Financial involving money, property, goods or identity theft; or it might involve a senior being urged by friends or
family to sign a financial document that is not be in their best interest.
Sometimes it’s hard to determine where the scam begins and poor financial decision making ends,
especially when it comes to seniors. Each year 25 million Americans, one in every ten, are victims of
scams. Literally billions of dollars are lost, and seniors are almost always the biggest target. Some of the
more typical scams that target the elderly include the following:
**Confidence Games generally occur when the scammer offers a story to the victim as a fraudulent
attempt to get their cash by pretending to be someone in authority who is trustworthy.
**Telemarketing is the use of high-pressure tactics to solicit money for fraudulent investments or
charitable causes by calling people at home. These scams include Credit Card Offers, Scholarship or
Educational Grants, Magazine Sales, Buyers Clubs, Police or Armed Services Donations and Travel
**Mail scammers offer large valued prizes for only a small purchase. They send official looking letters
with guarantees of authenticity and use extensive personalization by repeating the victim’s name.
**Face-To-Face Contact scams involve the sale of products or services, such as auto repair warranties.
The offender gains entry to the victim’s home in order to make the sale and walks away with a check and
a signed contract.
**Internet scammers use a wide variety of deceiving tactics, such as Online Auctions, Lottery Clubs,
Software Purchases, Prescription Discounts, Credit Card Loss Protection, Identity Theft and Credit Repair
The fact remains that there many people trying to get your money. In most cases, those with all their
address possible crimes.
Obviously, financial scams have the potential to cause widespread harm to those affected. Money is
always tight, and the last thing anyone needs is to have funds taken unscrupulously. But these losses
often affect seniors particularly hard. That is because many seniors are on a fixed income and forced to
watch their money closely to ensure they have access to all that they need throughout their retirement.