Why don’t scammers target their own grandparents?
Because even they know Grandma doesn’t deserve that kind of betrayal.
In this publication, we're uncovering a troubling trend that’s hitting close to home: senior citizens across the U.S.—and especially in Hawaii—are being targeted in a wave of increasingly sophisticated scams. With June 15 marking World Elder Abuse Awareness Day, now’s the time to pay attention.
Elder Fraud Losses Hit Nearly $5 Billion in 2024—And It’s Getting Worse
According to the FBI’s Internet Crime Complaint Center (IC3), senior citizens lost an astonishing $4.885 billion to online fraud in 2024—a 46% increase from the previous year. Hawaii alone saw $18.8 million in losses, with investment scams making up over half of that. These aren't isolated incidents—they’re part of a coordinated and escalating attack on our most vulnerable population.
How It Works:
- The Approach: Scammers target seniors through unsolicited calls, emails, or online ads promising high returns, urgent tech support, romance, or even job offers.
- The Hook: They create emotional pressure—offering companionship, threatening account lockouts, or pitching a once-in-a-lifetime investment.
- The Ask: Victims are tricked into sending money, sharing personal data, or granting remote access to their devices.
- The Theft: Once in, the scammers drain bank accounts, steal identities, or use the victim as a “money mule” to launder stolen funds.
Who’s Targeted:
Seniors—especially those living alone or less tech-savvy
Individuals perceived as financially stable or retired
Hawaii residents have been heavily impacted, but this is a nationwide concern
Real-Life Insight:
“Investment scams are particularly malicious as they prey on victims’ emotions and drain them of their life savings,” said David Porter, Special Agent in Charge at FBI Honolulu.
In Hawaii alone, investment scams cost victims over $9.8 million in 2024. These scams are often sophisticated and impersonate real companies or advisors.
Why You Should Care:
This isn’t just about money. It’s about safety, dignity, and protecting the people who raised us.
Elder fraud can result in:
- 💸 Devastating financial loss
- 🧠 Emotional trauma and loss of independence
- 🕵️♂️ Long-term identity theft and account compromise
- 😞 Embarrassment and underreporting, especially by those unsure how to get help
How to Protect Yourself (or a Loved One):
• Verify everything: Search for names, phone numbers, and offers online. Check legitimacy via the Better Business Bureau or official websites.
• Don’t rush: Scammers pressure you to act quickly—slow down and fact-check.
• Avoid unsolicited contact: Be skeptical of calls, emails, or door-to-door offers.
• Never send money or share info: Especially to unknown people or companies.
• Secure your accounts: If someone gains access to your device, call your bank immediately and monitor your financial accounts.
Quick Tips & Updates
Quick Tip: Did you know that scammers often recycle their tactics? A scam you see targeting a friend today might hit your inbox tomorrow.
Pro Tip: Teach your loved ones to say these magic words when pressured: “Let me call you back after I talk to my son/daughter.” Scammers hate a second opinion.
Stay safe, stay informed.
Keywords
- Elder Fraud: Financial scams specifically targeting older adults, often through emotional manipulation.
- Investment Scam: Fraud involving fake or misleading investment opportunities designed to steal money.
- IC3 (Internet Crime Complaint Center): The FBI’s platform for reporting cybercrime and scams.
- Money Mule: A person who transfers or moves illegally acquired money on behalf of others, knowingly or unknowingly.
- Tech Support Scam: A scam where criminals pose as tech support agents to gain access to devices or personal data.
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