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Seniors tend to own their homes and have strong credit and ample savings, according to the FBI. They're also less likely to report fraud and tend to be less familiar with technology.
Reverse mortgages, or home-equity conversion mortgages, increased by a staggering 1,300% between 1999 and 2008 (the property crash). They're still a popular target for scammers today.
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 Spanish Prisoner scam—and its modern variant, the advance-fee scam or "Nigerian letter scam"—involves enlisting the mark to aid in retrieving some stolen money from its hiding place. The victim sometimes believes they can cheat the con artists out of their money, but anyone trying this has already fallen for the essential con by ...
Best practices • Don't enable the "use less secure apps" feature. • Don't reply to any SMS request asking for a verification code. • Don't respond to unsolicited emails or requests to send money.
This Maryland senior was tricked into believing she was an FBI ‘asset’ in a drug smuggling case — the scam cost her nearly $600K. ... Reading details like this may make it seem like an ...
AMAC supports a plan for Social Security which would gradually increase the earliest retirement age to 64 (from 62) and "guarantee cost-of-living increases in a tiered structure based on income." [ 4 ] AMAC supports the oil and gas industry, claiming that they "are safer for the environment than ever before."
Mrs. K., a retired educator living in the downtown L.A. area, was shopping online for a car several weeks ago when she got reeled in. The scam began with a pop-up alert about a computer virus and ...