Latest Scam Alerts & Investigations
Welcome to our Video section, where you’ll find an extensive collection of 48 in-depth news reports and investigations covering the latest scams targeting consumers. Our curated content exposes fraudulent schemes, deceptive tactics, and real-life stories of victims who have fallen prey to scammers.
Scam Alerts & Investigations
Welcome to our Video section, where you’ll find an extensive collection of 48 in-depth news reports and investigations covering the latest scams targeting consumers. Our curated content exposes fraudulent schemes, deceptive tactics, and real-life stories of victims who have fallen prey to scammers.
The time to act is now. With scams evolving at an alarming rate, it is critical to push for stronger protections, better education, and increased law enforcement efforts to safeguard seniors.
By advocating for these policies, we can create a safer financial environment for older adults and ensure that every senior can live securely, without the fear of financial exploitation.
🔹 Support SAS’s mission by getting involved in our advocacy efforts.
🔹 Contact your representatives and urge them to take action.
🔹 Join our educational programs and help spread scam awareness in your community.
Together, we can empower seniors, fight fraud, and build a safer future.
Grandkid / Family Scams
In 2023, the FBI received over 200 complaints from individuals aged 60 and older regarding grandparent scams, resulting in approximately $2.3 million in losses. Overall, scams targeting individuals aged 60 and above led to losses exceeding $3.4 billion in 2023, marking an 11% increase from the previous year.
Home Repairs Scams
In 2023, Americans reported approximately 83,000 incidents of home repair, improvement, and product scams to the Federal Trade Commission (FTC). While the FTC's report did not specify the total financial losses for that year, previous data indicates that between 2007 and 2021, Americans lost a total of $206.9 million to home improvement scams, averaging about $13.8 million annually.
Prize / Lottery Scams
In 2023, consumers reported losing over $338 million to prize, sweepstakes, and lottery scams, making it the third most commonly reported fraud that year. These scams often involve fraudsters informing individuals they've won a large sum of money or a valuable prize, but require payment of fees or taxes upfront to claim the winnings. Unfortunately, once the payment is made, the promised prize never materializes.
Bank Scams
Bank impersonation scams, where fraudsters pose as legitimate financial institutions to deceive individuals into revealing personal information or transferring funds, have seen a significant rise in recent years. In 2023, the Federal Trade Commission (FTC) reported over 330,000 cases of business impersonation scams, with combined losses from business and government impersonation scams exceeding $1.1 billion—more than triple the losses reported in 2020.
Investment Scams
Investment scams have become increasingly prevalent, leading to substantial financial losses for individuals. In 2023, consumers reported losing approximately $4.6 billion to investment scams, marking a 21% increase from the previous year.
Health Insurance Scams
While precise figures for consumer losses due to health insurance scams are challenging to ascertain, estimates suggest that healthcare fraud costs the U.S. economy tens of billions of dollars annually. The National Health Care Anti-Fraud Association (NHCAA) conservatively estimates that at least 3% of total healthcare expenditures are lost to fraud each year, which could amount to over $300 billion. These losses often translate into higher premiums and out-of-pocket expenses for consumers, as well as reduced benefits or coverage.
Government Impersonator Scams
In 2023, consumers reported losing $76 million to government impersonation scams involving cash payments, a 90% increase from $40 million in 2022. In the first quarter of 2024 alone, reported losses reached $20 million.
Tech Support Scams
In 2023, the FBI's Internet Crime Complaint Center (IC3) received 37,560 complaints related to tech support scams, resulting in nearly $1 billion in losses. Notably, almost half of the victims were over 60 years old.
Email Scams
Approximately 3.4 billion phishing emails are sent daily, accounting for about 1.2% of all email traffic.
Phone / Text Scams
In April 2024 alone, Americans received approximately 19.2 billion spam texts, averaging nearly 63 spam texts per person. Financial Losses: In 2022, text message scams resulted in nearly $330 million in losses, with a median loss of $1,000 per incident.
Package / Brushing Scams
In April 2024 alone, Americans received approximately 19.2 billion spam texts, averaging nearly 63 spam texts per person. Financial Losses: In 2022, text message scams resulted in nearly $330 million in losses, with a median loss of $1,000 per incident.
Romance Scams
In 2024, Americans reported losing over $823 million to online romance scams, according to the Federal Trade Commission (FTC). This figure represents a slight increase from 2023, during which the FBI reported losses exceeding $650 million. These scams often involve fraudsters creating fake profiles on dating apps or social media platforms to build trust and then deceive individuals into sending money or personal information.