Senior Resources




10 Financial Scams that Target the Elderly

Financial scams can target people at any age, but seniors are often favorite targets of scammers because most are homeowners, have substantial savings, are more trusting and may not know enough about the latest technology and laws to protect themselves. These scams cost older Americans millions, if not billions, every year — and despite crackdowns, they aren't likely to stop anytime soon. So how can you protect your loved ones or yourself? Through education and proactivity, of course! If you're unsure if any company is legit or committing fraud, contact the Better Business Bureau or the FTC and look for these common schemes — it just might save your financial future.

  1. Low-risk, high return investment scams
  2. Charitable gift annuity scams
  3. Fake high-return CD scams
  4. Prize and sweepstakes frauds. 
  5. Home, auto repair or medical equipment scams
  6. "I need your help" scams
  7. Reverse mortgage scams
  8. Credit repair scams
  9. Loss recovery scams. 
  10. Help you pay your bills scams

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Senior Resources20 documents

  • 10 Financial Scams that Target the Elderly
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