How much did Americans over 60 lose to internet crime in a recent year?

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Seniors over 60 reported more than $3.4 billion in losses to internet crime in a single recent year, though the FBI notes the true figure is several times higher due to underreporting.

This significant financial threat targets retirement assets because retirees hold the capital, answer their phones, and often adopted internet usage later without the intuitive risk awareness younger users developed. To mitigate these risks, consider these practical steps:

• Secure your email first: Your inbox is the recovery point for banks, Medicare, and Social Security logins. Use strong, unique passwords and enable two-factor authentication on this account before any others.
• Verify independently: When receiving calls about urgent account issues or threats from police or utilities, hang up and call the organization using a phone number you look up yourself or know is genuine.
• Refuse non-standard payments: Legitimate government agencies and banks will never ask for payment via gift cards, cryptocurrency, Bitcoin ATMs, or cash in packages.
• Recognize urgency traps: Be wary of any caller creating a deadline, demanding secrecy, or promising guaranteed high returns, as these are common tactics to prevent you from checking facts.
• Establish an emergency protocol: Designate a trusted family member or friend to help review suspicious messages immediately; having a second opinion can prevent impulsive actions during high-stress moments.

Warning sign: If you share a one-time verification code, send money via gift cards, or transfer funds to a “safe” account, contact your bank immediately to trace the transaction and report the incident to the Federal Trade Commission or local authorities.

admin · 2026-10-19 21:02:59