what age group according to the fbi consider the age for getting scammed?

Reports of financial crimes confronting the elderly are on the rise:

Older people are swindled out of more than than $3 billion each year.
More three.5 million older adults are victims of financial exploitation each yr.
Seniors targeted by fraudsters endure an average loss of $34,200.

People of whatsoever age group can be targeted past scammers. However, those over the age of 60 are often more than vulnerable, and victims over fourscore report fifty-fifty higher financial losses.

Financial loss past age group

Losses from fraud aren't compatible across age groups, and older people tend to lose more money due to fraud than younger people. In 2019:

People ages 20 to 59 had lower median losses than older people.
Those who were 70 to 79 suffered a median loss of $600.
For adults over 80, the median loss is $1,600.

twenty nineteen median individual monetary loss reported by age

Top financial scams targeting seniors

According to the Federal Trade Commission (FTC), the types of fraud older Americans are most likely to autumn victim to are:

Online shopping scams
Tech support scams
Imposter scams
Romance scams
Sweepstakes scams
Other scams

The Federal Merchandise Committee also keeps records of how these scams are carried out:

Scam telephone calls: 16,000 cases reported a loss, with a median cost of $1,500.
Online theft: 10,000 cases reported a loss, with a median toll of $395.
Consumer-initiated contact: 6,000 cases reported a loss, with a median toll of $300.
Email scams: 4,000 cases reported a loss, with a median cost of $500.
Mail fraud: 1,000 cases reported a loss, with a median cost of $i,800.

Based on this data, phone calls announced to be the medium of option for scammers. The Federal Communications Committee (FCC) estimates there are most 2.iv billion robocalls made each month. Robocalls often utilise spoofed area codes to appear like they are calling from the victim's local expanse or with the caller ID of a authorities agency. Typically, an automated bulletin will and then inform the victim that they owe money or need to take immediate activeness on an issue.

top fraud types in twenty nineteen by total dollars lost

1. Online shopping scams

Although online shopping is the almost widely reported type of fraud amongst older Americans, people over the age of 60 study fewer dollars lost here than with many other types of fraud. Still, people over threescore reportedly lost at least $xiv one thousand thousand from online shopping scams final year.

While the net has get many people's primary means of shopping, it's also become dwelling to scammers posing as online retail stores. Sometimes these websites will appear legitimate, and the domain proper noun may even be a slight modification of a well-known brand. Consumers are often lured into these sites by their depression prices, but the products they annunciate are drastically different from what'south received — if the buyer gets anything at all.

Information technology can exist hard to identify these scams, though. Attempt reading reviews about the visitor on third-party websites, and be wary if an online merchant asks you to pay in an unconventional way, like with a coin order or wire transfer.

two. Computer tech support scams

Tech back up scammers tell victims their computers have problems or viruses that they can help resolve. They then brand money by request victims to pay for services that aren't needed. In 2019, tech back up scammers stole $24 meg from victims over lx.

Sometimes, these scammers call people directly, alarm about "computer problems," but the most common way tech back up scammers connect with victims is online. On certain websites, pop-upwards warnings may appear, warning users of a virus or security upshot on their computers. Though the bulletin sounds urgent and may utilise official-looking logos, it'southward simply a style to trick the user into making contact and sending coin.

Often, tech scammers claim they are from a well-known company like Microsoft or Apple. Notwithstanding, most major tech companies say they do not contact customers well-nigh these bug. When these popular-ups announced, simply close out the tab and ignore the alert.

Scammers may also ask for remote access to your computer. While legitimate figurer care companies may do this to resolve technical problems, you shouldn't grant remote access if y'all oasis't vetted whoever's on the other terminate.

3. Imposter scams

Imposter scams tin can take many forms — fraudsters may pose as officials from government agencies, banks, friends or family unit members to play a trick on people into revealing bank business relationship numbers, passwords and other personal data.

Family unit imposter scams

In family imposter scams, fraudsters pose as a loved one either past creating an online profile that looks like them or hacking personal emails or social media accounts. They volition frequently merits an emergency has left them in desperate demand of coin and request an immediate transfer of funds.

If a family fellow member is asking you lot to ship them money online, it's of import to vet the person you lot're talking to and ask them questions only your loved one would know. Information technology's too important to avoid sending money immediately. Scammers bank on your fear and anxiety, but if you accept a moment to call your relative directly, y'all can confirm if they really need your help.

Government imposter scams

Of those who report regime imposter scams, only 6% say they lost money, according to the FTC. People over the age of 80 suffered a median loss of $2,700 in these types of scams, though.

Seniors are often targeted considering they usually have good credit.

Social Security Assistants imposter scams

Social Security imposters may tell victims that their SSN has been linked to criminal action and/or suspended. The scammer volition claim they can reactivate the number once the victim confirms their SSN. Other Social Security scams may tell victims their benefits are eligible for an increase and asking that they confirm their proper noun, date of birth and SSN. Both of these approaches are ploys to proceeds admission to personal information that can be used to admission private accounts and personal finances.

Actual representatives from the Social Security Administration won't enquire for your SSN over the phone, nor will they initiate contact if you oasis't recently been in touch with them. Warnings of arrest, the break of your Social Security number or the loss of benefits are likewise signs that the notice is a scam.

Internal Revenue Service imposter scams

Some other one of the virtually prominent government scams is IRS impersonation. This type of scam usually involves calling victims directly and telling them they owe taxes that, if not paid, could lead to their arrest or other legal action. The scammer's goal is to intimidate victims into immediately sending the requested money or providing personal data, similar bank account or Social Security numbers.

The Department of the Treasury recommends immediately hanging upwardly if you receive a telephone call matching these characteristics. If there's an issue with your taxes, the IRS volition typically send a discover in the postal service first. The IRS as well will never inquire for personal financial information similar PINs, passwords or credit card numbers.

The Treasury Inspector General for Tax Administration (TIGTA) reported that united states with the most losses due to IRS scams are:

California: Over $10 million lost
New York: Over $4 million lost
Texas: Over $4 million lost
Illinois: Over $three one thousand thousand lost
Florida: Over $two million lost

TIGTA has been working to thwart the efforts of these scammers by sending cease-and-desist messages, asking phone companies to shut down the numbers committing these crimes, publishing telephone numbers associated with this fraud and educating the public on identifying these scams.

four. Romance scams

In 2020, total reported losses to romance scams hit a loftier of $304 one thousand thousand, making them the leading cause of fraudulent financial loss across all age groups. Romance scams have been increasing significantly in recent years, thanks to the growing popularity of online dating. Since 2016, the reported number of romance scams has nigh tripled. Though older people are the least vulnerable age group to romance scams, people ages 70+ had the highest median loss from this type of fraud, at $ix,475.

… people ages 70+ had the highest median loss from this blazon of fraud, at $ix,475."

Typically, a romance scammer will create a fake profile on dating sites or social media, so reach out to vulnerable people and develop a human relationship through chatting or texting. Scammers more often than not make excuses for why they can't run into in person. COVID-nineteen facilitated these excuses for scammers; the FTC cited that some scammers said they were unable to run across due to a COVID-xix test.

At some indicate, romance scammers ask their victims for money. Souvenir cards are condign a more mutual medium to receive funds, with reports of souvenir card requests increasing by lxx% final year. The FTC too warns that, in some cases, scammers may send money to victims starting time then ask for it dorsum, usually suggesting the scammer is harboring stolen funds.

To avert losing money to romance scams, people should never send money to someone they haven't met in person. Additionally, a reverse image search of the pictures on a suspicious profile tin identify if their photos are stock photography or of someone else.

5. Sweepstakes scams

In 2020, the FTC received over 116,000 reports about sweepstakes- and lottery-based scams. Victims of all ages lost a full of at least $166 million, with a median loss of $1,000. According to the Improve Business Bureau (BBB), this type of scam usually targets older people, though.

Sweepstakes fraudsters oftentimes make contact through mail, telephone calls, e-mail or social media. Social media now accounts for one-third of reported lottery scams, co-ordinate to the BBB. In the typical pattern of a sweepstakes fraud, the victim is congratulated on winning a massive amount of money. In society to receive it, though, they must pay a processing fee or tax. The amount the scammer asks for will vary, merely if someone pays it, they will ordinarily call asking for more money in order to evangelize the prize to them.

True sweepstakes more often than not state "no purchase necessary," and winners should never be asked to send money to claim their prize. Legitimate lotteries like Mega Millions or Powerball sell tickets, only they volition never accuse participants money to receive their prizes.

six. Other types of financial scams

Timeshare sale and resale scams, investment scams and wellness insurance scams ordinarily are prevalent among people over 60. Timeshare sale and resale scams conned over $thirty million full from people over the age of lx in 2019. People in this age group also reported $25 million in full losses from investment scams.

In other scams, criminals may appear in person and claim they can repair any result in the victim'south house. These scammers will ask for advance payment but either never render or steal victims' identities.

Fraudsters are e'er finding new methods to fox people into giving them money. Whether or not the method is listed hither, it's important to exist skeptical of anyone who is asking for accelerate or immediate payment, especially via souvenir card or wire transfer. When in doubt, don't send any of the requested money, and talk to someone you trust nigh the potential scammer who contacted you lot.

For more than, find out what consumers need to know almost identity theft, how to detect the best identity theft protection services and how to find the best credit monitoring services.

Preventing and responding to financial crimes confronting the elderly

If you've been contacted by a fraudster, whether or non you've lost coin, it's helpful to file a complaint. Groups that respond to these crimes include the Better Business Bureau, the Federal Merchandise Commission and the FBI's Internet Crime Complaint Center.

If you lot've lost money to a scam, it'due south possible to contact your bank or credit/debit carte du jour company and ask them to void the payment. Still, it'due south harder to recover the funds with scams that apply gift cards or wire transfers.

If you were a victim of a scam, other individuals or groups might try to con you again, so don't send money to anyone else calling with a similar suspicious story. You should continue to report these fraud attempts to the appropriate authorities, as well.

Y'all can also add your telephone number to the National Do Not Telephone call Registry. This listing was created in 2003 to reply to a growing number of directly-sales companies bottleneck upwards people's phone lines. Robocallers often ignore whether or not y'all're on this list, but it can still be a good beginning step for reducing these types of calls.

seniors are more likely to report fraud with no money loss

About senior fiscal scam statistics

It's hard to sympathise how widespread fraud is considering the data is often underreported, especially among the senior population. One study in New York State suggested that for every 44 fraud cases, only ane is reported, and data from the Federal Trade Commission suggests seniors are 94% more likely to report fraud attempts if they haven't lost any money. This hesitancy to report can be due to shame and older people not wanting to warning family members about an disability to manage their finances.

Across all historic period groups, the Federal Trade Commission documented 4,720,743 incidents in 2020 alone. Since 2010, the full number of fraud, identity theft and similar reports has increased past 221%. This doesn't necessarily mean that more scams are happening, though — it could suggest that more victims are reporting fraud than in previous years.

Additionally, only virtually one-half of scams reported to the FTC include age information. Among consumers who included their age, at that place were 318,850 reported cases victimizing people over 60, according to the most recent study at the time of publishing.

Lesser line

Seniors are peculiarly vulnerable to fiscal scams because most of them are on a fixed income, co-ordinate to recent elderly poverty statistics. For more info on how to navigate life afterward retirement, explore our elder intendance planning resources.

Article sources

ConsumerAffairs writers primarily rely on government information, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ folio.

Consumer Financial Protection Bureau (CFPB), "Suspicious Activity Reports on Elderberry Fiscal Exploitation: Bug and Trends." Accessed May xx, 2021.
Federal Bureau of Investigation (FBI), "Elder Fraud." Accessed May 9, 2021.
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Market place, "Historic period of fraud: Are seniors more vulnerable to financial scams?" Accessed May 9, 2021.
The Federal Trade Committee (FTC), "Protecting Older Consumers: 2019 - 2020." Accessed May 9, 2021.
AARP, "Social Security Scams." Accessed May 9, 2021.
The Treasury Inspector General for Taxation Administration (TIGTA), "IRS Impersonation Scam." Accessed May 9, 2021.
The Federal Trade Commission (FTC), "Government imposter scams superlative the list of reported frauds." Accessed May 9, 2021.
Better Business concern Agency (BBB), "Sweepstakes, Lottery and Prize Scams." Accessed May 9, 2021.
AARP, "Understanding Computer Security." Accessed May ix, 2021.
The Federal Trade Commission (FTC), "Romance scams take record dollars in 2020." Accessed May ix, 2021.
The Federal Merchandise Committee (FTC), "Scammers Use Fake Emergencies to Steal Your Coin." Accessed May 9, 2021.
U.S. Securities and Commutation Committee (SEC), "FBI and OIEA Warn Public that Fraudsters are Targeting Owners of Timeshares in Mexico." Accessed May 9, 2021.
Department of Financial Protection and Innovation, "Preventing and Reporting Elder Financial Abuse." Accessed May 27, 2021.

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