(Last Updated On: August 14, 2023)

Scam Victim Suicides Are Up – New Data Hints

By SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

Risk of Suicides in Scam and Financial Fraud Victims Is Sharply On The Rise

Scams and financial fraud can have a devastating impact on victims, both financially and emotionally. In some cases, the emotional toll can be so great that victims may feel like they have no other way out but to commit suicide and take their own life.

Table of Contents

Suicides Risk

The risk of suicide is especially high among elderly victims. A study by the National Center for Victims of Crime found that the rate of suicides among elderly scam victims is twice as high as the national average. Add on the loss of their life savings and the impact is obvious!

There are a number of reasons why scam and financial fraud victims may be at risk of suicides. These include:

  • Financial loss: Scams and financial fraud can lead to significant financial losses, which can have a devastating impact on victims’ lives. They may lose their homes, their retirement savings, or their ability to provide for themselves or their families.
  • Sense of Shame and Guilt: Many scam victims feel ashamed and guilty about being scammed. They may blame themselves for being gullible or naive. This can lead to feelings of worthlessness and hopelessness.
  • Isolation: Scam and financial fraud can be isolating experiences. Victims may feel like they are the only ones who have been scammed, and they may be reluctant to talk about it with others. This can lead to feelings of loneliness and despair.
  • Fear: Many scam victims take out loans from less than credible sources, and when they are unable to pay these back they face real risks – this is especially true in Asia, Eastern Europe, and Latin America

Estimations of Suicides

  • SCARS alone is contacted by 3-5 individuals a day stating they are going to commit suicide a day – an increase of 300% in the last 2 years.
  • In the UK Action Fraud police agency admits that they are contacted by over 300 suicidal victims a year.
  • A study by the Federal Trade Commission (FTC) found that 26% of scam victims reported feeling depressed, anxious, or stressed as a result of the fraud. And 12% said they had considered suicide.
  • Hong Kong charity says 20 percent of scam victims have suicidal thoughts

SCARS Analytics now indicates that suicides resulting from scams/financial fraud have reached a new high – above 30 people dying a day in the USA, UK, Canada, Australia, and New Zealand!

In actuality, we believe the number worldwide is probably closer to 150 or above a day now. The global number is above 50,000 suicide deaths per year.

But we admit this is extraordinarily hard to quantify and track suicide deaths. Suicides are almost never attributed to a reason in police or medical examiner reporting. So correlating suicides to a crime is almost impossible.

Felony Murder

According to Cornell Law Shcool:

The felony murder rule is a law in most states and under federal law [in the United States] that allows anyone who is accused of committing a felony to be charged with murder if the commission of that felony results in the death of someone. The people involved in the felony may be charged for murder under the rule even if they had no intention of killing someone.

SCARS encourages law enforcement and prosecutors to take the time to dig deeper since a suicide caused by financial fraud could be felony murder – death during the commission of a felony.

We encourage prosecutors to start exploring this seriously when they prosecute criminals that commit these crimes. There is blood on their hands!

We encourage the Department of Justice to go back and explore the financial fraud cases they have prosecuted in the last few years to see if there were cases that qualify.

Suicides Examples

Summary

The truth is no one knows the total numbers, but based on the data available it is huge. The United States Centers for Disease Control estimate that 0.5% of those thinking about suicide actually take their lives.

If 1 in 4 victims are thinking about suicide, and if that is the case, and we have 2-3 million new victims a year, then that suggests that there are 250,000 scam/fraud victim suicides a year! A staggering number!

If an identified victim took their life, then the criminals the perpetrated the crime that led to that should be prosecuted for that death! If we started charging scammers with murder it would change the risk factor for them enormously!

We all have a responsibility to stop arguing over who is responsible and to take action now!

If You Need To Talk To Someone Right Now

If you feel that you must talk to someone right now call this number (in the U.S. & Canada): 988 / 1-800-273-8255 – it is available 24 hours in English and Spanish. To find other crisis hotlines for your country search on Google for “Crisis Hotline.” Remember, there is no shame in asking for help. The Lifeline and 988 : Lifeline (988lifeline.org)

Worldwide: Here Are The Numbers You Can Call:

Source Data:

  • FTC: The FTC data was from the Federal Trade Commission (FTC): “2021 Consumer Sentinel Network Data Book”
    The study was released in February 2022 and analyzed data from over 2.8 million fraud reports filed with the FTC in 2021. The study found that 26% of scam victims reported feeling depressed, anxious, or stressed as a result of the fraud. And 12% said they had considered suicide.
    The study also found that the risk of suicide was higher among elderly victims. Elderly victims were twice as likely as younger victims to report feeling depressed, anxious, or stressed, and three times as likely to say they had considered suicide.
    The study’s findings underscore the importance of providing support to scam and financial fraud victims. Victims should be encouraged to seek help from mental health professionals if they are feeling suicidal. The police and prosecutors should also be doing more to hold the criminals behind these crimes accountable.
  • SCARS Data: Internal SCARS Analytics – unpublished analysis
  • US CDC: Suicidal Thoughts and Behaviors Among Adults Aged ≥18 Years — United States, 2015–2019 | MMWR (cdc.gov)
  • PMC: Suicide in the elderly: a 37-years retrospective study – PMC (nih.gov)

Resources:

More:

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PLEASE NOTE: Psychology Clarification

The following specific modalities within the practice of psychology are restricted to psychologists appropriately trained in the use of such modalities:

  • Diagnosis: The diagnosis of mental, emotional, or brain disorders and related behaviors.
  • Psychoanalysis: Psychoanalysis is a type of therapy that focuses on helping individuals to understand and resolve unconscious conflicts.
  • Hypnosis: Hypnosis is a state of trance in which individuals are more susceptible to suggestion. It can be used to treat a variety of conditions, including anxiety, depression, and pain.
  • Biofeedback: Biofeedback is a type of therapy that teaches individuals to control their bodily functions, such as heart rate and blood pressure. It can be used to treat a variety of conditions, including stress, anxiety, and pain.
  • Behavioral analysis: Behavioral analysis is a type of therapy that focuses on changing individuals’ behaviors. It is often used to treat conditions such as autism and ADHD.
    Neuropsychology: Neuropsychology is a type of psychology that focuses on the relationship between the brain and behavior. It is often used to assess and treat cognitive impairments caused by brain injuries or diseases.

SCARS and the members of the SCARS Team do not engage in any of the above modalities in relationship to scam victims. SCARS is not a mental healthcare provider and recognizes the importance of professionalism and separation between its work and that of the licensed practice of psychology.

SCARS is an educational provider of generalized self-help information that individuals can use for their own benefit to achieve their own goals related to emotional trauma. SCARS recommends that all scam victims see professional counselors or therapists to help them determine the suitability of any specific information or practices that may help them.

SCARS cannot diagnose or treat any individuals, nor can it state the effectiveness of any educational information that it may provide, regardless of its experience in interacting with traumatized scam victims over time. All information that SCARS provides is purely for general educational purposes to help scam victims become aware of and better understand the topics and to be able to dialog with their counselors or therapists.

It is important that all readers understand these distinctions and that they apply the information that SCARS may publish at their own risk, and should do so only after consulting a licensed psychologist or mental healthcare provider.

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The opinions of the author are not necessarily those of the Society of Citizens Against Rleationship Scams Inc. The author is solely responsible for the content of their work. SCARS is protected under the Communications Decency Act (CDA) section 230 from liability.

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