Through the FBI's latest annual internet crime report, it was shown that nearly $20.9 billion in losses were reported to the Internet Crime Complaint Center. $48.5 million of those losses involved Americans 60 years old and above. Older adults are often targeted for their bank information, retirement funds, and investment portfolios, which means that one incident could result in a major loss. Among the types of fraud American seniors reported were: identity theft, spoofing, and phishing. Fox News advises that in order to avoid these scams, one must limit how personal information is shared, pause before sending money, watch out for unusual account activity, and use account protections.

Many banks rely on Fintech, a company based in Texas, to provide data analytics tools and study customer behavior in order to improve service. This means that they have access to valuable and confidential information. Despite having a firewall provider, in August 2025, Fintech suffered a ransomware attack that affected 672,075 people and their personal information (Knutsson, 2026). This affected many people who use any of the banks partnered with Fintech. The article discloses many ways people can protect themselves from these attacks, such as monitoring bank accounts closely, enabling 2-factor authentication, watching out for targeted scams, and considering theft protection services.