Scammers targeting seniors for financial fraud
They are the most vulnerable among us. Now, according to authorities, seniors increasingly are the targets of abuse and financial fraud. The Federal Trade Commission says nationwide it had received 62,000 senior fraud complaints in 2018, a total of $818 million in losses. That number jumped to 390,000 complaints about social security imposter fraud alone, triggering $153 million in losses. Incidents of elder fraud are skyrocketing,” declares Associate Deputy Attorney General Antoinette Bacon. “These scammer folks are ruthless. They scare seniors. They harass them. They frighten them. They do anything they can to pressure them into paying money.” But those tracking crimes against seniors are learning a hard truth; that in seven of 10 elder abuse or fraud cases, a family member is taking advantage of an older relative, and the victims in those cases are often reluctant to press charges against someone they know and love. The losses are staggering: $3 billion a year, according to authorities, outright stolen or defrauded from seniors nationwide.
Source/ more: KSTP Channel 5