In recognition of World Elder Abuse Awareness Day (WEAAD) on June 15, the Idaho Department of Finance (IDOF) reminds financial professionals and the public that financial exploitation of seniors is a pressing issue for all Idahoans.

According to the 2023 FBI Internet Crime Complaint Center Fraud Report, “scams targeting individuals aged 60 and older caused over $3.4 billion in losses in 2023—an increase of approximately 11% from the year prior. The average victim of elder fraud lost $33,915 due to these crimes in 2023.”[1]

“It is important for the public and industry stakeholders to be aware of the strategies and tactics scammers use to target our senior community to better protect Idahoans and their families,” said Patricia Perkins, Director of the Idaho Department of Finance.

View the full Press Release

[1] https://www.fbi.gov/news/stories/elder-fraud-in-focus