Fraud and the Elderly

Older people tend to be more susceptible to several things, including disease, temperature fluctuations, injuries—and fraud. Perhaps it is because elderly people are not as familiar with telemarketing or not as suspicious of scams, but either way, elegant liars have targeted this sensitive population with a number of frauds.

Some frauds can be specifically tailored to meet the concerns of the elderly, making it more likely for them to fall for such crimes. Common age-specific deceptions can include:

• Improving memory
• Increasing sexual vitality
• Medicare aid
• Curing terminal illness
• Lengthening life span

When a con artist tries to get the attention of an older person, he or she will typically use the mail, phone calls, or even face-to-face interactions. Also, scammers can use the internet to catch the attention of hopeful elderly.

The Federal Bureau of Investigation reports that the aging generation tends to be targeted because they usually have a nest egg saved up, as well as good credit and no outstanding loans. Also, elders were raised to be more trusting, and more ashamed of falling victim to fraud.

If an older person wants to report fraud, they may not know who they should talk to, and it can be difficult for him or her to remember what exactly took place. This makes it much easier for a scammer to take advantage of an older person.

Contact Us

Elderly people should not be ashamed of falling victim to scams. However, if you are looking for more money but are hesitant of con schemes, you should consider life settlements. Selling your life insurance policy is trustworthy and can get you the money you need. For more information on this process, contact Life Settlements and You today at 619-489-5556.