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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, with the number of older Americans reporting losses of ...
The con artists may make up a heartbreaking story and ask for financial help, request that the target be a cosignatory for a loan, or even convince the target to sign over power of attorney ...
Hoosiers also reported losses stemming from scams and fraud related to tech support ($8.9 million), compromised business emails ($4.3 million), extortion ($4.2 million), and confidence and romance ...
Older adults have lost billions to scam artists who use phones and computers to break, enter and steal. Thefts targeting seniors are big business. Column: They each lost almost $80,000.
The Older Americans Act of 2006 defines elder financial abuse, or financial exploitation, as “the fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including a caregiver or fiduciary, that uses the resources of an older individual for monetary or personal benefit, profit, or gain, or that results in ...
Cryptocurrency is a popular scam right now since many seniors know so little about it. If you are offered an investment on the phone, turn it down and do your own research. Dan Shick/Wikimedia Commons
A similar scam starts with a less dramatic scenario, perhaps, but with no less urgency. The senior receives a call that a familiar service is about to expire and payment is needed.
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 ...