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Elder Fraud Soars 14% in 2023, Costing Seniors $3.4B

3/28/2025

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Summary

Story summary

Elder fraud complaints surged by 14% in 2023, costing U.S. seniors a staggering $3.4 billion, as reported by the FBI. Arizona topped the list for the highest cases, with tech support and romance scams being the most prevalent. Officials are calling on financial institutions to safeguard seniors and highlight the urgent need for awareness and education to fight back against these deceitful schemes.

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Story summary

Elder fraud complaints surged by 14% in 2023, costing U.S. seniors a staggering $3.4 billion, as reported by the FBI. Arizona topped the list for the highest cases, with tech support and romance scams being the most prevalent. Officials are calling on financial institutions to safeguard seniors and highlight the urgent need for awareness and education to fight back against these deceitful schemes.