Senior Fraud

Statistics

Statistics
Characteristics of Elderly Victims
Why Elderly Victims Don't Report
Consequences of Victimization
So What Works?
Characteristics of Fraud Perpetrators
Warning Signs of Possible Exploitation
Minimizing Your Risk
You Are Not Alone!
To Report Fraud

A 2004 Federal Trade Commission study of 2,500 consumers found fraud-victimization rates actually dropped with age, with 11% of those 25 to 44 reporting that they'd been scammed, compared to 5% of those over 65. When the FTC controlled for other factors, like marital status and income, older people turned out to be no more or less likely than younger people to become fraud victims.
On the other hand, telemarketing scams seem more likely to target older Americans. A 1995 AARP study found half of the consumers targeted for such scams were 50 or older (an age group that comprises about 40% of the adult U.S. population), while a more recent report by the National Fraud Information Center showed 34% of those victimized were over 60 (an age group that comprises 23% of the adult population).
An AARP study of a phone-based lottery scam where victims were induced to pay a fee to get supposed winnings found the vast majority of victims (71%) were 75 or older.
Lottery-scam victims the AARP studied also were more likely to be female (65%) and low income (half had incomes under $30,000). The older folks who fell for a phone-based investment scam, by contrast, were more likely to be male (80%) and have higher incomes (half made more than $75,000).

NOTE: One of the strongest predictors of future victimization is past victimization. A victim’s name may be put on a “sucker” or “mooch” list and sold to other crooks. A victim may also be contacted by other scammers who offer to help them recoup their losses from the previous scam. Victimization by relatives or caregivers by its nature is repetitive.

Senior Fraud

18th Judicial District

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