Virginia elders lost over $100 million to scams last year. Spanberger says ‘bad actors’ must be held accountable

In 2024, thousands of older Virginians picked up the phone, opened an email, or answered a message from someone they thought they could trust. Many never got their money back.

According to newly released data from the FBI’s Richmond Field Office, seniors in Virginia lost $106 million last year to scams, placing the Commonwealth 11th in the nation for total elder fraud losses. Nationally, complaints jumped 46% from the previous year, with losses totaling nearly $5 billion.

“Fraud schemes like these pose a threat to Virginians’ hard-earned savings and often prey upon some of the most vulnerable members of our communities,” said Democratic nominee for governor Abigail Spanberger, in an email to The Dogwood. “As governor, I will work closely with the Office of the Attorney General to hold bad actors accountable and stand up for Virginians’ financial security.”

Before entering politics, Spanberger spent nearly a decade working at the CIA as an operations officer focused on counter-terrorism and tracking foreign threats. In Congress, she’s served on the House Foreign Affairs and Intelligence Committees—roles that have shaped her views on both cybersecurity and domestic safety.

The warning from Spanberger comes as elder fraud surges across the country, fueled by sophisticated scams that often begin online. Criminals posing as tech support specialists, government agents, or even romantic partners use digital platforms to build trust before stealing thousands of dollars from unsuspecting victims. The FBI has pointed to common methods such as investment scams, fake customer service calls, and “money mule” recruitment, all of which frequently rely on digital tools or social media messaging..

“Every scam we stop is a promise kept to the families and every case we investigate is a chance to bring justice for the victims,” said Acting Special Agent in Charge Stephen Farina, of the FBI Richmond office. “We will not let criminals target our most vulnerable, including the elderly, without consequences.”

Virginia lawmakers have taken some steps to intervene. In 2024, the state General Assembly unanimously passed House Bill 692, a bipartisan bill introduced by Del. Michelle Maldonado. The bill allows financial institutions to notify a trusted contact when they suspect fraud against an older adult and encourages training for staff to recognize and report signs of exploitation. The law, which took effect July 1 last year, was backed by Democrats and Republicans alike.

But so far, the digital platforms where many of these scams originate, such as social media sites  like Facebook or Instagram, search engines or messaging apps, remain largely unregulated. And while families and financial institutions are increasingly asked to act as watchdogs, advocates and some lawmakers argue that the companies enabling these crimes must be held accountable.

To help prevent these scams, the FBI urges seniors and their caregivers to take basic precautions: slow down and resist pressure to act quickly, search online for unfamiliar names or offers before engaging, and never share personal or financial information with unverified sources. They also recommend being cautious of unsolicited phone calls or messages, and contacting your bank immediately if suspicious activity occurs.

The FBI urges anyone who suspects a scam to report it http://www.ic3.gov/, local authorities, or by calling 1-800-CALL-FBI.