Tag: financial losses
COVID and technological advances have created a perfect storm of fraud against older Americans. Between 2019 and 2023, the number of fraud cases reported to the Federal Trade Commission more than doubled to 2.6 million. But the losses from these scams tripled to $10 billion, indicating the scammers are becoming more effective. “Today’s scams ar…
It’s an implausible ruse. Yet we are all human, and many people are taken in by it. In the Social Security imposter scam, someone claiming to be from the agency tells the intended victim that he has been accused of a crime and that his bank account will be frozen. To prevent arrest and preserv…