Broken Hearts, Empty Wallets: IRS and DOJ Combat Elder Fraud
Over $4.89 billion in total annual losses were reported by victims over the age of 60 in 2024. This is up 43% over previous estimates. Typical elder fraud scams include Pig Butchering, in which senior citizens lost over $1.6 billion to this specific crypto investment fraud. Criminals also run Romance Scams to drain retiree’s savings.
The IRS has teamed with the Department of Justice (DOJ) to bring these criminals to justice. This partnership will be the topic of a panel discussion at the Wednesday, January 7th Criminal Tax Update session at Bergen Community College, NJ. This update is ideal for Tax Practitioners, who can earn 5 Free NY & NJ CLE, CPE and 5 IRS CE/5 NASBA CPE Credits for attending.
The session will also be available virtually. Learn more and register here.