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Robocall Scams Get More Sophisticated and Costly

Yahoo Finance

It took two phone calls to rob an 81-year-old woman of her $80,000 life savings.

The first came from a man claiming to be from the Social Security Administration. The woman thought the call was legitimate because her ID screen displayed the agency’s phone number. Plus the man knew her name and had her Social Security information.

The man said there was a problem with her account, and unless she immediately wired him the money to fix it, her benefits would be cut off. She agreed to send him the funds.

Soon after, she got a call from an accomplice claiming to be an FBI officer. He told the woman that the first caller was an imposter and had cheated her. He then convinced her that he needed money to go after the con man. She agreed to wire him funds as well. Now, in the twilight of her life, she has lost everything.

This is just one of thousands of so-called imposter scams reported each year that target people in the U.S., particularly older ones.

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