The grandparent scam has been around for a few years, and the FBI’s Internet Crime Complaint Center (IC3) has been receiving reports about it since 2008. But the scam has become more sophisticated. By using the Internet, a criminal can sometimes uncover personal information about their targets, which makes the impersonations more believable.

Phishing is a new twist on an old telemarketing scam, but uses e-mail. These criminals send e-mails to millions of people hoping that even a few will give away valuable information.

According to the Department of Health and Human Services, seniors throughout the United States lose an estimated $2.6 billion or more annually due to elder financial abuse and exploitation.

Recent reports show that only about five percent of the estimated five million cases of financial abuse are reported to law enforcement each year in the United States.