Scammers are increasingly targeting older adults in Maryland. Advocates argue Maryland is targeted because of a larger number of employees who have a pension plan.
In a Maryland Matters article, AARP Maryland recently held an event that highlighted where scammers are increasingly targeting older adults. AARP, federal and state partners, along with other advocacy groups, are advocating for increased efforts to protect this population of Marylanders.
From the article:
According to AARP, older Americans reported nearly $4.9 billion in losses due to fraud in 2024, a 43% increase from the previous year. The average loss for those 60 and older was $83,000.
According to the article, the Federal Trade Commission (FTC) has data depicting 40,000 reports of fraud in Maryland in 2024 alone. These reports have increased since 2023, resulting in a loss of over $200 million. Adults over the age of 60 have a higher chance of being targeted by fraudsters. Maryland ranks near the top in fraud and identity fraud, arguably because it has a higher number of adults with pensions, especially those who work in government, including county government.
Legislation passed in the 2025 legislative session sponsored by Senators Pam Beidle and Shelly Hettleman aimed at decreasing fraudulent scammers in Maryland. The legislation establishes a regulatory framework for virtual currency kiosks. Bad actors can exploit these kiosks, which lack regulation, to scam people, including older adults.
From AARP’s testimony on SB 305:
One real-world example here in Maryland involved a resident who received a call from someone posing as a Microsoft representative. The scammer claimed the victim’s bank account was compromised and instructed them to withdraw $4,500 in cash and deposit it into a nearby cryptocurrency kiosk. The funds were immediately converted into digital currency, transferred through multiple anonymous wallets, and ultimately used for international payments— completely unrecoverable.
