Elder Abuse Awareness Day sheds light on the growing issue of online scams targeting older Americans, with billions of dollars stolen annually and most victims not reporting the crimes. Last year, more than half of cybercrime victims were over the age of 60, according to experts. Gary Warner, a cybercrime researcher, said advancements in artificial intelligence and other technologies make it harder to identify scams. “Anytime anyone’s been a victim of a cyber crime, they should report it to ic3.gov,” Warner said. “Their annual report showed that last year there was $20.2 billion stolen from Americans, and the average loss for those older Americans was $34,000 a person.”Warner explained that a very small percentage of victims report being scammed, suggesting the actual amount stolen could be closer to $139 billion. He noted that older individuals are often more susceptible to scams due to cognitive decline. “If you have an adult family member who has a significant amount of money, ask your bank if you can be added to their account. Ask your parent if you can be added to their account and just watch for strange activity,” Warner said. He emphasized the importance of reporting scams quickly. “If it can be noticed within 48 hours and sent to law enforcement, there is a tiny chance, but almost none of that money comes back. We had a recent press release from the FBI about how in the last year, they’ve recovered $700 million from the scammers. That sounds like a lot of money, but that’s $700 million out of $139 billion. Less than 1% of the money comes back,” Warner said. Warner encouraged anyone who has been scammed or knows someone who has to report the crime to the FBI’s Internet Crime Complaint Center.
Elder Abuse Awareness Day sheds light on the growing issue of online scams targeting older Americans, with billions of dollars stolen annually and most victims not reporting the crimes.
Last year, more than half of cybercrime victims were over the age of 60, according to experts.
Gary Warner, a cybercrime researcher, said advancements in artificial intelligence and other technologies make it harder to identify scams.
“Anytime anyone’s been a victim of a cyber crime, they should report it to ic3.gov,” Warner said. “Their annual report showed that last year there was $20.2 billion stolen from Americans, and the average loss for those older Americans was $34,000 a person.”
Warner explained that a very small percentage of victims report being scammed, suggesting the actual amount stolen could be closer to $139 billion. He noted that older individuals are often more susceptible to scams due to cognitive decline.
“If you have an adult family member who has a significant amount of money, ask your bank if you can be added to their account. Ask your parent if you can be added to their account and just watch for strange activity,” Warner said.
He emphasized the importance of reporting scams quickly.
“If it can be noticed within 48 hours and sent to law enforcement, there is a tiny chance, but almost none of that money comes back. We had a recent press release from the FBI about how in the last year, they’ve recovered $700 million from the scammers. That sounds like a lot of money, but that’s $700 million out of $139 billion. Less than 1% of the money comes back,” Warner said.
Warner encouraged anyone who has been scammed or knows someone who has to report the crime to the FBI’s Internet Crime Complaint Center.
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