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What are the most common scams today? My parent has fallen victim to some over the years and could use some help on how to avoid fraudulent schemes.
While many scams today are universal, some types of fraud specifically target older adults or affect them disproportionately. Unfortunately, these targeted scams are on the rise.
According to the Federal Bureau of Investigation (FBI), in 2021 there were over 92,000 victims of fraud over 60, resulting in approximately $1.7 billion in losses. This was a 74% increase in losses compared to 2020.
Below are some of the most common scams that were reported last year.
Government imposters: These scams often start with a call, email or text message from someone claiming to be from the Social Security Administration, the IRS, Medicare or a fake agency. Scammers will falsely claim that money is owed, or that Social Security or Medicare benefits are in danger of being cut off. They will threaten to fine, arrest or deport the individual if immediate payment is not made or if personal information is not provided. Many times, scammers “spoof” their caller ID to give the appearance that the call is coming from a government phone number. Government agencies, however, never call, email or text to ask for money or personal information.
Sweepstakes and lottery scams: Scammers may contact their intended victims by phone, mail or email saying a sweepstakes or other prize has been won. Then…
