Imposter scams cost older adults $700 million in 2024: FTC
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Criminals are increasingly stealing the retirement and other financial accounts of the elderly Americans with the Federal Trade Commission, the Federal Trade Commission. reported Thursday.
Frauds tend to go as follows: fraudsters are a fake crisis and reliable sources – perhaps a representative such as a bank or Amazon, Apple or Microsoft, or a federal agency such as a social security administration or FTC – a federal agency that can help correct it.
In this process, he said that they were undoubtedly convinced to “keep their victims’ money safe” or to transfer them for another false reason.
In 2024, the FTC received 8,269 reports from adults aged 60 years and older and claimed that he had lost at least $ 10,000 for a fraud deception. According to FTC data, this figure increased by 362% out of 1,790 reports in 2020.
Total losses between elderly Americans 700 million dollars FTC said there was an increase of more than five times in 2024 in 2020 in 2020.
Sometimes, financial damage means all life savings of households.
“60+ Some people have evacuated their bank accounts and even cleaned their 401Ks,” FTC said.
Losses over $ 100,000 700%
Losses between these old adults According to FTC, at least $ 100,000 lost from $ 55 million in 2024 to $ 445 million.
The increase in cancellation frauds follows an increase in the general great fraud reported by the Federal Investigation Bureau.
In 2024, the Internet crime led to 4.9 billion dollars of losses of 147,127 consumer complaints. These figures represent a 43% increase in losses and a leap of 46% in complaints from 2023 onwards, in accordance with FBI’s Internet Crime Complaint Center.
More than personal financing:
What does private assets in 401 (K) plans mean to investors?
Credit card debt has reached $ 1.21 trillion close to the highest level of all time.
Why is the US labor market caused
In June, the FBI said in June, “reported losses are most likely, because elderly Americans are less likely to report fraud, because they don’t know how to report, they don’t know how to be reported, they are ashamed or they don’t know they’re defrauded.”
According to FTC’s 2024 data, losses over $ 100,000 are likely to be reported by adults aged 60 years and over compared to young household people.
How to Avoid Cutter Frauds
A few ways FTC suggested to prevent sacrifice Imposter fraud:
- Do not carry the money to “protect”. Never send or send money, crypto money or gold to anyone you do not know as an unexpected call or message.
- Don’t believe people who tell you to move your money quickly to “protect”. The agency said everyone who says it was a fraud.
- Close the phone and verify. Even if fraud starts online, they usually rely on phone calls at some point of the process. Contact a phone number, website or E -mail address that you know is real. According to FTC, “Do not rely on what an unexpected caller says and never use the phone number in a computer security-opening window or an unexpected text or e-mail.”
- Prevent unwanted calls. Through your carrier, learn about search blocking options that can stop scammers before you reach you.
