Elder fraud tops $3.4 billion as schemes targeting people over 60 rise

People over the age of 60 in the US reportedly lost more than $3.4 billion in fraud schemes in 2023

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A nearly 11% increase from the year before, according to a report from the FBI released Tuesday.

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“Combatting the financial exploitation of those over 60 years of age continues to be a priority of the FBI,” Michael Nordwall

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the FBI’s assistant director at the criminal investigative division, said in a statement with the report.

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It’s not just elderly Americans who fall victim to fraud. The FBI’s report says that, in 2023, more than 300,000 individuals

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More than 300,000 individuals under the age of 60 reported being the victim of fraud as well.

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According to the report, the average amount lost in 2023 in reported fraud of more than 100,000 elderly victims was $33,915

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