Report: Indiana has 2nd highest rate of senior fraud

WXIN/WTTV -- A new report says Indiana has the second-highest rate of fraud against senior citizens in the nation.




According to the report from Caring.com, Americans over the age of 60 lost $4.8 billion to fraud and scams. Based on population, Indiana ranked second in the nation with 76.9 complaints per 100,000. Only Arizona ranked higher. Indiana was followed by Nevada, Alaska and New Mexico.




In addition, the report found Indiana has seen the biggest increase in fraud against older adults over the past three years, rising 240%. 




"This rise in cases could be attributed to Indiana's aging population," the report states. "By 2030, people aged 65 and over are projected to make up 20.1% of the state's population, which could lead to even larger rates of scamming seniors."




The writers of the report hope the sobering numbers will encourage families to have conversations about fraud with their older loved ones, as well as encouraging seniors to safeguard themselves.  




The researchers offered the following suggestions:

• Avoid Pressure to Act Quickly: Scammers create a sense of urgency to rush victims into handing over money or personal information.





• Watch for Tech Support Scams: Scams where people posed as IT professionals were the most reported fraud type in 2023, with over 17,000 cases involving people over 60.





• Be Cautious of Cryptocurrency Payments: Seniors lost over $108,000 per case to cryptocurrency scams, often linked to romance scams.