Senior Scams on the Rise

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Senior Scams on the Rise

Recent Data Released

The Federal Trade Commission (FTC) has recently released their 2023 data on the number of scams that were reported in 2023. Keep in mind, the data is just what was reported!

  • 1 in 4 people lost money last year due to a scam
  • $10 billion was lost overall – $1 billion more than in 2022
  • Email was the #1 scam method, followed by phone calls and social media.

Seniors Beware!

Seniors are a primary target of scammers. Scammers prey on their vulnerability, and trust causing a loss of more than $3 billion annually (1/3 of the total loss as reported above). Most fraud events go unreported, so the true number is likely much higher.

Many of your loved ones have email, their own cell phone and/or other communication devices. Although it is not possible to prevent scams 100%, we can at least arm ourselves with knowledge and resources. This will help us all to understand and recognize the risks, and make informed decisions to better protect them.

Helpful Steps You Can Do to Lower Risks

From the National Council of Aging

  • Shred billing statements, receipts, and any document that has personal information on it such as address, phone number, social security, email, credit card or bank information.
  • Use direct deposit whenever you can to prevent checks getting stolen from your mail.
  • Be skeptical of unsolicited offers. Ask for the information in writing!

Top Financial Scams

  • Government Impersonation (Medicare, IRS)
  • Sweepstakes & Lottery Scams
  • “Can You Hear Me?” Robocall
  • Computer Tech Support Scam
  • Grandchild Scam

Learn about these and other popular scam tactics here

Stay Informed & Be on Alert

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