Oklahoma City FBI Warns Of Increase In Elder Fraud

A recently released annual report on elder fraud across the United States shows Oklahoma has landed halfway up the list of states with the most cases.

Oklahoma, ranked 27, had 955 complaints related to elder fraud according to data published by the Federal Bureau of Investigation.

“Part of what makes this crime so offensive is that they're targeting people who have already worked their entire lives to build up what they have, to get to the point in their lives where they finally feel secure and just trying to enjoy their lives,” said Doug Goodwater, Special Agent In-Charge for the Oklahoma City FBI. “The impact can be extensive. It can take everything from the victim, it can potentially impact the relationship of family members.”

Criminals target people over the age of 60 more than other age groups. Technology scales the fraud schemes into all levels of sophistication, with no standard threat. But, Goodwater said there are commonalities across all scams to watch for.

“If you are being pressured into conducting a financial transaction, stop, walk away, hang up,” he said.

The odds of recovering funds from a scam diminish quickly over time. People who report immediately to the FBI's Internet Crime Complaint Center at IC3.gov have better odds, estimated at 7 in 10 cases resulting in the FBI and banks freezing money before transactions finalize.

Some cases, particularly those dealing in cryptocurrency, are unable to be frozen by investigators; another telltale sign the case involves fraudsters.

Legal Aid Services of Oklahoma offers free legal help for older adults, focused on estate planning. But, its attorneys see a frequent number of cases involving scams.

“When you're told don't call somebody, call somebody,” said attorney John Duty. “When they say, don't tell anybody, tell somebody.”

Ultimately, the FBI and Legal Aid Services of Oklahoma want to educate Oklahomans about the risks associated with the crime. And, despite any embarrassment, it is always worthwhile to report an instance of fraud.

“It's OK to just hang up,” Duty said. “You don't have to answer questions. You don't have to be cordial. That's kind of what we're taught to be. It's not necessary.”

Nearly $3.5 billion was lost through scams against people over the age of 60 in the United States in 2023. It's an 11% increase from 2022 and represents more than 100,000 cases.

“There's nothing better to address fraud than to increase awareness and work to protect people from having it happen to them and becoming a victim,” Goodwater added.