This report from the FBI says that each year millions of elderly Americans fall victim to some type of financial fraud or internet scheme, such as romance scams, tech support fraud, and lottery or sweepstake scams. Criminals gain their targets’ trust or use tactics of intimidation and threats to take advantage of their victims. Once successful, scammers are likely to keep a scheme going because of the prospect of significant financial gain. In 2020, the relevant office received a total of 791,790 complaints with reported losses exceeding $4.1 billion. The purpose of the report is said to be to educate the public and provide as much information on the types of frauds targeting seniors as possible.
Among other things, it identifies common frauds affecting the over-60s –
Non-payment/non-delivery and fraudulent products;
Lottery, sweepstakes and inheritance;
Confidence fraud and romance scams;
Tech support fraud;
Government impersonation; and
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