Scammers are swiping billions from Americans every year. Worse, most crooks are getting away with it
Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the U.S. population ages and technology makes it easier to successfully perpetrate fraud
By MICHAEL RUBINKAM
Published - Jul 07, 2024, 01:57 PM ET
Last Updated - Jul 07, 2024, 01:57 PM EDT
The scammers are winning.
Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the U.S. population ages and technology like AI makes it easier than ever to perpetrate fraud and get away with it.
Internet and telephone scams have grown “exponentially,” overwhelming police and prosecutors who catch and convict relatively few of the perpetrators, said Kathy Stokes, director of fraud prevention at AARP’s Fraud Watch Network.
Victims rarely get their money back, including older people who have lost life savings to romance scams, grandparent scams, technical support fraud and other common grifts.
