A recent FBI report highlights the increasing amount of “elder fraud”.

The Internet Crime Complaint Center’s 2022 Elder Fraud Report showed an 84-percent increase in total losses to seniors from the previous year’s report.

Seniors are often targeted for financial fraud crimes so much of this is attributed to investment fraud involving cryptocurrency.

According to the report, more than 88,000 victims over the age of 60 reported losses of $3.1 billion.

Illinois is 10th in the state-wide ranking. Residents reported total losses of over $75 million.

The FBI has some tips for seniors to avoid becoming victims:

Shred credit card receipts and old bank statements
Disconnect from the internet and shut down your device if you see a pop-up message or locked screen. Pop-ups can be used to spread malicious software.
Be cautious of unsolicited phone calls, mailings, and door-to-door service offers
Do not give out your personal information via the phone, mail, or internet unless you initiate the contact
Talk over investments with a trusted friend, family member, or financial advisor
Make sure all computer anti-virus and security software and malware protections are up to date
Require all plans and purchases to be in writing
Don’t pay in advance for services
Don’t pay for services via prepaid gift cards or cryptocurrency
Resist the urge to act quickly or secretly
If you believe your or someone you know has been a victim of elder fraud call the FBI at once.