San Antonio FBI warns elder fraud scams are growing, costing victims billions

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SAN ANTONIO – The FBI’s top agent in San Antonio is sounding the alarm on a troubling trend: a significant increase in fraud cases specifically targeting older Americans. This demographic, particularly those aged 60 and above, has become a prime target for scammers looking to exploit vulnerabilities.

Daniel Faith, the special agent in charge of the FBI’s San Antonio Division, highlighted the alarming statistics, stating, “Just last year alone, we had over 200,000 complaints to our Internet Crime Complaint Center — resulting in about $7.5 billion in loss.” This staggering figure underscores the urgent need for awareness and preventive measures.

Older adults are often targeted due to their accumulated wealth and their tendency to engage with phone calls and strangers. Scammers frequently employ tactics that lead to repeated targeting; if a senior falls victim once, they are likely to be hit again.

“If you fall for it once, you’re now gonna be targeted multiple times,” Faith remarked, emphasizing the importance of vigilance.

Common scams include impersonations of law enforcement, the IRS, banks, and other government agencies. Faith pointed out that jury duty scams are particularly prevalent, where callers falsely claim the victim has missed jury duty or owes money. In these situations, his advice is clear: hang up and independently verify the claim by contacting the agency directly.

Requests for payment involving cryptocurrency or gift cards are alarming signs of a potential scam. Faith encourages victims to overcome any feelings of embarrassment and promptly report fraud. “You’re not the only person being targeted,” he reassures. “There’s literally hundreds of thousands of people who are being targeted and falling for it.”

Faith, who has extensive experience in dealing with cybercrime, shared a personal anecdote to illustrate that anyone can fall victim to these schemes. He recounted how Fidelity contacted him about a fraudulent $50,000 loan application made in his name, stating, “I’m very cyber-technically savvy, and they got me. So, anybody can be a target of this.”

For those who believe they may have been victimized, it is crucial to act swiftly. Victims should immediately contact their bank, local law enforcement, or the FBI and secure their accounts to prevent further loss.

To report internet crimes, individuals can visit the FBI’s Internet Crime Complaint Center at www.ic3.gov.

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