
- Call the police immediately if you feel there is a danger to yourself or a loved one.
- Be cautious of unsolicited phone calls, mailings, and door-to-door services offers.
- Never give or send any personally identifiable information, money, gold or other precious metals, jewelry, gift cards, checks, or wire information to unverified people or businesses.
- Make sure all computer anti-virus and security software and malware protections are up to date. Use reputable anti-virus software and firewalls.
- Disconnect from the internet and shut down your device if you see a pop-up message or locked screen. Pop-ups are regularly used by perpetrators to spread malicious software. Enable pop-up blockers to avoid accidentally clicking on a pop-up.
- Be careful what you download. Never open an email attachment from someone you don't know, and be wary of email attachments forwarded to you.
- Take precautions to protect your identity if a criminal gains access to your device or account. Immediately contact your financial institutions to place protections on your accounts, and monitor your accounts and personal information for suspicious activity.
If you believe you or someone you know may have been a victim of elder fraud, file a complaint at the FBI’s Internet Crime Complaint Center at ic3.gov.
When reporting a scam—regardless of dollar amount—include as many of the following details as possible:
- Names of the scammer and/or company
- Dates of contact
- Methods of communication
- Phone numbers, email addresses, mailing addresses, and websites used by the perpetrator
- Methods of payment
- Where you sent funds, including wire transfers and prepaid cards (provide financial institution names, account names, and account numbers)
- Descriptions of your interactions with the scammer and the instructions you were given
Whenever possible, you should keep original documentation, emails, faxes, and logs of communications.
Inside the FBI Podcast: The Phantom Hacker Scam
On this episode of Inside the FBI, learn about the Phantom Hacker scam—a type of tech support scam that's growing in popularity—and how to avoid becoming its next victim.
Inside the FBI Podcast: Romance Scams
On this episode of Inside the FBI, we discuss romance scams and how you can protect your heart and your bank account.
Inside the FBI Podcast: For the Love of Money
On this episode of Inside the FBI, we discuss how romance scammers talk their targets out of money—including gift cards and cryptocurrency—and how to protect yourself from these schemes.
Inside the FBI Podcast: Hanging Up on Tech Support Scams
On this episode of Inside the FBI, learn how to protect yourself from tech support scammers trying to get access to your wallet and your computer.
Stories
Elder Fraud, in Focus
Elder fraud complaints to the FBI’s Internet Crime Complaint Center (or IC3) increased by 14% in 2023, and associated losses increased by about 11%, according to IC3’s 2023 Elder Fraud Report, released April 30. This annual publication provides statistics about incidents of elder fraud—or fraud that explicitly targets older Americans’ money or cryptocurrency—that are reported to IC3.
Elder Fraud Task Force Targets Grandparent Scams
An Elder Justice Task Force in California illustrates how collaboration between agencies is critical in targeting financial scams against older Americans that cost them billions in losses every year.
Press Releases
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10.02.2024 Indiana Seniors Lose Nearly 38-Millon-Dollars to Fraud
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09.23.2024 Florida Woman Sentenced to Prison for Financially Exploiting Her Grandmother
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09.20.2024 Rochester Woman Arrested, Charged with Bilking Elderly Landlord Out of Tens of Thousands of Dollars
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09.11.2024 Former Birmingham Art Dealer Sentenced to Over Five Years in Prison for Defrauding Elderly Clients
Additional Resources
- IC3 2023 Elder Fraud Report
- IC3 Public Service Announcement on "Phantom Hacker" Scams
- IC3 Public Service Announcement for Older Americans (Video)
- IC3 Elder Fraud Page
- IC3: A Warning About Technical and Customer Support Fraud
- IC3: FBI Warns of a Grandparent Fraud Scheme Using Couriers
- IC3: Perpetrators Use Various Methods to Deceive and Defraud Elderly Victims for Financial Gain
- Victim Support: Older Adult Financial Exploitation Brochure (pdf)
- Department of Justice: Elder Justice Initiative