Elder Scams You Should Know About

Elder Fraud takes many shapes and sizes as criminal elements seek to take advantage of this vulnerable and growing population. The FBI has prioritized its efforts to address elder fraud and will continue to do so along with our partners. Since senior citizens are a particularly vulnerable victim group, they are often specific targets of financial fraud crimes because of their life situation and financial position. Seniors are often more polite and trusting, have difficulty saying “no,” may be lonely or spend a great deal of time alone, have diminished physical or mental capacity, less likely to report the crime out of shame, and are financially stable. Criminals often focus their efforts on the senior demographic to exploit these characteristics, at times using intimidation tactics or threatening violence, and wreaking havoc on their elderly victims’ financial, psychological, and physical well-being. The fraudsters buy and trade lead lists on the Internet with seniors’ names, phone numbers and other personal information to contact potential victims. Victims of these schemes often lose thousands of dollars or more apiece, which can cause significant harm to elderly victims’ survival. An important step in avoiding being victimized is educating the population to be more aware of […]