A.I. scams that target people 60-and-over
Ads to help pay the bills.THE SCAM…
The DML Report has an ad partner on the March 1 edition that offers to help people learn AI in a few minutes each day. The timing of this is incredible, because a new report highlights how people 60 years and older are being targeted by scammers.
The National Council on Aging (NCOA) has outlined the top five financial scams targeting older adults, a group that lost a staggering $3.4 billion to fraud in 2023 alone, with over 100,000 victims aged 60 and older worldwide. These scams exploit trust and often go unreported due to embarrassment or difficulty in prosecution, making them a low-risk, high-reward crime for perpetrators. Scammers target seniors—perceived to have savings and be less tech-savvy—using tactics like impersonation and emotional manipulation, with devastating consequences for those on fixed incomes who struggle to recover losses.
Among the key scams detailed are government impersonation calls, where fraudsters pose as IRS or Social Security officials, claiming urgent payment is needed to avoid arrest or fines; in 2023, 536 seniors reported such incidents to the U.S. Senate Special Committee on Aging Fraud Hotline. Another prevalent scam is the grandparent scam, where callers pretend to be a grandchild in distress—often claiming jail time or medical emergencies—urging immediate wire transfers or gift card payments, preying on familial bonds. Tech support scams also rank high, with criminals posing as Microsoft or Apple representatives via pop-ups or calls, tricking seniors into granting remote access to devices or paying for fake services, costing an estimated $1.5 million annually per Microsoft’s figures.
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Leading the list are romance scams, where scammers build fake online relationships to extract money—often thousands of dollars—for fabricated emergencies, and sweepstakes scams, where victims are told they’ve won prizes but must pay upfront fees, only to receive nothing. Preventative tips include never sharing personal information over unsolicited calls, verifying emergencies with family, and checking suspicious emails or pop-ups with trusted sources. If scammed, individuals should report to local police, the FTC at ReportFraud.ftc.gov, and the NCOA urges awareness as the best defense, noting the FBI’s Michael Nordwall’s call for collective vigilance to protect seniors.
Key Facts:
Older adults lost $3.4 billion to scams in 2023, impacting over 100,000 people aged 60+ globally.
Common scams include government impersonation, grandparent, tech support, romance, and sweepstakes frauds.
Scammers exploit trust, isolation, and perceived wealth, with losses hard to recover for seniors on fixed incomes.
In 2023, 536 seniors reported scams to the U.S. Senate fraud hotline, adding to 12,300 total complaints since 2013.
The FTC reported over $10 billion in total U.S. fraud losses in 2023, with seniors heavily affected by business imposter scams.
Don’t be a victim. Learn what you can about A.I. as soon as possible.