Florida Ranks 2nd in Elder Fraud

June 26, 2024


Florida, a popular destination for retirees, has become a prime target for financial scams. A new FBI report reveals Florida ranks second in the nation for elder fraud, with over $3.4 billion lost by seniors in 2023 alone. Investment schemes, tech support scams, and romance scams were the most frequent methods used to exploit Florida’s vulnerable older population.

Source: CBSNews


This surge in elder fraud exposes the need for stronger safeguards. Seniors are often targeted due to their trust, limited technical knowledge, and potential for cognitive decline. Shame and a fear of being judged can also prevent them from reporting these crimes, allowing fraudsters to continue their schemes.



iCognative offers a novel approach to combatting elder fraud by analyzing brainwave activity during questioning. Individuals are presented with stimuli related to the suspected scam, and iCognative measures the P300 wave, a brain response that occurs when someone recognizes familiar information. By analyzing these brainwaves, iCognative can potentially detect hidden knowledge or involuntary responses that a suspect might not consciously reveal. In the fight against Florida’s elder fraud epidemic, iCognative could be a valuable weapon:

iCognitive presents a promising tool in the fight against elder fraud. By analyzing brainwaves, it could expose hidden knowledge from criminals, track stolen money, and identify those targeting vulnerable seniors.

Source: Brainwave Science