Elder fraud is a serious and growing problem, costing billions of dollars and affecting millions of seniors each year. It’s time to take urgent action to protect older adults from this devastating crime by learning more about it and what you can do.
Confronting Elder Financial Exploitation
Elder fraud takes many forms, from investment scams to identity theft to romance scams. Scammers often target seniors because they may be more trusting, less familiar with technology, or simply more vulnerable. The consequences of elder fraud can be devastating, leading to financial ruin, emotional distress, and even physical harm.1
Education, Protection, and Empowerment
The good news is that there are steps that can be taken to protect seniors from elder fraud. Education is key: it’s important for seniors to be aware of the different types of scams that exist and how to spot them. There are also a number of resources available to help seniors protect themselves, such as the National Council on Aging’s Fraud Resource Center.
Advocacy for Justice and Restitution
In addition to education and protection, it’s also important to advocate for stronger laws and enforcement to combat elder fraud. The Elder Abuse Prevention and Prosecution Act of 2022 is a step in the right direction, but more needs to be done. We need to make sure that scammers are held accountable for their crimes and that victims are able to get restitution.2
Learn More Today
If you’re concerned about elder fraud, there are a number of resources available to help you learn more and take action. You can find information on the websites of the National Council on Aging, the Federal Trade Commission, and the Securities and Exchange Commission. You can also contact your local Area Agency on Aging for assistance. Don’t wait until it’s too late. Take action today to protect yourself or your loved ones from elder fraud.