Scams & Fraud

Cryptocurrency scams have surged in recent years, with billions stolen annually. One of the biggest drivers of this trend? Romance scams. The free, live Fighting Fraud with AARP Connecticut webinar on Friday, April 25, at 12 p.m. will spotlight one victim’s story of romance, loss, and how the experience motivated her to advocate for other victims.

Scams take many forms so being aware and understanding the variety of ways criminals use to steal money can help you stay a step ahead of scams. Scammers may seek payment through hard-to-trace methods with few or no protections including gift cards, cryptocurrency, wire transfers, peer-to-peer apps and, more recently, gold bars.

Scammers are continually perfecting their scams, getting more sophisticated, learning new techniques with new technology, and honing their methods to better manipulate their targets. If we really want to keep ourselves - and our money - safe from fraud, we must all come to terms with one thing: our personal information is likely already out there.

AARP Connecticut works with lawmakers on both sides of the aisle to advocate for and support policy and regulations that are in the best interest of people 50+ and their families in Connecticut.

Across the country, someone’s identity is stolen every two seconds. Fraud is an escalating crisis, with losses far exceeding what is reported. While $9 billion in fraud losses were reported in 2022, The Federal Trade Commission (FTC) estimates the true financial impact at $137 billion due to underreporting. The impact on victims and their families can be financially and emotionally devastating, especially for older Americans.

Learn how to stay ahead of criminals with a free bimonthly webinar series that delves into everything from artificial intelligence to cryptocurrency to romance scams.

Last year the Federal Trade Commission recorded $10 Billion in reported fraud from U.S. consumers. Because fraud is underreported, we know that actual losses are much higher.

Connecticut consumers lost more than $70 million to fraud in 2023, according to the Federal Trade Commission. The Bulletin spoke with Connecticut Attorney General William Tong (D) in April about fraud-fighting efforts.

Spring has sprung and with warmer weather comes home repairs. Unfortunately, shady contractors are out there looking for homeowners in the market for spring repairs. Contractor fraud and home improvement scams can cost homeowners thousands of dollars and leave them with shoddy workmanship, unfinished projects, or even damage to their homes. Scammers often target older adults, but anyone can fall victim to these scams.

In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal Trade Commission data. A new state law aims to protect older Americans from financial exploitation.