Elder Fraud In Michigan: Staggering $52.5 Million Lost

Hold onto your bifocals, folks. Michigan's seniors have been swindled and cheated out of a staggering $52,520,999 in a single year. That's right, according to a study conducted by VPNPro, our beloved elders (60 and older) are falling victim to fraud at an alarming and ever-increasing rate. The Mitten state averages 87.2 elderly scam victims per 100,000 residents.

It's not just about money, either—these scams wreak havoc on the lives of senior citizens. Tech support scams are particularly tough on those aged 60 and over, as they are 517% more likely to be scammed than their younger counterparts. It's like taking candy from a baby, but somehow more despicable.

Shocking Numbers: Michigan's Elderly Under Siege

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The cybersecurity gurus at VPNPro poured through the most recent available data (2022) from both the Federal Bureau of Investigations (FBI) and the Federal Trade Commission (FTC) and discovered that Michigan had 2,243 elderly fraud victims in a single year. With losses averaging $23,416 PER VICTIM, driving the state's jaw-dropping total north of $52.5 million. That's not spare change; that's life-altering amounts of money.

On a national level, investment scams were the worst offenders, draining $404 million from elderly victims' bank and retirement accounts. Business imposters and romance scams followed, with losses of $271 million and $240 million, respectively.

Online Threats: Michigan Seniors Are Being Targeted on the Internet

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According to VPNPro's study, Michigan seniors are more likely to be scammed online than through any other method. In 2022, they lost $564 million nationwide to online scams, including social media trickery like catfishing. Compare that to the $90 million lost throughout the country to text scams, and it's pretty clear the internet isn't the safest place for Michigan's seniors.

Ready to see how Michigan ranks against the other states? Check out the gallery ranking the 50 states for elder fraud. Michigan's position may surprise you.

Staggering Elderly Victim Fraud Rate in Every State Revealed

Senior citizens are one of scammers favorite targets and with artificial intelligence making it easier to fool even the sharpest among us, those 60 and older are seeing their accounts drained by manipulative and deceptive tactics. VPNPro recently conducted a study, the goal of which was to determine which state in America has seen the most senior scams. Here's a look at the VPNPro's 50 State Ranking for Elder Fraud. For the full methodology, see the #1 state for elder fraud in the United States.

Gallery Credit: Scott Clow

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