Seniors Are Falling Victim to Fraud at an Alarming Rate in This State

24/7 Wall St. Insights

• Elder fraud in 2023 increased by 14% from 2022, according to FBI data
• In some states, the problem seems to be significantly more prevalent

Former congressman George Santos pleaded guilty to a pair of felony fraud charges — committing wire fraud and aggravated identity theft. Though the disgraced Santos did not necessarily target older Americans, the FBI’s Internet Crime Complaint Center (IC3) says it receives daily thousands of complaints reporting a wide array of scams, many of them targeting the elderly.

According to the IC3, total losses resulting from fraud and reported by those over the age of 60 topped $3.4 billion in 2023, an almost 11% increase in reported losses from 2022. There was also a 14% increase in complaints filed with IC3 by elderly victims. And the FBI believes these numbers are probably considerably under reported.

To find in which states elder fraud is highest, 24/7 Wall St. reviewed the report States Where Elder Fraud Is on the Rise in America from All About Cookies. The site, which provides information, tips, advice, and recommendations regarding online privacy, identity theft prevention, digital security, and others, calculated how many fraud complaints were reported in each state per 100,000 residents 60 years and older. We also added from the FBI’s 2023 Elder Fraud Report regarding the overall number of elder fraud complaints and the overall related losses. States and the District of Columbia are ranked here by the number of elder fraud complaints per 100,000 over 60 residents.

Why are we covering this

Despite attempts to combat the phenomena, financial exploitation of those over 60 years of age is increasing. It is the age group that submitted the most fraud complaints and had the largest loss compared to all age groups in 2023.

51. Mississippi

• Elder fraud complaints, 2023: 64 per 100,000 60+ state residents
• Change from 2022: +19% — #9 highest increase
• Losses from elder fraud, 2023: $9,328,015 — 434 complaints
• Average loss per complaint: $21,493 — 6th lowest

50. Louisiana

• Elder fraud complaints, 2023: 71 per 100,000 60+ state residents
• Change from 2022: +0% — #35 highest chg
• Losses from elder fraud, 2023: $31,037,438 — 736 complaints
• Average loss per complaint: $42,170 — 10th highest

49. North Dakota

• Elder fraud complaints, 2023: 75 per 100,000 60+ state residents
• Change from 2022: +14% — #13 highest increase
• Losses from elder fraud, 2023: $4,405,702 — 127 complaints
• Average loss per complaint: $34,691 — 21st highest

48. Wisconsin

• Elder fraud complaints, 2023: 77 per 100,000 60+ state residents
• Change from 2022: +5% — #12 lowest increase
• Losses from elder fraud, 2023: $26,069,500 — 1,119 complaints
• Average loss per complaint: $23,297 — 9th lowest

47. West Virginia

• Elder fraud complaints, 2023: 78 per 100,000 60+ state residents
• Change from 2022: +13% — #15 highest increase
• Losses from elder fraud, 2023: $11,829,064 — 386 complaints
• Average loss per complaint: $30,645 — 24th highest

46. Alabama

• Elder fraud complaints, 2023: 81 per 100,000 60+ state residents
• Change from 2022: +4% — #10 lowest increase
• Losses from elder fraud, 2023: $33,942,649 — 976 complaints
• Average loss per complaint: $34,777 — 20th highest

45. Indiana

• Elder fraud complaints, 2023: 82 per 100,000 60+ state residents
• Change from 2022: +4% — #9 lowest increase
• Losses from elder fraud, 2023: $37,812,966 — 1,255 complaints
• Average loss per complaint: $30,130 — 25th highest

44. Michigan

• Elder fraud complaints, 2023: 85 per 100,000 60+ state residents
• Change from 2022: -8% — #7 highest decrease
• Losses from elder fraud, 2023: $58,552,106 — 2,109 complaints
• Average loss per complaint: $27,763 — 21st lowest

43. Kentucky

• Elder fraud complaints, 2023: 86 per 100,000 60+ state residents
• Change from 2022: -6% — #7 lowest decrease
• Losses from elder fraud, 2023: $12,769,949 — 908 complaints
• Average loss per complaint: $14,064 — 2nd lowest

40. Nebraska

• Elder fraud complaints, 2023: 87 per 100,000 60+ state residents
• Change from 2022: +12% — #16 highest increase
• Losses from elder fraud, 2023: $9,642,093 — 381 complaints
• Average loss per complaint: $25,307 — 15th lowest

40. Iowa

• Elder fraud complaints, 2023: 87 per 100,000 60+ state residents
• Change from 2022: +18% — #12 highest increase
• Losses from elder fraud, 2023: $16,434,421 — 674 complaints
• Average loss per complaint: $24,383 — 13th lowest

40. Kansas

• Elder fraud complaints, 2023: 87 per 100,000 60+ state residents
• Change from 2022: +21% — #4 highest increase
• Losses from elder fraud, 2023: $13,900,498 — 579 complaints
• Average loss per complaint: $24,008 — 12th lowest

38. Vermont

• Elder fraud complaints, 2023: 90 per 100,000 60+ state residents
• Change from 2022: -16% — #2 highest decrease
• Losses from elder fraud, 2023: $4,880,944 — 163 complaints
• Average loss per complaint: $29,944 — 26th highest

38. Pennsylvania

• Elder fraud complaints, 2023: 90 per 100,000 60+ state residents
• Change from 2022: +1% — #4 lowest increase
• Losses from elder fraud, 2023: $117,427,238 — 3,020 complaints
• Average loss per complaint: $38,883 — 15th highest

37. New York

• Elder fraud complaints, 2023: 92 per 100,000 60+ state residents
• Change from 2022: +1% — #3 lowest increase
• Losses from elder fraud, 2023: $203,437,635 — 4,328 complaints
• Average loss per complaint: $47,005 — 7th highest

35. Arkansas

• Elder fraud complaints, 2023: 94 per 100,000 60+ state residents
• Change from 2022: +1% — #2 lowest increase
• Losses from elder fraud, 2023: $14,696,548 — 665 complaints
• Average loss per complaint: $22,100 — 8th lowest

35. Minnesota

• Elder fraud complaints, 2023: 94 per 100,000 60+ state residents
• Change from 2022: +1% — #2 lowest increase
• Losses from elder fraud, 2023: $54,886,221 — 1,230 complaints
• Average loss per complaint: $44,623 — 8th highest

34. New Jersey

• Elder fraud complaints, 2023: 96 per 100,000 60+ state residents
• Change from 2022: -15% — #3 highest decrease
• Losses from elder fraud, 2023: $104,087,085 — 2,049 complaints
• Average loss per complaint: $50,799 — 4th highest

32. Massachusetts

• Elder fraud complaints, 2023: 97 per 100,000 60+ state residents
• Change from 2022: -5% — #6 lowest decrease
• Losses from elder fraud, 2023: $63,771,718 — 1,611 complaints
• Average loss per complaint: $39,585 — 13th highest

32. Georgia

• Elder fraud complaints, 2023: 97 per 100,000 60+ state residents
• Change from 2022: +2% — #6 lowest increase
• Losses from elder fraud, 2023: $92,422,609 — 2,114 complaints
• Average loss per complaint: $43,719 — 9th highest

31. Tennessee

• Elder fraud complaints, 2023: 98 per 100,000 60+ state residents
• Change from 2022: +5% — #11 lowest increase
• Losses from elder fraud, 2023: $43,753,076 — 1,577 complaints
• Average loss per complaint: $27,744 — 20th lowest

30. Maine

• Elder fraud complaints, 2023: 99 per 100,000 60+ state residents
• Change from 2022: -16% — #1 highest decrease
• Losses from elder fraud, 2023: $7,162,225 — 397 complaints
• Average loss per complaint: $18,041 — 3rd lowest

27. Illinois

• Elder fraud complaints, 2023: 100 per 100,000 60+ state residents
• Change from 2022: +14% — #13 highest increase
• Losses from elder fraud, 2023: $137,940,620 — 2,887 complaints
• Average loss per complaint: $47,780 — 6th highest

27. North Carolina

• Elder fraud complaints, 2023: 100 per 100,000 60+ state residents
• Change from 2022: +19% — #7 highest increase
• Losses from elder fraud, 2023: $77,364,165 — 2,423 complaints
• Average loss per complaint: $31,929 — 22nd highest

27. Rhode Island

• Elder fraud complaints, 2023: 100 per 100,000 60+ state residents
• Change from 2022: +22% — #3 highest increase
• Losses from elder fraud, 2023: $7,377,668 — 274 complaints
• Average loss per complaint: $26,926 — 17th lowest

26. Missouri

• Elder fraud complaints, 2023: 102 per 100,000 60+ state residents
• Change from 2022: -2% — #3 lowest decrease
• Losses from elder fraud, 2023: $52,775,722 — 1,502 complaints
• Average loss per complaint: $35,137 — 19th highest

25. Connecticut

• Elder fraud complaints, 2023: 107 per 100,000 60+ state residents
• Change from 2022: +3% — #7 lowest increase
• Losses from elder fraud, 2023: $38,693,615 — 949 complaints
• Average loss per complaint: $40,773 — 11th highest

24. Oklahoma

• Elder fraud complaints, 2023: 109 per 100,000 60+ state residents
• Change from 2022: +18% — #10 highest increase
• Losses from elder fraud, 2023: $22,430,973 — 955 complaints
• Average loss per complaint: $23,488 — 11th lowest

23. New Hampshire

• Elder fraud complaints, 2023: 111 per 100,000 60+ state residents
• Change from 2022: +6% — #13 lowest increase
• Losses from elder fraud, 2023: $11,339,097 — 408 complaints
• Average loss per complaint: $27,792 — 22nd lowest

22. Ohio

• Elder fraud complaints, 2023: 115 per 100,000 60+ state residents
• Change from 2022: +4% — #8 lowest increase
• Losses from elder fraud, 2023: $64,434,384 — 3,299 complaints
• Average loss per complaint: $19,531 — 5th lowest

21. South Carolina

• Elder fraud complaints, 2023: 116 per 100,000 60+ state residents
• Change from 2022: +9% — #16 lowest increase
• Losses from elder fraud, 2023: $43,758,611 — 1,485 complaints
• Average loss per complaint: $29,467 — 24th lowest

20. Delaware

• Elder fraud complaints, 2023: 118 per 100,000 60+ state residents
• Change from 2022: -1% — #1 lowest decrease
• Losses from elder fraud, 2023: $15,363,401 — 314 complaints
• Average loss per complaint: $48,928 — 5th highest

19. Hawaii

• Elder fraud complaints, 2023: 121 per 100,000 60+ state residents
• Change from 2022: +10% — #17 lowest increase
• Losses from elder fraud, 2023: $27,965,497 — 453 complaints
• Average loss per complaint: $61,734 — the highest

17. Idaho

• Elder fraud complaints, 2023: 124 per 100,000 60+ state residents
• Change from 2022: +6% — #14 lowest increase
• Losses from elder fraud, 2023: $20,844,974 — 514 complaints
• Average loss per complaint: $40,554 — 12th highest

17. Montana

• Elder fraud complaints, 2023: 124 per 100,000 60+ state residents
• Change from 2022: +18% — #11 highest increase
• Losses from elder fraud, 2023: $7,917,918 — 359 complaints
• Average loss per complaint: $22,055 — 7th lowest

16. Virginia

• Elder fraud complaints, 2023: 129 per 100,000 60+ state residents
• Change from 2022: -2% — #2 lowest decrease
• Losses from elder fraud, 2023: $94,037,054 — 2,475 complaints
• Average loss per complaint: $37,995 — 16th highest

15. Texas

• Elder fraud complaints, 2023: 132 per 100,000 60+ state residents
• Change from 2022: +20% — #5 highest increase
• Losses from elder fraud, 2023: $278,320,107 — 7,035 complaints
• Average loss per complaint: $39,562 — 14th highest

14. Wyoming

• Elder fraud complaints, 2023: 136 per 100,000 60+ state residents
• Change from 2022: -12% — #4 highest decrease
• Losses from elder fraud, 2023: $5,689,358 — 190 complaints
• Average loss per complaint: $29,944 — 25th lowest

13. Florida

• Elder fraud complaints, 2023: 137 per 100,000 60+ state residents
• Change from 2022: -7% — #8 highest decrease
• Losses from elder fraud, 2023: $293,817,911 — 8,138 complaints
• Average loss per complaint: $36,104 — 18th highest

11. California

• Elder fraud complaints, 2023: 142 per 100,000 60+ state residents
• Change from 2022: -2% — #4 lowest decrease
• Losses from elder fraud, 2023: $643,230,534 — 11,622 complaints
• Average loss per complaint: $55,346 — 3rd highest

11. Maryland

• Elder fraud complaints, 2023: 142 per 100,000 60+ state residents
• Change from 2022: +11% — #17 highest increase
• Losses from elder fraud, 2023: $72,384,277 — 1,985 complaints
• Average loss per complaint: $36,466 — 17th highest

10. New Mexico

• Elder fraud complaints, 2023: 146 per 100,000 60+ state residents
• Change from 2022: +2% — #5 lowest increase
• Losses from elder fraud, 2023: $17,784,632 — 759 complaints
• Average loss per complaint: $23,432 — 10th lowest

9. Oregon

• Elder fraud complaints, 2023: 153 per 100,000 60+ state residents
• Change from 2022: +19% — #8 highest increase
• Losses from elder fraud, 2023: $44,271,609 — 1,606 complaints
• Average loss per complaint: $27,566 — 18th lowest

8. Washington, D.C.

• Elder fraud complaints, 2023: 158 per 100,000 60+ state residents
• Change from 2022: -6% — #8 lowest decrease
• Losses from elder fraud, 2023: $10,645,609 — 185 complaints
• Average loss per complaint: $57,544 — 2nd highest

7. Washington

• Elder fraud complaints, 2023: 168 per 100,000 60+ state residents
• Change from 2022: +19% — #6 highest increase
• Losses from elder fraud, 2023: $88,958,679 — 2,873 complaints
• Average loss per complaint: $30,964 — 23rd highest

6. South Dakota

• Elder fraud complaints, 2023: 172 per 100,000 60+ state residents
• Change from 2022: +7% — #15 lowest increase
• Losses from elder fraud, 2023: $3,804,551 — 369 complaints
• Average loss per complaint: $10,310 — the lowest

5. Utah

• Elder fraud complaints, 2023: 179 per 100,000 60+ state residents
• Change from 2022: +23% — #2 highest increase
• Losses from elder fraud, 2023: $26,101,164 — 945 complaints
• Average loss per complaint: $27,620 — 19th lowest

4. Alaska

• Elder fraud complaints, 2023: 213 per 100,000 60+ state residents
• Change from 2022: -8% — #5 highest decrease
• Losses from elder fraud, 2023: $8,732,051 — 297 complaints
• Average loss per complaint: $29,401 — 23rd lowest

3. Colorado

• Elder fraud complaints, 2023: 242 per 100,000 60+ state residents
• Change from 2022: -4% — #5 lowest decrease
• Losses from elder fraud, 2023: $54,454,519 — 2,905 complaints
• Average loss per complaint: $18,745 — 4th lowest

2. Nevada

• Elder fraud complaints, 2023: 264 per 100,000 60+ state residents
• Change from 2022: -8% — #6 highest decrease
• Losses from elder fraud, 2023: $45,239,607 — 1,824 complaints
• Average loss per complaint: $24,802 — 14th lowest

1. Arizona

• Elder fraud complaints, 2023: 289 per 100,000 60+ state residents
• Change from 2022: +36% — #1 highest increase
• Losses from elder fraud, 2023: $127,977,700 — 5,003 complaints
• Average loss per complaint: $25,580 — 16th lowest

The post Seniors Are Falling Victim to Fraud at an Alarming Rate in This State appeared first on 24/7 Wall St..