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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.
Comment warning about elderly dad in deepfake scam, advising to get power of attorney. Text comment discussing the risks and frequency of celebrity deepfake scams involving an elderly dad.
Sixteen individuals have been charged in connection with a "grandparent scam" in which hundreds of elderly people were defrauded out of millions of dollars, said U.S. Attorney Philip R. Sellinger.
Older people are disproportionately targeted by fraudulent telemarketers and make up 80% of victims affected by telemarketing scams alone. Older people may be targeted more because the scammer assumes they may be more trusting, too polite to hang up, or have a nest egg. [3] Many older people have money to invest and are in need of profit.
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 ...
In a GOBankingRates survey, 62% of respondents aged 65 and older said they have never been scammed, while only 52% of respondents aged 55-64 had the same response. Conventional wisdom has always...
A scam, or a confidence trick, is an attempt to defraud a person or group after first gaining their trust. Confidence tricks exploit victims using a combination of the victim's credulity , naivety , compassion , vanity , confidence , irresponsibility , and greed .
'Grandson-in-Jail' Scams. This one is a recent twist on a classic: A senior will get a phone call from someone pretending to be a relative, often a child or grandchild.That person will say that ...