The FBI just reported that elder financial fraud losses rose by 84% in a single year in 2022. Driving that was a 350% jump in cryptocurrency investment losses, with more than 10,000 people over 60 reporting losses totaling more than $1 billion.

Romance scams came in second at more than $400 million. Meanwhile, those notorious "Grandma, I'm in jail, send money" scams netted "only" a reported $3.8 million.

These stats are from the annual Elder Fraud Report recently released by the bureau's Internet Crime Complaint Center. "Only" is in quotation marks because, well, it's like "minor" surgery. It's not so minor when it happens to you or an older loved one. (And these are just the incidents that were reported. The true number may be much higher.)

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Source Fool.com