JACKSONVILLE, Fla. – Financial losses from elder fraud schemes skyrocketed by 43% in 2024, with Americans over 60 losing nearly $5 billion to scammers, according to the Federal Bureau of Investigation.
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The FBI reported about 150,000 complaints of various schemes targeting seniors across the United States, highlighting a growing trend that combines traditional scam tactics with emerging artificial intelligence technologies.
“They still come from a generation that answered their phones,” said Clayton LiaBraaten, Senior Executive Advisor at Truecaller, a platform that helps verify contacts and block unwanted communication. “The fraudsters and criminals know that they will pick up the phone, and they are not only accomplished technologists, but they are also very seasoned psychologists. They really understand how to craft a con to get people hooked.”
The FBI’s Internet Crime Complaint Center identifies several prevalent scam types targeting seniors:
- Tech support scams
- Romance and confidence schemes
- Investment fraud
- Government impersonation scams
While artificial intelligence tools can help combat fraud, criminals increasingly weaponize the same technology to create more convincing scams. These sophisticated schemes can now mimic familiar voices and utilize personal information to appear legitimate.
“The technologies we all enjoy - the LLMs, the ChatGPTs - they are also being weaponized against us, so you really need to pay attention to that,” LiaBraaten warned.
The FBI recommends several key steps to protect older Americans from falling victim to these schemes:
- Never share personal information with unverified contacts
- Research any business or person making unsolicited contact
- Resist pressure to act quickly on financial requests
- Be cautious of unsolicited calls
If you believe you are a victim of fraud or know a senior who may be, the FBI said to report the incident to your local field office or other law enforcement agency:
- by calling 1-800-CALL FBI, or
- online at tips.fbi.gov or
- to the Internet Crime Complaint Center at ic3.gov.
LiaBraaten said you can also register your or a loved one’s number with the Federal Trade Commission’s “Do Not Call Registry” to cut down on some of the calls, even from legit businesses.
You can find out more about the Truecaller app at www.truecaller.com/
