Big Tech urged to act as older adults lose billions to scams

The article argues that Big Tech could do more to stop scams, highlighting how older adults are often blamed for fallings for fraud rather than addressing the incentives of the platforms themselves. It cites data suggesting that in 2024, older adults in the US had as much as $81.5 billion stolen, according to the FTC, and that Americans overall lost at least $15.9 billion to fraud last year.

It also notes that, according to Marti DeLiema, scams and fraud are now the most common form of organized crime globally, rivaling weapons and drug trafficking. The piece emphasises that the tools to fight back—consumer awareness, warning messages at the point of transaction, and training for cashiers—are not keeping pace with modern scams. A key line from the discussion states, “This is not a technical capability problem at all. This is a conflict of incentives,” underscoring the report’s central claim about where responsibility lies.