Internet dating for the elderly
"This is a ripe time for scams because people are at home." Some organizations are taking steps to curb financial fraud.AARP, for example, has its Fraud Watch Network, which provides a monthly alert about currently prevalent scams.
Women are more likely than men to become fraud victims, partly because they live longer and partly because older women today may not have the financial knowledge to easily spot a scammer.For starters, read the news about fraud in your area, and talk with friends and family.The more visibility this fraud gets, the easier it will be to spot.It is also working with the American Bar Association to develop a continuing legal education program on financial fraud and the elderly.You can also take steps to protect yourself against financial fraud."I'm having a lot of trouble keeping my own family members safe." The grandparent scam is also prevalent these days.
In this kind of scam, a fraudster calls and says "it's your favorite grandchild" or something of the kind.
Janey Peterson, an associate professor of clinical epidemiology at Weill Cornell Medical College and lead author of the New York financial fraud study, said her mother has been a target of financial scammers multiple times in the past year.
"This whole phone scam thing, to me, has hit this fever pitch," she said.
Others are stuck at home during the winter months and are more likely to answer calls from financial fraudsters. Indeed, those over 65 are 34 percent more likely to have lost money on a financial scam than people in their 40s, according to research by the Stanford Center on Longevity and the Financial Industry Regulatory Authority's Investor Education Foundation.
And almost 1 in 20 elderly respondents in a large 2014 study of New York residents reported being financially exploited at some point in their later lifetime.
It also offers an interactive map, so users can click on a state and find out which frauds are trending there.