Cybercriminals are having a field day targeting America’s elderly population.
The FBI just revealed how much damage they’re causing.
And the FBI warned about one scam targeting seniors that will leave you speechless.
Billion-dollar scam draining America’s seniors
The FBI issued a stark warning about what they’re calling the "Phantom Hacker Scam" – a sophisticated operation that has cost Americans over $1 billion since at least 2024.¹
The scammers specifically target seniors, knowing they’re the most vulnerable to these elaborate schemes.
These aren’t random phone calls from basement-dwelling amateurs.
This is organized criminal activity operating like a well-oiled machine, systematically draining the life savings and retirement accounts of elderly Americans who worked their entire lives to build financial security.
The scam operates in three carefully orchestrated phases that would make any con artist proud.
First, victims get contacted by fake "tech support" representatives who convince them to download software that gives scammers complete access to their computers.
Then comes phase two – fake bank employees who claim the victim’s money has been "accessed by a foreign hacker" and needs to be moved to a "safe" account.
The final phase brings in someone posing as a federal government employee who instructs victims to move their funds to an "alias" account for "protection."
Expert reveals how AI makes scams more personal
Pete Nicoletti, chief information security officer at Check Point, told Fox News Digital that scammers are now using artificial intelligence to get disturbingly personal with their targets.
"The criminals are actually using artificial intelligence to look for those type of characteristics and profiles," Nicoletti explained.²
Here’s how twisted this has become.
Scammers are trolling through Facebook profiles looking for personal details about seniors’ hobbies and interests.
If they find out someone collects vintage cars, they’ll send an email claiming there’s a Corvette available for delivery that the victim supposedly ordered months ago but "forgot" about.
"And they’ll send you an email or a message saying, ‘hey, that Corvette that you ordered a month ago is now available. It’s, you know, for $500, you can get it . . . and we’ll deliver it to you right away,’" Nicoletti said.²
The senior thinks, "Well, I’m a Corvette collector. Maybe I was forgetful and I didn’t know that I ordered that Corvette, or, you know."
This isn’t just random spam anymore – it’s psychological warfare using AI to exploit the specific vulnerabilities of individual victims.
Recovery rates reveal devastating truth
But here’s the part that should make every American’s blood boil.
Nicoletti revealed that victims almost never get their money back, even after reporting the theft to authorities immediately.
"It’s devastating," he said. "If [victims report their funds stolen] the same day, there’s a chance. I think it’s in the single digit percentages. It’s, you know, 10, 15%. I’ve heard, I have heard of people getting their money back. If it delayed beyond that, it’s not good. It’s gone."³
Let that sink in for a moment.
These criminals are stealing billions from America’s most vulnerable citizens, and our law enforcement system can only recover maybe 10-15% of the money when victims report it immediately.
That’s not a justice system – that’s a systematic failure to protect the people who built this country.
What this means for America’s seniors
The fact that scammers are now using artificial intelligence to personalize their attacks represents a dangerous escalation in the war against America’s elderly population.
These aren’t just opportunistic criminals anymore.
They’re sophisticated operations using cutting-edge technology to psychologically manipulate seniors by exploiting their personal interests and potential memory concerns.
Think about what this means for the average 75-year-old who posts pictures of their grandchildren, their vintage car collection, or their hobby activities on Facebook.
Scammers are literally mining that personal information to craft targeted psychological attacks designed to exploit the specific vulnerabilities of individual victims.
The three-phase approach shows these criminal organizations understand exactly how to build trust and create urgency – the two key ingredients needed to separate seniors from their life savings.
And the government agencies supposed to protect our elderly citizens are failing miserably at their most basic job.
The abysmal recovery rates mean that once the money is gone, families are left dealing with the devastating aftermath of watching their loved ones’ financial security disappear overnight.
But here’s what really makes this infuriating.
The same government that can track every purchase you make, monitor every phone call, and collect massive amounts of data on law-abiding Americans somehow can’t trace these scammers or recover stolen funds.
We have the technology to put a man on the moon, but we can’t figure out how to stop criminals from stealing billions from America’s greatest generation.
Nicoletti’s advice for families is simple but crucial: "The family should have dinner-time discussions about this."⁴
But that conversation needs to happen before scammers come calling, not after they’ve already struck.
The reality is that America’s seniors are under siege from organized criminal networks that are getting more sophisticated by the day, while our ability to protect them or recover their stolen funds remains embarrassingly inadequate.
¹ FBI Los Angeles, X Post, July 15, 2025.
² Adam Sabes, "FBI warns seniors about billion-dollar scam draining retirement funds, expert says AI driving it," Fox News, August 24, 2025.
³ Ibid.
⁴ Ibid.
