New FBI Report Shows Seniors Lost Nearly $5 Billion to Scams in 2024 — Here’s How We Can Stop It
Published Apr 2, 2025
According to the FBI’s newly released 2024 IC3 Elder Fraud Report, Americans aged 60+ reported over 147,000 complaints and lost a staggering $4.88 billion to scams—a 46% increase in complaints and a 43% jump in losses from the year before.
Scams are getting more sophisticated, and older adults are being specifically targeted. Among the most damaging fraud types for seniors were:
• Tech Support Scams – $982M in losses
• Investment Fraud – $1.83B in losses
• Romance/Confidence Scams – $389M in losses
• Government Impersonation – $208M in losses
✅ Real-time scam alerts via text or mobile app
✅ Educational tips and scam quizzes to build awareness
✅ Simulated scam tests to identify high-risk individuals
This isn’t just a digital nuisance—it’s a crisis affecting the financial security and emotional well-being of older adults across the U.S.
At SeniorShield, we believe prevention is the most powerful defense. That’s why we’ve built a scam protection platform specifically for seniors and caregivers, offering:
By delivering bite-sized education in the way seniors already communicate—through their phones—we aim to empower individuals to spot fraud before it happens.
We want to help reduce these staggering numbers by increasing awareness and protection at the individual level. Our early pilot programs with senior living communities are already showing promising engagement and feedback.
The truth is, scam prevention must become part of senior care, just like fall prevention and medication reminders.
If you’re a caregiver, senior living operator, or simply care about an older adult in your life—SeniorShield is here to help. Together, we can bring these numbers down and give our aging population the tools they deserve to stay safe online.
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