In honor of World Elder Abuse Awareness Day on June 15, the FBI El Paso is calling on friends, family and loved ones of older Americans to recognize the signs of elder fraud . As elder abuse can manifest itself in a variety of ways, the FBI has seen a double-digit increase in financial fraud involving older adults, prompting the agency to step up efforts to raise public awareness about it. type of crime.
According to the latest data from the FBI’s Internet Crime Complaint Center (IC3), financial losses have already reached $1.6 billion from January to May 2024, almost $300 million more than the same period last year. In 2023, total losses of $3.4 billion were reported and complaints of senior fraud increased 14% from the previous year. In Texas, total losses in 2023 were $278,320,107.
“Empowering our seniors and their friends and family with education about elder fraud schemes is crucial to protecting them and their hard-earned money,” said Michael Nordwall, Assistant Director of the FBI’s Criminal Investigations Division. “Unfortunately, elder fraud remains one of the most devastating violations we work with at the FBI. The effects of these elaborate schemes go beyond financial losses. They rob an already vulnerable population of their sense of security. “We must all work together to make sure our elders, their caregivers, family and friends know the signs that a criminal is after their money.”
“Elder fraud is being labeled the crime of the 21st century because we are seeing seniors retire with significant assets, making them the most attractive target for criminal elements looking to steal money from unsuspecting individuals,” said John Morales. , Special Agent in Charge of the FBI El Paso Office. “Our mission is to prevent our senior citizens from becoming victims and being deprived of vital financial resources needed to cover basic living expenses.”
Criminal actors frequently target older adults, who they perceive as more vulnerable and trusting. Criminals may also assume that older adults have considerable financial savings, own real estate, have good credit, and are less likely to report fraud, especially if they feel embarrassed after being victimized by fraud or are unaware of reporting channels like IC3. gov.
Among the most common senior fraud schemes reported to IC3.gov in 2023 are tech support scams, trust and romance scams, investment scams, and government phishing scams. From 2021 to 2023, senior victims and dollar losses due to investment scams increased dramatically; Victimization and losses increased by 209% and 419%, respectively, more than any other type of fraud, largely due to the increasing use of cryptocurrencies.
Combating elder fraud remains a priority for the Department of Justice, which operates the Elder Justice Initiative. The Elder Justice Initiative supports and coordinates DOJ’s enforcement and programmatic efforts to combat abuse, neglect, and financial fraud and scams that target our nation’s seniors.
If you believe you or someone you know may have been a victim of elder fraud, contact the El Paso FBI at (915) 832-5000 or file a complaint at IC3.gov. You should document the scammer/company name and contact methods, dates of contact, payment methods, where funds were sent, and a detailed description of interactions. (Staff/El Diario de El Paso)
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Take care of yourself and avoid being another victim…
Although fraud can happen to anyone, small steps can be taken to protect yourself and your information:
– Search online for contact information (name, phone number, email, addresses) of any unknown sources contacting you, as well as the proposed offer. Check the legitimacy of companies on websites like the Better Business Bureau. Other people have probably posted information online about companies and individuals trying to run scams.
– Resist the pressure to act quickly. Scammers create a sense of urgency to lure victims into immediate action, typically by instilling trust and inducing empathy or fear, or the promise of monetary gain, companionship, or employment opportunities.
– Be careful with unsolicited phone calls, emails and offers of door-to-door services.
– Never give or send unverified people or companies personally identifiable information, money, checks, gift cards or wire transfer information.
– Take precautionary measures to protect your identity in case a criminal accesses your device or account. Immediately contact your financial institutions to place protections on your accounts and monitor any suspicious activity.
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