Financial Scams and Fraud Prevention
Police dismantle grandparent scam: key arrests in senior targeting fraud
A network of fraudsters targeting the elderly across Canada with a “grandparent scam” has been broken up after a major police operation. This scam tricked seniors into thinking their loved ones were in urgent need of help, leading them to lose over $1.2 million in just three months. Several police agencies worked together to arrest […]
RECENT POSTS
Dental health for older adults: maintaining oral hygiene to prevent chronic diseases
Kitchen safety for seniors: practical tips to reduce risks and enhance comfort
Pet adoption brings new opportunities for senior citizens in Shenandoah Valley
Meals on Wheels: Supporting Sandusky County seniors with nutrition and care
How seniors can get involved in volunteering during Community Champions Week
Understanding inheritance and estate taxes in Idaho: A guide to effective estate planning
Ensuring safety for seniors against scams and financial fraud
Elder fraud is a growing concern, with millions of older Americans falling victim to scams each year. In 2020 alone, the FBI’s Internet Crime Complaint Center (IC3) reported that seniors lost over $966 million to fraud schemes. These scams not only rob older adults of their financial security but also have profound emotional and psychological […]
The growing financial impact of scams on American consumers
Scams have become a significant financial threat to American consumers, with recent studies indicating that nearly 80 million individuals in the United States have suffered financial losses due to fraudulent schemes. According to research by PYMNTS Intelligence, the average loss per scam victim is $545, with many facing substantial financial devastation, including cases of losses […]
Older Americans losing billions to fraud: FTC report and new protection measures
A recent report from the Federal Trade Commission (FTC) reveals that older Americans lost over $1.9 billion to fraud in 2023, a staggering amount that highlights the financial vulnerability of this demographic. However, experts believe the actual figure is much higher, with estimates suggesting total losses could reach as much as $61.5 billion due to […]
02 / 02
