DES MOINES, Iowa — According to FBI data, elderly Iowans lost over $16 million to scams last year. That mirrors national trends among the elderly that show a notable increase in not only complaints but reported losses from 2022 to 2023.
While those numbers may be eye-popping, an FBI agent told Local 5 that this issue is probably bigger than what’s captured on paper.
“We feel that it’s underreported," FBI Agent Clint Nafey said.
Scams continue to evolve with technology.
“We’re seeing increases across the board particularly because we’re becoming more networked," Nafey said. "Criminals can sit anywhere in the world and go after victims."
Sometimes it isn’t a singular person behind the screen but is instead a criminal organization according to Nafey.
“They actually work with psychologists to help develop ways to bring people in, to pull on their heartstrings...," he said.
Where these scammers are varies. Nafey said it's a mix of both local and overseas criminals.
Investment scams are especially problematic. Nafey said these are one of the most costly for older Iowans.
“Individuals can lose everything. They can lose their retirement accounts, their savings accounts and then, before you know it, they’ve been taken for everything and unfortunately that sometimes can lead to suicides," he said.
And phantom hacker scams have created new issues.
“They’re requesting that these victims convert their assets to precious metals…to liquid cash," Nafey explained.
The criminals then send fake government officials to collect the metal and cash under the guise of protecting those assets.
Elderly people aren't the only ones who fall victim to scams. While not the most impacted, according to Nafey, it is a growing issue for people under 20.
“If you look at the two most vulnerable populations, those populations would be the elderly and the younger folks," he said.
A scam unique to that age group? Gaming scams.
“When folks are engaged in game-use, it’s one of those processes where you start to develop relationships with people," Nafey said.
Sextortion is a big threat for young people. Nafey says they're tricked into sending explicit photos to a scammer who they think is a love interest. This can happen through dating sites.
"These people are saying 'Well, if you don't give me any money, I'm going to post this on your social media site' and there again, that could potentially lead to suicides," he said.
When it comes to protecting your kids, Nafey advised parents to keep tabs on their kid's social media and educate them on how to properly use the sites. If your child's behavior starts to change, check in with them to see what's going on.
There are multiple ways to protect yourself from being victimized. First off, don’t click on links and attachments sent to you via unsolicited messages.
"When people actually click on those links, it installs malware on their devices where these scammers have access to your device and they encourage you to go to your banking websites and they can see everything and start controlling some of the information associated with your computer," he explained.
Plus, legitimate sources won’t ask you to pay through gift cards or cryptocurrency.
If you’re unsure if a government official is legitimate, Nafey suggested asking for their name and identification card. After that, independently find the number for the government agency they say they’re from and double check with them.
When it comes to romance scams, some red flags are the person never being able to hang out in person and them asking for your money or help.
If you fall victim to a scam, you should immediately reach out to your financial institution, according to Nafey.
"..., because they can potentially put a hold on those assets - a freeze if you will - to stop them from going to that scammer," he explained.
Nafey said you should also hold on to all receipts and documents related to the scam (emails, screenshots, etc.), file a report with local law enforcement, and call the FBI or report the crime at ic3.gov.
Nafey encouraged people to report scams they see to the FBI or the ic3 website even if they didn't fall victim to it so the FBI can better track how scams are evolving.