While $9 billion in fraud losses were reported in 2022, The Federal Trade Commission (FTC) estimates the true financial impact at $137 billion due to underreporting. The impact on victims and their families can be financially and emotionally devastating, especially for older Americans.

The AARP Fraud Watch Network testified before Capitol Hill lawmakers in September to this effect, urging stronger consumer protections and support for victims of these crimes. The AARP representatives emphasized the rapid rise in fraud, calling it “meteoric,” and urged a coordinated effort from government, industry, and advocates to tackle the growing threat. They also warned lawmakers that technology is making it easier for criminals to prey on older adults.

One out of every three U.S. veterans has had a scammer try and steal their benefits. Fraud cost veterans, service members, and their families $477 million in 2023, according to the latest FTC data, and this only includes fraud that was reported. In fact, over 85 percent of veterans have encountered service-related scams in the last 12 months. Scammers employ vet-focused twists on impersonation scams, investment fraud, and more. The White House, along with the Veterans Administration, have unveiled new fraud prevention resources for veterans. Visit Vsafe.gov online or reach out to the new call center at 833-38V-SAFE (833-388-7233). 

Enter AARP Connecticut’s “Shred Fraud” Sweepstakes

Enter AARP Connecticut’s “Shred Fraud” Sweepstakes for a chance to win an Amazon Fire 7 Tablet and Amazon Basics Cross Cut Paper and Credit Card Home Office Shredder to prevent sensitive documents from getting into the hands of scammers. The AARP Connecticut-sponsored sweepstakes will begin on November 4, 2024, and accept entries until January 1, 2025. Entries must be received during this time and the first person drawn randomly will be the prize winner. The sweepstakes entry form and rules can be found at https://events.aarp.org/FraudSweepNovDec.

Catch Fighting Fraud with AARP Connecticut Webinar Series Live or On Demand

Learn about the current fraud tactics being used, how to recognize red flags, and strategies to avoid the dangers, with the free, bimonthly Fighting Fraud with AARP Connecticut webinar series. People can virtually attend the live episodes, in which they can ask questions of the guests, as well as watch recordings of previous webinars on the AARP Connecticut YouTube channel. Register to attend our last episode of 2024 on Friday, Dec. 20, at 12 p.m. by visiting https://events.aarp.org/FightFraudDec.

Join us in being a fraud fighter! If you can spot a scam, you can stop a scam. The AARP Fraud Watch Network is a free resource for all. With AARP as your partner, you'll learn how to proactively spot scams, get guidance from our fraud specialists if you've been targeted, and feel more secure knowing that we advocate at the federal, state, and local levels to protect consumers and enforce the law. Visit www.aarp.org/fraudwatchnetwork or call our dedicated helpline to speak to a fraud specialist at 1-877-908-3360. You can find out what else AARP is doing in Connecticut by checking out AARP Connecticut online at www.aarp.org/CT or emailing us at CT@aarp.org.

This article was written by Nora Duncan, AARP CT Director.