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Over 400 Percent Increase in Elder Scams FBI Warns

"Since 2021, elder scams have increased by over 400 percent, leading to a loss of $1.2 billion in 2023 according to a recent report. Public Affairs Officer, Christina Garza, says this is something people need to be watching."

The FBI via its Houston Field Office shares that elder fraud has become an epidemic.

“We’re seeing people lose their entire life savings and their retirement funds on top of that. They’re losing their homes because they’re having to remortgage their houses to be able to keep up with the scams and the extortion if you will and manipulation that comes along with all of that.”

Read more: FBI warns of over 400% increase in elder scams including money loss and control