How criminals exploit data in senior fraud scams
Scammers are using leaked personal information to rob older Americans of their hard-earned money. In 2024, people over 60 lost a staggering amount to scams, with overall fraud losses across all ages reaching a record $12.5 billion, up 25% from $10 billion in 2023, according to the FTC. Tech support scams remain the most common, affecting the most people and causing significant financial losses. Other common scams include investment fraud, romance fraud, and identity theft. In 2023, individuals over 60 reported losses of over $3.4 billion, with tech support scams being particularly prevalent among this age group. The impact of these scams is often devastating, leading to emotional distress and financial hardship for many older adults
How criminals use your personal data against you
According to the FBI’s IC3 reports analyzed by the data removal company Incogni, criminals are able to scam older folks because they have access to their personal data. They gain access to this data through data brokers who collect personal information from public records; sometimes also source it privately. This data can include anything from your name, contact number, address, and financial details to your relationship status, the electronic gadgets you use, and more.
When a criminal has your personal information, they can use many tactics to scam you. I discuss some of the common ones below:
1) Investment fraud
Criminals perpetrating investment fraud use personal information, such as financial details, names, and contact numbers, to trap their victims. This type of fraud affected 7,200 individuals in 2024, causing total monetary losses of $1.4 billion.
2) Tech support scam
Tech support scams remain one of the most common threats today. Criminals use your phone number and device details to trick you into trusting them. They also impersonate trusted brands like Best Buy and Amazon to appear legitimate. In 2024 alone, scammers targeted about 20,000 people and stole more than $650 million, so it is critical to stay alert and question unexpected tech support claims.
3) Confidence or Romance fraud
Personal data like income level, credit rating, and assets owned can help criminals choose viable targets for this type of scam. Over 7,500 Americans have been affected by confidence or romance fraud and have lost over $400 million.
Other examples of ways criminals scam elderly people include government impersonation, identity theft, and harassment.
What is the scale of these scams?
Seniors in the States have been significantly impacted by scams involving personal data. In 2024, there were a total of 115,000 reports filed by individuals over 60 years old, resulting in total losses of $3.9 billion. This represents a 13.8% increase from the 101,068 reports filed in 2023, and a 14.7% increase in the total amount of money lost (up from $3.4 billion in 2023).
The numbers become even more shocking when you take reports from the last five years. Between 2020 and 2024, a staggering 570,000 reports were filed, with seniors losing a total of $12 billion. In 2024, the average amount lost per victim was $34,000, a slight increase (0.25%) from the $33,915 in damages reported in 2023.
10 ways to protect yourself from criminals exploiting personal information
If you think you’re at risk or have been affected by one of the many scams I discussed, follow these steps to protect your digital privacy and safety.
1) Invest in data removal services
While no service promises to remove all your data from the internet, having a removal service is great if you want to constantly monitor and automate the process of removing your information from hundreds of sites continuously over a longer period of time.
Incogni, a service I trust 100% and use myself, helps automate the process by submitting removal requests to hundreds of data brokers and people-search sites on your behalf.
Incogni automatically contacts data brokers on your behalf and requests the removal of your personal information. It also continues monitoring those sites and submits new removal requests if your data reappears.
- Incogni currently removes personal data from 420+ data broker and people-search websites, and its Unlimited plan allows you to request removals from as many additional sites as you need.
- Incogni has also received third-party assurance from Deloitte, validating its marketing claims.
- The goal is simple: make it much harder for strangers, scammers, and cybercriminals to find your personal information online.
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The service also includes a 30-day money-back guarantee, so you can try it risk-free and see how much of your information is exposed online.
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2) Place a fraud alert
Contact one of the three major credit reporting agencies (Equifax, Experian, or TransUnion) and request a fraud alert to be placed on your credit file. This will make it more difficult for identity thieves to open new accounts in your name without verification.
3) Be cautious of phishing attempts
Be vigilant about emails, phone calls, or messages from unknown sources asking for personal information. Avoid clicking on suspicious links or providing sensitive details unless you can verify the legitimacy of the request.
The best way to protect yourself from clicking on malicious links that install malware that may get access to your private information is to have strong antivirus protection installed on all your devices. This can also alert you of any phishing emails or ransomware scams.
TotalAV is easy to set up and offers real-time protection for paid users, keeping your devices safe around the clock. It includes tools to block phishing scams, remove ransomware and spyware, and clean up adware and junk files. The software also features a browser manager, system tune-up tools, and protects across Windows, Mac, Android, and iOS devices.
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4) Check Social Security benefits
It is crucial to periodically check your Social Security benefits to ensure they have not been tampered with or altered in any way, safeguarding your financial security and preventing potential fraud.
5) Change your password
If you think your personal data has been compromised, you can render it useless to thieves simply by changing your password. Opt for a strong password—one you don’t use elsewhere. Even better, consider getting a password manager to generate one for you.
- Unlimited password storage
- Secure sharing
- Password health reports
- Auto-fill and emergency access
- Data breach monitoring to alert you if your credentials have been exposed
- A Security Dashboard with tools like the Data Breach Scanner and Password Health Checker to identify weak, reused, or compromised passwords
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6) Regularly monitor your financial accounts
Check your bank accounts, credit card statements and other financial accounts at least every two weeks. This habit helps you spot unauthorized transactions quickly. If you notice anything unusual, act right away to limit damage and report the issue.
7) Be cautious on social media
Be careful about the personal information you share on social media, as scammers can use details like birthdays, vacation plans, and family/friend connections to target you.
8) Use Multi-Factor Authentication
Enable two-factor authentication on your important accounts to add an extra layer of security beyond just a password. This requires a second step like a code sent to your phone to log in.
9) Back Up Your Data
Regularly back up important data from your devices to an external hard drive or cloud storage. This protects you if your device is lost, stolen or infected with malware.
10) Use Updated Security Software
Keep security software like antivirus and anti-malware programs updated on all your devices to protect against the latest threats.
Related Links:
- The ‘unsubscribe’ email scam is targeting americans
- Fbi warns of dangerous new ‘smishing’ scam targeting your phone
- Mac Malware Mayhem As 100 Million Apple Users At Risk Of Having Personal Data Stolen
Kurt’s Key Takeaways
Your personal data attracts scammers who want quick profits. They use stolen information to steal money and create emotional stress. Many criminals target adults over 60 because they believe they are easier to deceive. So, stay cautious online and question unexpected calls or messages. Also, avoid sharing personal details with anyone you do not know or trust.
Do you think government authorities should do more to prevent seniors from falling victim to online scams? Let us know in the comments.
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