April 29, 2025

Senior citizens lose billions to scammers

 Newsworthy -  Senior citizens have lost $4.8 billion to scammers in 2024, with cryptocurrency fraud accounting for a significant portion of the $9.3 billion in total crypto-related losses this year.

Key Insights

  • Seniors have been disproportionately targeted by scammers, losing $4.8 billion in 2024 alone
  • Total U.S. scam losses reached $16.6 billion in 2024, increasing 33% from 2023
  • Investment scams have caused $50.5 billion in losses over the past five years
  • Cryptocurrency fraud reached a staggering $9.3 billion in 2024
  • Average losses from cyber fraud are at least $20,000 per victim


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