Latest news with #KathyStokes
Newsweek
26-07-2025
- Business
- Newsweek
Elderly Americans Lose $745M to Scams in 2025 So Far
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Americans age 60 and older have lost more than $745 million to scams in the first three months of 2025, nearly $200 million more than at the same point last year, according to the Federal Trade Commission (FTC). Newsweek has reached out to the FTC for comment via email on Saturday. Why It Matters Scams can take many forms, including romance schemes to investment fraud to warnings about an alleged overdue ticket or toll payment. Fraudsters often target older adults, and last year, adults over 60 years old reported they lost more than $2.3 billion to fraud. Scammers use a variety of methods, including phone calls, payment apps or service, and social media applications. So far in 2025, there have been over 677,000 fraud reports across the country, with over $3.18 billion losses, according to the FTC. What To Know Between January and March 2025, Americans ages 60 to 69 reported 60,379 fraud incidents, accounting for 16 percent of all fraud reports so far this year, according to the FTC. Those reports resulted in an estimated $355 million in losses, with a median loss of just under $600. Older adults ages 70 to 79 reported fewer fraud cases, however with higher median losses. More than 45,000 incidents totaling $299 million in losses, with the media loss just under $1,000. With still fewer cases but much higher median losses, Americans age 80 and older reported just over 12,500 scams from January to March, costing $91 million in total, and around $1,900 in median losses. Altogether, older Americans have reported more than $745 million in losses to scams in the first quarter of 2025. Last year, the FTC noted that Americans aged 60 and above reported $546 million losses in scams. An over 90-year-old lady makes a telephone call on June 30, 2024 in Norden (Lower Saxony). An over 90-year-old lady makes a telephone call on June 30, 2024 in Norden (Lower Saxony). Matthias Balk/picture-alliance/dpa/AP Images What People Are Saying FBI Miami wrote in a July 21 X post: "Each year, millions of older Americans fall victim to online financial fraud, though many do not report it. If you or a loved one are a victim of fraud, we encourage you to report elder fraud to the FBI through the Internet Crime Complaint Center at Kathy Stokes, AARP's director of fraud prevention programs, said in a May press release: "The seismic growth of reported fraud continues unabated. The impact on older adults is often catastrophic." She noted scams can cause "emotional and health harms, fraught family dynamics and, in many cases, the reality that despite having saved for a secure retirement, they are left to survive on local, state and federal safety nets." What Happens Next? The FTC and FBI urge affected individuals to report scams at or as reporting assists with investigations and helps authorities track emerging patterns. Families are encouraged to talk with older relatives about common scam tactics, verify any unsolicited communications, and consult trusted sources such as the FTC or AARP for guidance. The FTC is hosting a virtual "Consumer Protection and Older Adults Roundtable" on July 31 at 1 p.m. ET. The roundtable discusses the latest imposter scam trends, tools to protect consumers' savings, and resources to combat against scams.
CBS News
02-05-2025
- CBS News
These online habits increase your risk of fraud. Are you making these mistakes?
64% of people surveyed admitted this bad tech habit – why it puts you at risk 64% of people surveyed admitted this bad tech habit – why it puts you at risk 64% of people surveyed admitted this bad tech habit – why it puts you at risk A new report reveals that everyday online habits may be putting people at an increased risk of fraud. The AARP Fraud Watch Network examined how many Americans may not know the common digital behaviors that leave them vulnerable. It comes on the heels of newly released FBI data showing scammers and cybercriminals stole a record $16.6 billion in 2024. The good news? A few easy changes can go a long way to reducing your potential risk. Bad habits AARP found that one of the most common mistakes people make is reusing passwords. Most Americans — 64% — reported using the same password across multiple accounts. That means a hack on one account can put all of your accounts at risk, warns Kathy Stokes, AARP's director of fraud prevention. Using social media logins to access other websites poses similar security risks, she said. About half of those surveyed said they've downloaded unverified apps or tapped on an unknown link to take an online quiz on social media, which can expose you to malicious software. More than a third say they accept calls, texts and friend requests from people whom they do not know. AARP warns criminals seize any opportunity to manipulate their target's emotions, so not engaging can reduce the risk of victimization. The survey's most significant finding, according to Stokes, is that 90% now agree anyone can be a scam victim, signaling a major cultural shift. "We used to believe it just happened to a certain segment of our society and with the AARP, I can tell you, the focus has been on older adults, but we've really sort of blown that out of the water and help people understand that, yes, it can happen to anybody," Stokes said. "It doesn't have to do with age or tech savvy." Protecting yourself Stokes says one of the easiest things people can do is update their passwords. "It's hard to make a behavior change, especially when it's going to slow you down," Stokes said. "But there are tools to help us do that." Cybersecurity experts recommend using a password manager, a program designed to help you create and manage multiple passwords in a single encrypted database. Enabling multifactor authentication (MFA) when available on accounts is another way to reduce your risk. MFA adds an extra layer of protection beyond just passwords by typically requiring a verification code that is sent via text or email. While findings show most now believe fraud can happen to anyone, AARP found most people still don't report when they've been a victim of fraud and a majority don't warn others about their fraud experience. If you think you've been a victim of fraud or a scam, you can report it to the FBI's Internet Crime Complaint Center (IC3) by visiting the Federal Trade Commission (FTC) and your local law enforcement agency. You can read the full report on AARP's website. Do you have a money question, a consumer issue, or a scam story you want to share? Email InYourCorner@
Yahoo
29-04-2025
- Yahoo
Survey: 276 million adults at risk of cyber threats via apps, quizzes
AUSTIN (KXAN) — Watch out the next time you take a quiz on social media or download an app, it could be a scam. 'You may think responding to a quiz on social media is [a] fun, good way to spend some time, a couple of minutes, right?' said Kathy Stokes, the fraud prevention director with AARP. 'But that could be giving information to criminals to better target you. A recent report from AARP found that more than 276 million adults have encountered potential cyber threats by downloading unverified apps or taking social media quizzes. Experts blame cyber criminals evolving with sophisticated scams. 'It used to be like the grifter, the guy in his mom's basement, you know, trying to find people on social media. This is all organized crime, and it's coming from all over the world,' Stokes said. 'It's a business, they have the money, they have the time, they have the staff, and quite often, people are being exploited.' Stokes said cyber thieves are robbing American's billons of dollars. 'The FTC — Federal Trade Commission — reported losses at 10 billion, which was just insane,' explained Stokes. 'But then, 10 months later, said, based on underreporting, it was probably more like $158.3 billion in one year leaving our economy.' The report suggests updating passwords and enabling security features can significantly reduce your risk of becoming part of a growing number of victims. AARP's survey found the following: 64% of adults reuse passwords across multiple accounts. 35% of consumers use social media logins to access other platforms—a risky practice, especially among 18–49-year-olds (48%). 64% of Americans don't use VPNs when on public Wi-Fi. 90% now agree that anyone can fall victim to scams—marking a cultural shift in perception. 'In 2017, 2018, we were looking at maybe 15% of the population having fraud losses of significant money, identity fraud, and now we're up to 41%. I think that's staggering,' said Stokes. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
29-04-2025
- Yahoo
AARP warns of growing fraud among U.S. citizens
LAS VEGAS (KLAS) — Fraud committed in the U.S continues to grow exponentially. 'We used to see maybe 15 percent of people, seven or eight years ago, reporting that they've experienced fraud, now we're up to 41 percent,' Kathy Stokes, the Director of Fraud Prevention programs with the AARP Fraud Watch Network, said. Stokes said while fraud affects people of all ages, older adults often face the greatest financial losses, putting their retirement security and well-being at risk. The measures to protect oneself remain the same across the board. From food delivery services to financial accounts, many people still reuse the same passwords. This is a big no-no, Stokes said. Change these out for unique and strong passwords for every single account, Stokes suggested. Using a password manager could help you keep track of them all. 'If we don't do it, we're putting ourselves at risk, that one criminal enterprise will crack one, and all of them,' Stokes explained. Downloading an app on social media? Don't do it if its from an unofficial source, because fake apps that mimic popular and legitimate apps will expose you instead to fraud and cyber threats. Before downloading an app, read reviews and ratings from other users; use official app stores like the Google play store, and Apple app store. New research shows more Americans nowadays believe anyone can be a victim of fraud, not just the not too tech savvy. Stokes said this shift in thinking is important, 'It's really important that we understand, this is a crime, that it isn't the fault of the victim. We begin to see a shift, and what we do about it as a society.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
