Senior Fraud and Scams

Senior citizens are often the victims of fraud, identity theft and scams. As a more vulnerable population, seniors can be more trusting than other consumers, have a larger ‘nest egg’ or other savings, and might also be missing the necessary mental or physical faculties to detect and thwart certain crimes.


Common fraud & scams:

Living Trusts	Home Improvement Scams
Stranger/Investor Originated Life Insurance	Charity Scams
Medicare Scams	Sweepstakes and Contests
Identity Theft

Statistics:

According to the National Fraud Information Center, approximately 34% of victims that report telemarketing fraud are seniors.

In Medicare alone, healthcare fraud costs taxpayers over $60 billion dollars a year.

Consumers between 65 and 74 years old were 32% less likely to report fraud than those between 35 and 44 years old. (2007 Consumer Fraud Survey, Federal Trade Commission, http://www.ftc.gov/opa/2007/10/fraud.shtm)




Getting federal benefits? You must switch from paper checks to electronic payments by March 1, 2013. Going paperless with your federal benefits can help you avoid identity theft! Don’t delay! Get more information from the U.S. Treasury here: www.GoDirect.org.