Top 10 Scams Against the Elderly – Aging Wisely

Seniors who live alone are at an especially high risk for financial scams because they tend to be extremely trusting and do not have anyone with them to warn them against a possible scam. Some frauds specifically target older adults because they are under the impression that they have large amount of money saved up.

Here are 10 common tactics fraudsters use to separate seniors from their money, which are fully discussed in our article, “Top 10 Senior Scams and How to Avoid Them.” Be aware of what your aging.

The scammers were convincing enough to steal $42 million from their victims over a recent 15-month period, according to a report to the Senate Special Committee on Aging, which is looking into scams.

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As part of the hearing, the committee released its 2019 report on the top 10 scams targeting seniors in 2018. The most prevalent scam, out of more than 1,500 complaints to the panel’s hotline, involved Internal revenue service (irs) impersonators who conned people into coughing up tens of millions of dollars.

So in response and to raise awareness, we have identified the top 10 scams that plague senior citizens in retirement, along with examples for each. Top 10 scams targeting seniors Scam #1: Ponzi/Pyramid Schemes. In Birmingham, Alabama, a gentleman offered free tax work to a church whose members were largely 60 years and older.

The consumer advocacy group graded 10 of the region’s largest banks on their accessibility and the types of products they tailor to seniors. It only included the top 10 banks. banking industry.

So in response and to raise awareness, we have identified the top 10 scams that plague senior citizens in retirement, along with examples for each. Top 10 scams targeting seniors Scam #1: Ponzi/Pyramid Schemes. In Birmingham, Alabama, a gentleman offered free tax work to a church whose members were largely 60 years and older.

According to the National Council on Aging (NCOA), here are the top 10 financial scams that are wreaking havoc in the lives of seniors. Top 10 financial scams targeting seniors 1.

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The National Council on Aging states that one in 10 Americans who are 60 or older experiences some form of abuse. That’s as many as five million seniors each year. That’s a national embarrassment that.

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