New data from the Federal Trade Commission (FTC) revealed that consumers lost more than $10 billion to fraud in 2023—the first time losses have risen that high.1 Senior adults are especially vulnerable to online scams. According to the FBI Internet Crime Complaint Center (IC3), roughly $3.4 billion in total fraud losses were reported by … [Read more...]
6 Ways Seniors Can Spot Scammers
Tough Times Lead to Increasing Scams
Studies show that increasing financial pressures are directly tied to an increase in fraud. You know the saying, “desperate times call for desperate measures” so would-be fraudsters are more inclined to take the risk and rationalize their bad behavior during tough times. Many economists predict a recession is coming in 2023 but no one knows when … [Read more...]