The post America’s seniors lost billions in crypto scams; here’s how we can stem the tide appeared on BitcoinEthereumNews.com.

We’ve spent decades creating regulations to protect older adults from predatory lenders and abusive caregivers. But are we ignoring the digital threats they now face while transacting online? This grim reality is evident when analyzing the FBI’s latest Internet Crime Report (IC3). According to the IC3 study, Americans aged 60 and above lost $4.8 billion to cybercrime in 2024, a 43% jump YOY. The findings also revealed another unsettling reality. The findings also revealed another unsettling reality: they filed 147,127 complaints, of which 7,500 lost $100,000 or more each. That’s more than any other age group.  Source: FBI IC3 2024 Report This isn’t just a financial crisis. It paints a picture of a systemic failure to protect a generation that built this country’s wealth but remains dangerously unprepared for its digital threats. What does it say about us if we allow our parents and grandparents to be hunted online? If we shrug when the most trusting generation is turned into the most exploited? Beyond the cybersecurity issues, it’s a test of national character. And right now, we’re failing it. Why are seniors more susceptible to cybercrime?  Cybercriminals target seniors for different reasons. First, retirees often control lifelong savings, are outright homeowners, and trust institutions like banks or government agencies—the brands scammers impersonate.  Moreover, gaps in digital literacy have left many navigating online financial platforms without the required safeguards. That’s compounded by the advancement in today’s scams that are nothing like the clunky, typo-ridden emails of yesteryear. Instead, they’re subtle, personalized, and engineered by suave global crime syndicates, as the screenshot below shows.  Source: FBI IC3 2024 Report Another factor heightening our seniors’ vulnerability to online financial crimes is their isolation. Nearly 1 in 3 adults over 65 live alone, and loneliness makes them ready targets of romance and impersonation scams.…

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Filed under: News - @ April 26, 2025 12:25 am