An FBI report has revealed that scams targeting the elderly cost Americans over $3.4 billion in 2023. Business Email Compromise (BEC) was identified as the second costliest type of crime tracked by the FBI's Internet Crime Complaint Center (IC3), leading to billions of dollars in reported losses. Data brokers are fueling the rise of elder fraud, which is exacerbated by the increasing use of cryptocurrencies and rapid money transfers, making it more difficult to recover stolen funds. Experts are advising the public on how to protect their families from these scams.