U.S. states with the lowest and highest rates of elderly fraud
With law enforcement agencies raising the alarm about the rising numbers of elderly fraud cases across the land, and the need to be aware of this latest assault on our nation’s seniors, a timely new research study has revealed the numbers of elderly fraud victims per each U.S. state, and which states have the highest and lowest numbers of victims.
Cybersecurity experts at VPNPro looked at data from the Federal Bureau of Investigation and the Federal Trade Commission to see how many victims of fraud were over the age of 60 in 2022. The data was analyzed based on the number of victims aged 60 or over as a proportion of each state’s elderly population.
- Mississippi ranked as the state with the lowest rate of elder fraud victims, with an average of 51.2 victims aged 60 or older per 100,000 residents. The state reported a total loss of $5,459,509 for this age group, the equivalent of $15,336 lost per victim on average.
- Following closely behind with the second lowest rate of elderly fraud is North Dakota, with an average of 61.6 victims per 100,000 people. This state reported losses of approximately $28,024 per victim aged 60 and over, for a combined total of $3,054,570 throughout 2022.
- Louisiana ranks as the state with the third lowest rate of elderly fraud, with an average of 67.1 victims per 100,000 residents. Each victim aged 60 and over lost $25,485 on average during this time period.
- Placing fourth is Wisconsin with an average rate of 67.7 victims per 100,000 people, while West Virginia placed fifth with approximately 68.1 victims per 100,000 residents.
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Top 10 States with the Lowest Rate of Elderly Fraud Victims
| Rank | State | Total amount of money lost by victims aged 60 and over (2022) | Average amount lost per victim aged 60 and over (2022) | Average rate of elderly fraud per 100,000 residents (2022) |
| 1. | Mississippi | $5,459,509 | $15,336 | 51.2 |
| 2. | North Dakota | $3,054,570 | $28,024 | 61.6 |
| 3. | Louisiana | $18,374,982 | $25,485 | 67.1 |
| 4. | Wisconsin | $31,024,115 | $30,150 | 67.7 |
| 5. | West Virginia | $4,460,124 | $13,118 | 68.1 |
| 6. | Kansas | $24,435,433 | $51,770 | 68.6 |
| 7. | Iowa | $12,082,177 | $21,692 | 70.1 |
| 8. | Alabama | $26,756,713 | $29,210 | 73.4 |
| 9. | Nebraska | $16,117,012 | $48,110 | 73.7 |
| 10. | Indiana | $26,497,603 | $22,609 | 73.8 |
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Related, see: “Elder fraud: Scams targeting our nation’s seniors on the rise, costing them billions of dollars”
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At the other end of the scale, Nevada ranks as the state with the highest rate of elderly fraud, with an average of just 261.9 victims per 100,000 residents in the elderly population. This rate is 411% higher than in Mississippi.
Colorado ranks as the state with the second highest rate of elderly fraud, with 231.7 victims per 100,000 people, while Alaska ranks third with 216.5 victims per 100,000 people.
Investment scams were found to have cost elderly victims the most money in 2022, at a total loss of $404 million, with business imposters ($271 million) and romance scams ($240 million) being the second and third most lucrative scams.
In terms of contact methods, those aged 60 and over are more likely to lose money online than any other contact method. Elderly fraud victims have lost a total of $564 million to online fraud (including social media), compared to $90 million to text scams.
The most popular payment method for elderly victims is by bank payment or transfer, producing a total loss of $570 million in 2022. Surprisingly, cryptocurrency is the second most popular method, with a loss of $288 million.
Speaking on the findings, Šarūnas Karbauskas, Technical Writer at VPNPro said, “Analyzing data on elderly fraud victims and losses by state can help policymakers, law enforcement agencies, and advocacy groups better understand the underlying factors contributing to financial exploitation of the elderly. It can also inform targeted interventions and resource allocation to mitigate the impact of fraud and protect vulnerable individuals.”
“Examining which states have lost the most due to elderly fraud can shed light on the economic impact of such activities and potentially reveal areas where financial education and support are lacking.”
Full Table of State Rankings – Highest to Lowest
| Rank | State | Total amount of money lost by victims aged 60 and over (2022) | Average amount lost per victim aged 60 and over (2022) | Average rate of elderly fraud per 100,000 residents (2022) |
| 1. | Nevada | $38,563,008 | $20,148 | 261.9 |
| 2. | Colorado | $66,826,911 | $22,847 | 231.7 |
| 3. | Alaska | $7,646,998 | $24,199 | 216.5 |
| 4. | Arizona | $82,255,007 | $23,216 | 194.0 |
| 5. | South Dakota | $5,634,355 | $17,022 | 147.2 |
| 6. | Wyoming | $5,265,283 | $25,193 | 141.6 |
| 7. | California | $624,509,520 | $54,225 | 136.2 |
| 8. | New Mexico | $13,382,175 | $18,382 | 134.8 |
| 9. | Florida | $328,114,489 | $38,693 | 134.6 |
| 10. | Utah | $27,657,757 | $37,325 | 132.3 |
| 11. | Washington | $96,213,728 | $41,205 | 131.1 |
| 12. | Oregon | $46,324,137 | $35,254 | 121.6 |
| 13. | Virginia | $60,641,280 | $24,782 | 121.5 |
| 14. | Maryland | $63,662,134 | $36,927 | 119.0 |
| 15. | Maine | $12,741,072 | $27,758 | 108.9 |
| 16. | Delaware | $14,023,134 | $45,977 | 106.6 |
| 17. | New Jersey | $92,712,866 | $39,152 | 106.2 |
| 18. | Ohio | $51,041,223 | $16,470 | 104.9 |
| 19. | Idaho | $18,984,217 | $40,739 | 104.1 |
| 20. | Hawaii | $16,334,492 | $40,939 | 103.8 |
| 21. | Texas | $243,067,545 | $42,839 | 100.5 |
| 22. | Vermont | $5,663,838 | $30,127 | 99.7 |
| 23. | Connecticut | $33,660,316 | $37,071 | 98.8 |
| 24. | Missouri | $34,961,102 | $23,261 | 98.4 |
| 25. | Montana | $6,968,157 | $23,621 | 97.4 |
| 26. | South Carolina | $35,610,994 | $27,143 | 96.5 |
| 27. | Massachusetts | $70,100,868 | $42,408 | 95.4 |
| 28. | New Hampshire | $14,665,788 | $39,424 | 94.8 |
| 29. | Arkansas | $24,314,902 | $37,465 | 88.4 |
| 30. | Georgia | $78,736,227 | $39,270 | 87.5 |
| 31. | Tennessee | $36,568,079 | $25,012 | 87.4 |
| 32. | Oklahoma | $19,455,718 | $24,627 | 87.3 |
| 33. | Michigan | $52,520,999 | $23,416 | 87.2 |
| 34. | New York | $212,045,216 | $50,022 | 87.1 |
| 35.(=) | Kentucky | $22,494,352 | $24,007 | 86.1 |
| 35.(=) | Minnesota | $39,211,355 | $33,090 | 86.1 |
| 36. | Pennsylvania | $80,250,904 | $27,663 | 84.3 |
| 37. | Illinois | $75,905,639 | $30,423 | 84.0 |
| 38. | Rhode Island | $7,314,666 | $33,400 | 77.5 |
| 39. | North Carolina | $63,464,255 | $32,396 | 77.1 |
| 40. | Indiana | $26,497,603 | $22,609 | 73.8 |
| 41. | Nebraska | $16,117,012 | $48,110 | 73.7 |
| 42. | Alabama | $26,756,713 | $29,210 | 73.4 |
| 43. | Iowa | $12,082,177 | $21,692 | 70.1 |
| 44. | Kansas | $24,435,433 | $51,770 | 68.6 |
| 45. | West Virginia | $4,460,124 | $13,118 | 68.1 |
| 46. | Wisconsin | $31,024,115 | $30,150 | 67.7 |
| 47. | Louisiana | $18,374,982 | $25,485 | 67.1 |
| 48. | North Dakota | $3,054,570 | $28,024 | 61.6 |
| 49. | Mississippi | $5,459,509 | $15,336 | 51.2 |
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(Sources: FBI, Federal Trade Commission, VPNPro)
(Cover photo, Image credit: RDW Productions)
Posted by Richard Webster, Ace News Today
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