The Federal Bureau of Investigation (FBI) has revealed that Americans over the age of 60 were disproportionately impacted by cybercrime in 2024, suffering total losses of $4.8 billion(₹40,080 crore). This represents the largest loss recorded among all age groups, according to the FBI’s Internet Crime Complaint Center (IC3) annual report.
The surge marks a concerning trend as cybercriminals increasingly target the elderly with sophisticated scams, ranging from investment fraud and phishing to romance and tech support scams. Seniors, often with substantial savings and less familiarity with digital threats, have become attractive targets for cyber fraud networks operating both domestically and internationally.
Investment Fraud and Tech Support Scams Dominate
Among the various cyber threats, investment fraud emerged as the most financially damaging for older victims, with tech support scams and phishing also contributing heavily to their losses. Many seniors were lured by fraudulent investment opportunities promising high returns or were convinced to pay for fake technical support services after being manipulated through pop-up messages or scam calls.
The FBI noted that older adults tend to lose more per incident compared to younger victims. In many cases, fraudsters used emotional manipulation, urgency tactics, or false legal threats—such as fabricated digital arrest warnings—to pressure seniors into parting with large sums of money.
FBI Pushes Global Cooperation to Combat Cyber Fraud
The FBI emphasized the need for enhanced international collaboration to tackle the growing threat. Efforts such as joint operations with Indian authorities, expanded public awareness campaigns, and direct partnerships with financial institutions have already led to a sharp increase in arrests.
“Addressing these threats requires more than just one agency or even one country,” said Christopher Delzotto, Section Chief of the FBI’s Financial Crimes Division. “Through critical partnerships, we’re coordinating intelligence, disrupting cybercriminal networks, and working to protect the most vulnerable segments of our society.”
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The FBI’s report also highlighted that the Internet Crime Complaint Center (IC3) received over 859,000 complaints in 2024, with cyber-enabled fraud accounting for 83% of the $16.6 billion(₹1,38,010 crore)in reported losses across all age groups.
As cyber threats continue to evolve, the FBI urges seniors and their families to stay vigilant, verify online offers independently, and report suspicious activities promptly to authorities.