Senior Identity Theft Statistics

Identity Theft Statistics by Age Group

As of the latest census, there are 55.8 million Americans who are 65 years of age or older2. In an average year, 1 in 10 seniors is a victim of identity theft3. This means that, on any given day, there could be more than 15,000 cases of identity theft among older adults.

It’s a common misconception that older adults are more likely to have their identity stolen than those in other age groups. While elder fraud is a very real problem, the truth is that people between the ages of 30 and 39 are more likely to experience identity theft than those in retirement. Part of the reason for the misconception is how the data is presented, as Americans in their 30s typically have fewer assets than people age 60 and older. People in their 30s are also more likely to check their credit reports and financial accounts regularly, enabling them to catch and report identity theft early on. Identity theft among older adults often takes longer to report and results in much greater financial loss.

To get a better idea of what identity theft looks like for different age groups, here is a breakdown of identity theft based on data provided by the Federal Bureau of Investigation’s Internet Crime Report for 2022:

As you can see from the table above, adults age 60 and above accounted for 21.6 percent of all identity theft claims in 2022 and experienced about 37 percent of the total financial losses. So, while older adults are not necessarily more likely to become victims of identity theft, they do tend to experience far greater losses than any other age group.

It’s important to point out that the data above refers only to cases of identity theft that were officially reported in 2022. Many cases of identity theft, particularly among older adults, go unreported for extended periods of time. This is because older adults may be less likely to closely monitor their financial accounts and credit reports, and may not realize they’ve been the victim of identity theft for months or even years after their data was stolen.

Most Common Types of Identity Theft Among Seniors

There are many different types of identity theft; some occur in person, while others occur virtually or over the phone. Certain types of identity theft scams specifically target seniors4. Here are some of the most common types of identity theft that happen to older adults:

• Medical identity theft: This happens when personally identifiable information (PII) is stolen and then used to bill the victim for medical services or treatments they did not receive.
• Estate identity theft: Estate identity theft occurs after a senior has passed away and someone else fraudulently collects their Social Security checks or other benefits.
• Tax fraud: If an older adult expects to receive a tax refund, someone can use their PII to steal the funds from them.
• Phone scams: Phone scams are very common and vary in both form and strategy. In some cases, a scammer may call or text an older adult and claim to be a family member or acquaintance. In other cases, the scammer may try to make the person believe that they have won a prize or are eligible for a special offer. In either case, phone scams typically seek to collect PII to allow for other kinds of financial fraud and theft.
• Military identity theft: This type of identity theft involves stealing a veteran’s PII in order to collect their military benefits.
• Wire transfer fraud: This type of fraud requires a scammer to gain access to the senior’s banking information so that they can siphon funds from one or more accounts.

How Senior Identity Theft Has Evolved Over the Years

As society becomes more reliant on technology to store and transfer sensitive data and PII, it becomes harder for older adults to keep themselves protected. Sixteen percent of American adults are not digitally literate, and the rate of digital literacy tends to decline as age increases5. This exposes many older adults to online scams, which often involve tricking or coercing the victim into giving out PII to gain access to their government benefits or bank accounts.

Many older adults are also more susceptible to cybersecurity threats, as they are less likely to change passwords, use security software, or even regularly check financial statements than younger demographics. A greater sense of trust and lack of digital literacy can also make it easier for seniors to fall prey to scams that pop up on their phones. Email phishing has been around for years, but now SMS text phishing — known as “smishing” — has become increasingly common. Many automated texts will claim that there is an issue with a purchase, financial transaction, or package delivery to encourage the recipient to click on a suspicious link and voluntarily provide their PII6.

While the internet might have made identity theft easier for perpetrators, identity theft has been around for a long time and doesn’t always occur remotely. Even today, many cases of identity theft are carried out in person. For example, a pickpocket may steal someone’s wallet and use their identification to take out loans or lines of credit. Seniors tend to be at higher risk of this kind of fraud, as they may carry their Social Security number or Medicare card on their person.

Regardless of the methods used to carry out these crimes, the latest data indicates that identity theft and elder fraud are on the rise. According to the 2021 Elder Fraud Report, losses from elder fraud increased by 74 percent between 2020 and 20217; losses from elder fraud increased by an additional 84 percent between 2021 and 20228.