New Yorkers Lost More Than $700 Million to Fraud Last Year

Scammers are hitting New Yorkers hard, and older residents are being targeted more than ever. According to new information, fraud losses across the state was over $700 million last year alone.

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To help fight back, AARP New York recently had its “Big Shred NY!” campaign, by helping residents get rid of sensitive documents that could otherwise end up in the wrong hands.

Identity Theft Still Starts With Paper Documents

While online scams and cryptocurrency fraud get the headlines, experts say that old fashioned identity theft is still a huge problem. Thieves continue to dig through trash and recycling looking for bank statements, medical paperwork, and other personal information they can use to steal identities.

That’s why AARP hosted free shredding events in more than two dozen communities across New York. More than 7,000 people signed up, and nearly 420,000 pounds of documents were shredded throughout the Empire State.

Older New Yorkers Are Losing Huge Amounts of Money

New Yorkers age 60 and older lost $408 million to scams last year, which was an increase of $151 million from the year before. According to the FBI’s Internet Crime Complaint Center, that is nearly $47,000 lost every single hour. Officials say imposter scams remain one of the most common fraud tactics right now.

Experts Say Simple Habits Can Help Protect You

AARP says bad habits like reusing passwords, answering unsolicited calls or texts, and not using multifactor authentication can leave people open to scams.The organization continues to offer free fraud prevention help, workshops, and scam awareness programs for New Yorkers all year long.