"Americans lost at least $16.6 billion to scams in 2024, according to the FBI, and the real number is almost certainly far higher because many victims never report the crime. Much of this crime involves online scams, and although anyone can be a victim, older Americans are frequent targets. Not only do they often have larger nest eggs, but scammers also exploit factors such as trust in what appear to be legitimate institutions, a greater likelihood of answering unknown calls, and, in some cases, less familiarity with newer technologies."
"One of the most common scams is phishing: fake emails, texts, social media messages or phone calls that impersonate legitimate organizations such as banks, Amazon, Microsoft or the IRS. These messages often create a sense of urgency, warning that your account will be suspended, that you may have been a victim of fraud, or that you have a weak password or have already been compromised."
"If you ever receive a message that you think might be legitimate, such as one that appears to be from your bank, contact the company directly or go to its website by typing the address into your browser rather than clicking on any links in the message. Always double-check the web address to make sure it's accurate and not something that only looks similar."
"Romance scams can affect people of any age and often begin on dating apps, social media or even text messages. The scammer typically claims to be overseas or otherwise unable to meet in person while building trust through messages and calls. Once you're emotionally invested, they ask for money."
Americans lost at least $16.6 billion to scams in 2024, though the actual figure is likely much higher due to underreporting. Older Americans over 60 lost more than $4.8 billion, making them frequent targets because they often have substantial savings and are vulnerable to exploitation of trust in legitimate institutions, willingness to answer unknown calls, and potential unfamiliarity with technology. Phishing scams using fake emails, texts, and calls impersonating banks, Amazon, Microsoft, and the IRS are among the most common schemes. These messages create urgency by warning of account suspension or fraud. Romance scams also affect people across all ages, typically beginning on dating apps and social media, where scammers build emotional connections before requesting money.
Read at www.mercurynews.com
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