Financial scams targeting seniors are an increasing concern for Americans and the justice departments designed to protect them. The FBI saw a 14% increase in elder fraud complaints on its Internet Crime Complaint Center (IC3) in 2023, according to its 2023 Elder Fraud Report.
These resulted in adults over 60 years of age losing $3.4 billion dollars throughout the year — almost 11% more than the losses reported in 2022. According to the FBI, many of these crimes go unreported, so the true loss may be even higher.
Given the increase in senior fraud and scams, it's vital to know how to protect yourself from such bad actors. Here are five essential strategies:
Read Newsmax: 6 Ways to Protect Seniors From Financial Scams | Newsmax.com
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