Answer: Some common financial scams targeting seniors include Medicare fraud, grandparent scams, sweepstakes scams, investment fraud, and identity theft.

Answer: You can spot potential financial scams targeting seniors by being cautious of unsolicited calls or emails, requests for personal information or money, offers that seem too good to be true, and high-pressure sales tactics.

Answer: Red flags in financial scams targeting seniors include requests for payment through gift cards or wire transfers, threats or intimidation, promises of guaranteed returns or high profits, and requests for personal information over the phone or email.

Answer: To protect yourself or your elderly loved ones from financial scams, it is important to educate them about common scams, encourage them to never give out personal information or send money to unknown individuals, monitor their financial accounts regularly, and consider setting up a power of attorney or trusted contact person for financial matters.

Answer: If you suspect a financial scam targeting a senior, it is important to report it to the appropriate authorities such as local law enforcement, the Federal Trade Commission (FTC), and the Adult Protective Services in your area.