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Elder financial scams are skyrocketing, with suspected fraud against seniors up nearly 50 percent in 2023, according to Thomson Reuters data (and 2022 was already a record year, up 50 percent from ...
Seniors are taking the brunt of financial fraud to the tune of $3.4B+. Learn the most common peer-to-peer, impersonation and other scams on the rise to keep your money safe.
The FBI-Boston reports that the most common elder fraud schemes reported to IC3.gov in 2023 were "tech support scams, confidence and romance scams, investment scams, and government impersonation ...
Seniors' level of vulnerability to this type of exploitation varies by the type of scam. For example, the AARP found that lottery fraud victims were more likely to be women over 70 living alone, with lower education, lower income, and less financial literacy, while victims of investment fraud were more likely to be men between the ages of 55 ...
And whatever you do, don’t send cash, gift cards, or money transfers. You can report scam phone calls to the FTC Complaint Assistant. Online scam No. 4: "Tech support” reaches out to you ...
The Elder Abuse Prevention and Prosecution Act promotes the investigation and prosecution of "perpetrators who prey upon seniors, enhanced data collection, and robust elder abuse prevention programs. It calls for the designation of at least one Assistant United States Attorney to serve as Elder Justice Coordinator in each Federal judicial district.
The National Center for Victims of Crime supported the Elder Abuse Prevention and Protection Act of 2017, which increased professional training for federal investigators and prosecutors, designated prosecutors to handle cases of elder abuse in each federal judicial district, established elder justice coordinators in the U.S. Federal Trade ...
In 2023, banks reported more than $27 billion in suspicious activity related to elder scams, according to the Financial Crimes Enforcement Network, and ... 6 Scams Every Older American Should Know ...