The FBI’s 2024 Internet Crime Complaint Center (IC3) Annual Report reveals that individuals over 60 were disproportionately affected by cyber crimes, experiencing both the highest number of complaints (147,127) and the greatest financial losses ($4.8 billion) among all age groups. This represents a significant 46% increase in complaints and 43% increase in losses from 2023 for this demographic.
The report, marking IC3’s 25th anniversary, documents an overall record-breaking $16.6 billion in total losses across 859,532 complaints in 2024, with fraud accounting for the majority of reported losses. Seniors were specifically targeted through tech support scams ($982 million in losses), investment fraud ($1.8 billion), and cryptocurrency-related schemes ($2.8 billion).
Cryptocurrency emerged as a preferred payment method for criminals, with seniors losing more than any other age group through this medium. The report highlights concerning trends targeting older adults, including “pig butchering” cryptocurrency investment scams and tech support fraud through illegal call centers, often directing victims to send cash or precious metals.
The Recovery Asset Team (RAT) has been instrumental in freezing fraudulent transactions, successfully recovering over $561 million through the Financial Fraud Kill Chain process in 2024. The FBI also launched Operation Level Up in January 2024, which identified and notified victims of cryptocurrency investment fraud, estimating savings of $285 million for 4,323 victims.
IC3 continues to serve as the central point for reporting internet crime, having received over 9 million complaints since its founding. The FBI emphasizes the importance of individual reporting to help piece together the evolving threat landscape and urges vigilance, especially for older Americans who remain the most vulnerable target for cyber criminals.