The Reality of Senior Fraud in America
Understanding the scope and impact of financial fraud against seniors helps us better protect our communities and loved ones.
US Elder Fraud Impact
The numbers reveal a growing crisis
Lost by US seniors in 2023
101,068 victims reported
Average US loss per victim
Some cases exceed $100,000
Increase from 2022 to 2023
Losses continue rising annually
Of reports don't include age
True victim count likely higher
Detailed US Analysis
FBI IC3 and FTC data reveals the scope
2023 vs 2022
$3.4B in 2023 vs $3.1B in 2022
2021-2023 Trend
From $1.7B in 2021 to $3.4B in 2023
Underreporting
Only half of IC3 complaints include age data
FTC Additional Data
Additional $2B reported to FTC in 2023
Hidden Scale of the Problem
- True losses may range from $7-61 billion annually
- Many victims don't report due to embarrassment
- Family financial abuse often goes undetected
- Cross-border scams complicate reporting
- Some victims unaware they've been scammed
Top Scam Types Targeting US Seniors
Based on 2023 FBI and FTC data
Romance Scams
Average loss: $15,000 per victim
Tech Support
Average loss: $8,500 per victim
Government Imposter
Average loss: $7,200 per victim
Lottery/Prize
Average loss: $5,900 per victim
Why Seniors Are Targeted
- Often have substantial savings and assets
- May be more trusting and polite to strangers
- Less familiar with modern scam techniques
- Often live alone with limited social networks
- May have cognitive decline that affects judgment
Fraud by Age Group
Loss amounts increase with age
States Most Affected
By total reported losses (2023)
Don't Become a Statistic
Knowledge is your best defense against fraud. Request a free presentation to learn how to protect yourself and your loved ones from becoming victims.