Stay Diligent of Financial Security for Seniors

People of all ages can be targeted by scams, but older Americans are often more vulnerable and tend to lose larger amounts of money.

In 2022, more than 88,000 adults over 60 were victims of financial fraud, with average losses exceeding $35,000. Those aged 80 and older face the highest median losses of any group. Overall, seniors lost billions that year.

Common scams include:

• Tech Support
• Impersonation
• Online Shopping
• Romance Schemes
• Cryptocurrency Schemes

Scammers frequently contact victims through email, phone calls, and social media. As older adults use digital platforms more, opportunities for fraud grow. Staying cautious, verifying requests, and avoiding urgent payment demands are key steps to preventing financial loss and protecting vulnerable populations from exploitation. And remember...DON’T CLICK THE LINK.

For more information on elder financial fraud and how to prevent becoming a victim, visit the Consumer Affairs website.