Scammers stole more than $3.4 billion from older Americans last year, an FBI report says

Losses from scams reported by Americans over the age of 60 last year were up 11% over the year before, according to the FBI's report.FILE - An FBI seal is seen on a wall on Aug. 10, 2022, in Omaha, Neb. Losses from scams reported by Americans over the age of 60 last year were up 11% over the year before, according to the FBI's report. Investigators are warning of a rise in brazen schemes to drain bank accounts that involve sending couriers in person to collect cash or gold from victims.

The FBI received more than 100,000 complaints by victims of scams over the age of 60 last year, with nearly 6,000 people losing more than $100,000. It follows a sharp rise in reported losses by older Americans in the two years after the 2020 coronavirus pandemic, when people were stuck at home and easier for scammers to reach over the phone.

Federal investigators saw an uptick between May and December of scammers using live couriers to take money from victims duped into believing their accounts had been compromised, according to the FBI. In those cases, scammers tell victims that their bank accounts have been hacked and that they need to liquidate their assets into cash or buy gold or other precious metals to protect their funds. Then the fraudsters arrange for a courier to pick it up in person.

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