Rochester, N.Y. (WHAM) — The IRS Criminal Investigation Division is warning older Americans about increasingly sophisticated scams that can drain victims’ life savings, as new federal data shows millions of dollars lost to fraud in New York.According to the Federal Trade Commission, New Yorkers ages 60 to 69 reported losing nearly $17 million to fraud during the second quarter of 2026. Nationwide, adults 60 and older reported losses totaling $790 million during the same period.Harry Chavis, special agent in charge of IRS Criminal Investigation’s New York Field Office, said scammers often target older adults because they may be more trusting.”Older adults tend to be more forgiving, vulnerable, trustworthy,” Chavis said.Scammers frequently contact victims through phone calls, text messages, emails and computer pop-ups, sometimes impersonating government officials or law enforcement officers.Chavis said one common tactic involves convincing victims that their finances have already been compromised.”And the way that they really start sinking in as a hook to get the victims on is they tell them they become a victim of fraud,” Chavis said. “And now they embark on this journey to try and help them lock down their finances and protect their funds.”That supposed assistance can quickly turn into demands to withdraw cash, purchase gold or hand over money for safekeeping.In some cases, victims empty their savings accounts because they believe they are cooperating with a legitimate investigation.”Oftentimes, this segment of our population has worked really hard to get where they are,” Chavis said. “They’ve built up their nest egg, which they will now use to live out the rest of their life. And oftentimes they lose all of it.”The FTC reported a median fraud loss of $750 among New Yorkers ages 60 to 69 during the second quarter. Chavis said some victims lose tens or even hundreds of thousands of dollars.Warning signs to watch forChavis said people should be especially suspicious of anyone claiming to represent the government who pressures them to move money immediately.”Any time that you receive a call or a communication purporting to be a government official or law enforcement where they’re demanding liquidation of cash very quickly, that should be a red flag,” he said.Authorities recommend taking several precautions:Never withdraw money or purchase gold at the direction of an unsolicited caller claiming to be a government official.Avoid sharing personal or financial information with people you don’t know.Be wary of urgent demands involving your savings or bank accounts.Stop and speak with someone you trust, a caregiver or a community resource such as Lifespan before taking action.Report suspected fraud, even if money has already been lost.Chavis said embarrassment can prevent victims from coming forward, making it more difficult for investigators to identify those responsible.”They’re often hesitant to report it because they feel embarrassed that they’ve become victim to the scheme,” he said.Law enforcement officials stress that reporting scams can help investigators track fraudulent activity and, in some cases, recover stolen funds.Suspected fraud can be reported to the FTC. Click here to learn more.
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