About 1 in 6 Americans are age 65 or older, and that percentage is projected to grow. Older adults often hold positions of power, have retirement savings accumulated over the course of their lifetimes, and make important financial and health-related decisions – all of which makes them attractive targets for financial exploitation. In 2021, there...Read More
In recognition of Seniors’ Safety Week, the North Bay Police Service (NBPS) is reminding older adults, their families and caregivers to recognize common scams and take steps to prevent fraud. “Fraud targeting older adults is a significant concern. We continue to see higher rates of fraud victimization in older adults, but the real extent is...Read More
The Social Security system is designed to provide basic financial benefits for workers after retirement. According to the Social Security Administration (SSA), nearly 69 million Americans will receive a Social Security payment in 2025, totaling roughly $1.6 trillion throughout the year.1 While these monthly payments are a lifeline for many older Americans, recipients are prime...Read More
Seniors vs. Crime is a special project of the Florida attorney general. The project began in 1989 as a crime prevention program utilizing senior volunteers in educating their peers and promoting fellow seniors to become involved in their own protection. The project has now grown into a statewide organization that provides direct services to senior...Read More
SINGAPORE – A grandfather who lost over half a million dollars to scammers was still unconvinced that he had been tricked, which affected his relationship with family members.Frustrated, his grandson turned to Senior Minister of State for Home Affairs Goh Pei Ming for help at a Meet-the-People Session at Marine Parade.Even when Goh asked the...Read More
That said, “absolutely,” one of the first signs of cognitive decline is a change in financial behavior, notes Sarah Lock, AARP’s senior vice president for policy and brain health. “You may notice that the person who’s been meticulous in their financial affairs suddenly becomes less so.” An analysis of more than 81,000 Medicare beneficiaries’ health...Read More
DES MOINES, Iowa — The Iowa Senior Medicare Patrol (SMP) has warned the public that advancements in AI and technology have made scammers increasingly dangerous, worsening the impact of Medicare fraud on older adults. Medicare open enrollment began Oct. 15 and continues through Dec. 7, and scammers are actively targeting Medicare beneficiaries with fake plan...Read More
Among the millions of Americans who lost money to scammers in 2024, older adults lost the most, according to newly released numbers from the Federal Trade Commission (FTC). And the losses are astronomical: a record $12.5 billion was reported stolen through scams and fraud last year, up 25 percent from $10 billion in 2023. The overall...Read More
Vea esta página en español The Money Smart for Older Adults Program raises awareness among older adults and their caregivers on how to prevent fraud, scams, and other elder financial exploitation. The curriculum encourages advanced planning and informed financial decision-making. Money Smart for Older Adults was developed jointly by the Federal Deposit Insurance Corporation (FDIC)...Read More
A new bipartisan bill making its way through Congress aims to protect seniors and other vulnerable people from scams by allowing some financial institutions the ability to pause transaction requests while they investigate potential fraud. The Financial Exploitation Prevention Act would give open-end investment companies, including mutual funds, the ability to pause redemption requests from...Read More
