Senior Scams: How to Recognize and Avoid Financial Fraud

Senior scams refer to fraudulent activities specifically targeted at older adults, aiming to exploit their vulnerabilities and steal their money or personal information.

Scammers often target seniors through phone calls, emails, or even door-to-door visits. They may pose as government officials, charity workers, or representatives of trusted organizations to gain their trust.

Some common senior scams include Medicare fraud, sweepstakes scams, grandparent scams, tech support scams, and investment fraud. These scams often involve tricking seniors into providing personal information or sending money.

Seniors can recognize a scam by being cautious of unsolicited calls or emails, requests for personal information or money, and high-pressure tactics. They should always verify the legitimacy of the person or organization contacting them and seek advice from trusted family members or professionals.

Seniors can protect themselves from scams by never giving out personal information over the phone or online unless they initiated the contact. They should also be skeptical of too-good-to-be-true offers, always research and verify before making any financial decisions, and regularly monitor their bank accounts and credit reports for any suspicious activity.