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The FBI Internet Crime Complaint Center (IC3) received more than 101,000 reports of scams and fraud against people ages 60 and older in 2023, causing seniors to lose over $3.4 billion. And those ...
A new report from Retirement Living has revealed that Georgia ranks No. 1 in the nation for fraud victims, with 1,564 reports per 100,000 residents.. The peach state also has the highest rate of ...
Types of fraud are diverse, but some stand out as particularly prevalent. Investment scams topped the list, accounting for $4.6 billion in losses, followed by imposter scams at $2.7 billion.
After the Elder Abuse Prevention and Prosecution Act was passed, the Department of Justice announced the Elder Justice Initiative [6] – "to support and coordinate the Department's enforcement and programmatic efforts to combat elder abuse, neglect and financial fraud and scams that target our nation's seniors." 1 New policy must empower law ...
Fraud can violate civil law or criminal law, or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. [1] The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator ...
The scam then becomes an advance-fee fraud or a check fraud. A wide variety of reasons can be offered for the trickster's lack of cash, but rather than just borrow the money from the victim (advance fee fraud), the con-artist normally declares that they have checks which the victim can cash on their behalf and remit the money via a non ...
Free money always comes at a cost. Many are now learning this the hard way, as scammers are increasingly trying to trick potential victims with offers of fraudulent government grants. Consider: 5 ...
Worthless "sweepstakes" that elderly persons must pay in order to collect winnings; A 1996 study by AARP [5] found that while individuals over 50 comprised 35% of the American population, they accounted for 57% of all fraud victims (AARP, 1996). Seniors' level of vulnerability to this type of exploitation varies by the type of scam.