ORLANDO, Fla. – Fraud targeting older Americans continues to rise, with losses exceeding $3.4 billion last year, according to the FBI.
That represents a 14 percent increase from the prior year, signaling growing challenges in protecting seniors from scammers.
Sandy Markwood, CEO of U.S. Aging, noted the holidays are a particularly vulnerable time.
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“Unfortunately, scams against older adults are increasing significantly,” she said.
U.S. Aging’s latest campaign, “Protect Your Wallet,” offers a guide to help seniors avoid financial scams.
The top concern this season? Charity scams.
“These scams often involve someone calling, emailing, or texting, pretending to be from a legitimate or fictitious organization, asking for donations,” Markwood explained.
According to FBI data, people over 60 filed more than 100,000 fraud complaints last year.
Losses averaged nearly $34,000 per person, but almost 6,000 victims losing over $100,000.
Grandparent scams remain a significant threat
One of the most insidious schemes targeting seniors is the grandparent scam.
The Federal Trade Commission (FTC) recently highlighted how these scams play on fear and urgency.
The scam typically starts with a phone call. “Granddad, it’s me. I’m in trouble,” is a common opener, designed to create panic.
Victims are pressured into sending money immediately, believing a loved one is in distress.
The Department of Justice recently arrested 16 individuals accused of running a transnational grandparent scam operation.
These arrests underscore the scale of the problem, which often leaves victims unable to recover their money.
How to stay vigilant
Markwood emphasizes vigilance and verification.
If you receive a suspicious call, hang up and verify the situation independently.
The FTC advises against making quick decisions under pressure.
Remember, don’t fall for the scheme. Don’t get ripped off. But if you do email me at LBolden@WKMG.com
The holiday season brings joy and togetherness, but it’s also prime time for scams.
Staying informed and cautious can make all the difference.
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