OAN’s Abril Elfi
1:17 PM – Tuesday, April 30, 2024
A report released by the FBI stated that last year, in 2023, individuals over the age of 60 in the United States reportedly lost approximately $3.4 billion due to a number of fraud schemes.
On Tuesday, the FBI released the ‘Elder Fraud’ report where the agency detailed the types of schemes that older Americans have fallen victim to.
“Combatting the financial exploitation of those over 60 years of age continues to be a priority of the FBI,” Michael Nordwall, the FBI’s assistant director at the criminal investigative division, said in a statement with the report. “Along with our partners, we continually work to aid victims and to identify and investigate the individuals and criminal organizations that perpetrate these schemes and target the elderly.”
The report also states that the average amount of money lost in 2023, in terms of reported fraud of more than 100,000 people who are over 60 years old, was $33,915, with nearly 6,000 victims losing more than $100,000 each.
The report also stated that it is not just people over 60 that are getting scammed more frequently, but also, more than 300,000 individuals under the age of 60 who have reported being the victim of fraud as well.
The Recovery Asset Team, which can start a “kill chain” and notify financial institutions to freeze funds, is one tool the FBI uses to combat fraud attempts. The Recovery Asset Team was able to freeze more than $32 million of the funds linked to 626 fraud complaints that were submitted by people over 60 in 2023, according to the report.
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