FT Cyber
Victims of senior and dependent adult fraud may experience a loss of independence and a decline in their overall quality of life.
— Timothy Benson
BERLIN, GERMANY, September 7, 2022 /EINPresswire.com/ — Senior and dependent adult fraud is a type of financial exploitation where someone takes advantage of a senior citizen or vulnerable adult for personal gain.
This can happen in many ways, including through scams, identity theft, and fraudulent investments.
In many cases, FTCyber.com witnessed that scammers often target senior citizens because they may have retirement savings or other assets that can be stolen. They may also be more trusting, or they have a lack of technical expertise than younger people. FTCyber.com found that this group is targeted for ‘technical assistance in making transactions from banks to exchanges, leaving the life savings of the older generation in jeopardy. Several FTCyber.com clients include senior adult clients seeking justice and return of their life’s work and inheritors who have found their nest egg for future home purchases or other life-changing investments stolen by cryptocurrency frauds.
Another type of senior adult fraud is the infamous grandparent scam, in…
