Older Coloradans lost over $54M to scams in 2023: FBI

DENVER (KDVR) — According to new FBI data, just under 3,000 Coloradans over 60 years old reported losing a collective $54 million to scams in 2023.

This averages out to around $18,700 lost per person, well below the $33,915 reported per victim nationwide.

The newly released report is an in-depth look at elder fraud and is part of the FBI’s Internet Crime Complaint Center.

The FBI released its annual report on all fraud in April, and FOX31 investigated to see what Coloradans of all ages lost and what consumers can do to protect themselves.

Investment, tech support scams were most costly

Colorado ranked No. 8 in complaints filed by those over 60, with 2,905 in 2023. However, it ranked No. 18 in the amount of money lost overall at $54,454,519.

Investment scams proved the most costly overall for older Coloradans, with 142 victims losing $20 million, around $140,000 per victim. This sort of scam includes things like retirement and 401K scams.

Tech support scams had more victims, however. Just over 400 victims reported this type of scheme, with victims losing $12.3 million, or just over $30,000 per victim.

These are typically schemes where the scammer poses as technical or customer support.

Confidence and romance schemes, where scammers pose as either a friend or romantic interest to trick people into sending money, cost 120 older Coloradans a whopping $7.2 million. This was about $60,000 per victim.

When it comes to all ages, Coloradans lost $187.6 million last year in just over 11,400 scams total.

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