Beware of Elder Scams: Top Schemes and Prevention Tips

ARTICLE | July 15, 2024

Authored by Vasquez + Company

Elder scams are becoming increasingly prevalent, with Americans losing an estimated $28.3 billion annually. These scams often exploit the elderly's trust and lack of tech-savvy, involving schemes like fake lottery winnings, robocalls, government impersonators, tech support fraud, grandchild emergencies, and online dating cons. Notably, 72% of the financial exploitation comes from individuals known to the victims, such as friends or family members. This article outlines common scams targeting seniors and offers practical tips for prevention and response, urging vigilance and reporting to authorities for those affected.

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