According to the National Council on Aging, there were 92,371 older victims of fraud in 2021 resulting in $1.7 billion in losses. Listed as the top financial scams targeting older people are: governmental impersonation, sweepstakes scams, and robocall scams.
Older people aren’t the only group to fall victims of scams. The National Child Safety Council estimates that $40 billion is made each year from telemarketing scams. 57% of those victims are senior adults and 70% of seniors are targeted by telemarketers.
The NCSC lists nine common tricks used by telemarketers and scammers.
• “You must pay to win.”
• “You must decide now.”
• “We need your credit card number.”
• “You must pay now.” (cashier’s check, money order wired, or personally picked up)
• “Do not tell anyone, say you need the money for a family emergency.”
• “The initial investment will be well worth the risk” or “You’ll regret it later if you don’t.”
• “We do not provide written information or references.”
• “You’re stupid if you don’t do this.”
• “The promise or prize is in the mail.”
In December 2022, the Better Business Bureau of North Alabama hosted a Fraud Prevention Summit. Local seniors heard from a panel of experts about how to protect themselves from becoming a victim of…
