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10 Common Ways Seniors Get Scammed

November 10, 2019

From the Money Talks News website

It’s a sad fact that scammers often target the people with the most to lose, and the least chance to catch on or fix things.

Seniors may have strong credit and a large nest egg for scam artists to go after. They also may be more trusting or less likely to report scams if they fear friends and family will think they can’t manage their own affairs anymore.

“People who grew up in the 1930s, 1940s and 1950s were generally raised to be polite and trusting,” says the FBI. “Con artists exploit these traits, knowing that it is difficult or impossible for these individuals to say ‘no’ or just hang up the telephone.”

Criminals defraud or steal an estimated $3 billion from seniors every year, according to the U.S. Department of Justice.

Here are some major, ongoing scams to watch out for:

From → Consumer

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