FBI address rise in elder fraud crime.
The total financial losses in elder fraud cases rose sharply in 2022. Nationwide, the total losses reported to the FBI’s Internet Crime Complaint Center, also known as IC3, increased by 84% in 2022 from 2021.
Those losses were valued at about $3.1 billion with an average of $35,101 per victim. Tech and customer support schemes continued to be the most common type of fraud reported, with 17,800 complaints filed by victims over 60 years old.
Monetary losses due to investment fraud reported by victims over 60 increased by over 300%, primarily due to the rise of crypto-investment scams.
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