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Seniors offer an easy jackpot for scammers, to the tune of $3 billion in losses annually. They are often homeowners, sitting on top of savings, and in good credit. They are often homeowners ...
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.
A common scam targeting businesses is the toner bandit swindle; an unsolicited caller attempts to trick front-office personnel into providing manufacturer/model or serial numbers for office equipment and/or the name of the employee answering the call. Often, the call will be misrepresented as a "survey" or a "prize" award. [102]
Legitimate surveys are usually unpaid (as with a Gallup poll) or incentivized. Surveys where the respondent must pay or purchase products to join a panel are generally scams, as are sites that disappear before paying the participants. [1] Legitimate surveys do not need credit card information from respondents. [2]
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 ...
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