Seniors More Susceptible to Scams

Some estimate that up to five million seniors are scammed each year in the United States. Financial scams against the elderly are no doubt a big problem and are on the rise.

Why Are Seniors Prone to Scams?

Experts say that seniors are susceptible because they’re usually home when scammers pounce – either in person or over the telephone. The elderly may also be vulnerable because they’re isolated or lonely, are more likely to assume someone is being honest, or may be unfamiliar with their rights.

What Can Seniors Do to Protect Themselves?

-If something sounds too good to be true, it probably is. Many times scammers claim that a victim is eligible for a huge prize but must act quickly and provide important personal information before he “loses it.” Think twice.

-Pay no attention to telemarketers. Many scams are perpetrated over the phone and it may be difficult for seniors to understand fully what they’re getting into. Try placing your number on the “Do Not Call” Registry.

-Never disclose important financial and personal information to a telemarketer or any stranger.

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