Criminals Defrauded Senior Adults of More than $1 Billion in 2020
Senior adults reported losses of more than $1 Billion to fraud in 2020. And according to the FBI Internet Crime Complaint Center, the problem is getting worse each year. However, several cost-effective solutions are now available that enable senior adults to stay connected safely at home and when transitioning to new living situations. According to the 2020 IC3 Elder Fraud Annual Report, more than 100,000 of America's senior adults fell prey to fraudsters with an average loss of $9,175. Nearly 2,000 senior adults lost more than $100,000 each. Many Crimes Go Unreported As horrible as these numbers are, they likely represent only the tip of the iceberg because these numbers are based only on people who reported their losses to the FBI and identified themselves as being more than 60 years old. Many senior adults either remain unaware that they have been defrauded or are too ashamed of having been conned to speak up about it. Unfortunately, some are afraid to report having been ...