At least 101,000 Americans over the age of 60 fell victim to digital fraud last year, with the average person losing $33,915, according to a new FBI report.
According to the report, the largest dollar losses were due to fraud involving Bitcoin and other cryptocurrencies.
Since at least 2018, the FBI's Internet Crime Complaint Center (IC3) has published statistics showing the extent of the impact cybercrime has had on older Americans.
In 2023, the IC3 office received 101,068 complaints from this population. This was an 11% increase over the previous year and was roughly on par with 2020's highest number.
According to IC3, the total loss was approximately $3.4 billion, of which nearly 40% was due to cryptocurrencies alone, amounting to $1.33 billion.
The agency said more than 12,000 victims over the age of 60 said virtual currency was a “vehicle or tool used in furtherance” of the fraud.
In March, the FBI released another report warning of a proliferation of crypto schemes. These often begin as romance or trust scams and evolve into cryptocurrency investment scams, authorities said.
“Offenders use fictitious identities to establish relationships and build trust with their victims,” the report said. “Criminals use dating apps, social media platforms, professional networking sites, and encrypted messaging apps to target their victims.”
In 2023, complaints filed by older victims increased by 14% overall.
“Combatting the economic exploitation of people over the age of 60 continues to be a priority for the FBI,” said Assistant Attorney General Michael D. Nordwall, who heads the bureau's Criminal Investigation Division. “Together with our partners, we continue to work to support victims and identify and investigate the individuals and criminal organizations that carry out these schemes and target older adults.”
Among scam types, call center or tech support scams continue to be the most common type of complaint among people over 60, with almost half of complaints reported by groups and 58% of financial losses reported. I am. In these schemes, scammers pose as customers or technical support representatives from well-known, reputable companies and convince victims that their accounts have been compromised and they need to move their funds.
Victims report selling their homes, emptying retirement accounts, and borrowing from family and friends to cover losses from these scams.
In some cases, shame and loss of sustainable income led to suicide, according to the FBI.
If you or someone you know is in crisis, call 988 to contact the Suicide and Crisis Lifeline. You can also contact the Crisis Text Line by calling the network formerly known as the National Suicide Prevention Lifeline at 800-273-8255, texting HOME to 741741, or visiting You can also SpeakerOfSuicide.com/Resources.
