As financial scams increase with each passing year, the senior population is a constant target of con artists and fraudsters.
In the U.S. in 2021, the Federal Bureau of Investigation (FBI) reported 92,371 senior victims of fraud scams totaling $1.7 billion in losses.
Typically targeting older adults, many scam artists tend to believe seniors have less knowledge about technology, have more money in the bank, and are more likely to be isolated and lonely.
Some of the most common scams include:
- Computer Tech Support Scams where pop-up messages tell victims their device is damaged and request fees to repair it.
- Lottery and Sweepstakes Scams trick the victim into thinking he or she won a prize and must pay a fee to claim it.
- Romance Scams are where scammers create fake profiles on dating sites and social media, often pretending to live overseas. Victims are scammed into paying for medical emergencies or travel expenses for their so-called partners to come to the U.S.
According to the Federal Trade Commission (FTC), seniors lost over $300 million to romance scams in 2020.
- Grandparent Scams in which victims are tricked into thinking they’re speaking with their grandkids via phone or e-mail. Scammers often ask for money to pay for needs like overdue bills, groceries, or car repairs.
- Medicare and Health Insurance Scams where scammers pretend to work for Medicare and convince seniors to give them private medical information.
Unfortunately, the list of known scams goes on.
To help local seniors protect themselves from insurance scams, the Johnson County Senior Center will host a session with Education and Outreach specialist Jennifer Ramcharan and Consumer Insurance Services Director Vickie Trice of the Tennessee Department of Commerce & Insurance on Tuesday, November 15th at 10:30 a.m.
During this session, Ramcharan and Trice will talk about the importance of insurance, how the Department can help insurance companies, and how to prevent fraud and scams. The session is free and open to the public.
For more resources about fraud scams targeting seniors, visit the National Council on Aging’s website at ncoa.org.
To learn more about the Johnson County Senior Center and its upcoming events, visit its Facebook page or website www.johnsoncountyseniorcenter.com, stop by the Center M-F, 9 a.m.-4 p.m., or call 727-8883.
