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If you watch the evening news, you know seniors are often the target of fraud and financial scams. They lose their life savings by putting their trust in the wrong person.
There are a variety of reasons seniors are targeted for financial scams. In general, this generation was raised to be polite. It’s why many older adults have a hard time closing the door on a door-to-door salesperson or hanging up on a telemarketer. Seniors, especially those living alone, may be lonely and more willing to spend time talking with a stranger.
AARP estimates are that one in five seniors has fallen victim to fraud. Many are too embarrassed to let loved ones know what has happened to them.
What can you do to prevent the seniors in your life from being victimized?
It starts with making them aware of the most common risks.
The Scams that Target Older Adults
The most common types of financial scams to make your aging loved one aware of are:
Our final tip is to help spread the word about scams against seniors. Report them to your local authorities and to AARP’s ElderWatch.
As you care for your aging loved ones, learn how to spot unusual behaviors ranging from poor nutrition to depression.
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