"Tech and customer support scams ranked second among older victims at $1.04 billion, followed by confidence and romance scams at $584 million. Scammers typically initiate contact through text messages, social media sites, advertisements, or dating applications and then quickly move the conversation to a messaging platform."
"Artificial intelligence (AI) is giving traditional elder fraud new and dangerous sophistication. The IC3 received more than 3,100 complaints from seniors referencing AI in 2025 with losses exceeding $352 million."
"Victims claimed losses of more than $5 million in 2025 tied to distress scams, where voice cloning technology is used to mimic the sound of a loved one in distress."
"Seniors filed 42,271 complaints amounting to losses of $4.35 billion involving cryptocurrency in 2025, with a 58% increase in losses from 2024."
Older victims lost $1.04 billion to tech and customer support scams, ranking second among fraud types. Scammers often initiate contact via text, social media, or dating apps, moving conversations to messaging platforms. They pose as investment groups offering guidance on cryptocurrency or gold. Business email compromises targeting seniors resulted in $568 million in losses. California had the highest number of complaints and losses. AI is making elder fraud more sophisticated, with significant losses reported in distress scams and cryptocurrency-related incidents.
Read at www.housingwire.com
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