Top 10 Scams Against the Elderly – Aging Wisely

That means that seniors, with a median household net worth of $170,500, will be more vulnerable to financial exploitation, whether it’s a scam. top item on its congressional agenda. She said it’s.

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Top 10 Scams Targeting Seniors. As posted on www.ncoa.org. Financial scams targeting seniors have become so prevalent that they’re now considered "the crime of the 21st century." Why? Because seniors are thought to have a significant amount of money sitting in their accounts.

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Top Financial Scams Targeting Seniors. The National Council on Aging discovered top financial scams targeting seniors, which are outlined below to help you avoid senior scams and fraud, and educate your family. Awareness can help your family stay vigilant to forewarn your senior loved ones about these cons.

AARP Foundation ElderWatch engages hundreds of volunteers each year to help older consumers recognize, refuse and report fraud and scams.This website provides additional information and tools to help protect consumers against financial exploitation.

Fraud Against Seniors The FBI’s Common Fraud Schemes webpage provides tips on how you can protect yourself and your family from fraud. Senior citizens especially should be aware of fraud schemes.

According to the National Council on Aging (NCOA), here are the top 10 financial scams that are wreaking havoc in the lives of seniors. Top 10 financial scams targeting seniors. 1. Medicare/health insurance fraud. PROBLEM: Scammers have targeted seniors for numerous ripoffs surrounding the Affordable Care Act and Medicare enrollment.

The National Council on Aging notes: "Because many seniors find themselves planning for retirement and managing their savings once they finish working, a number of investment schemes have been targeted at seniors looking to safeguard their cash for their later years.". Top 10 Senior Scams.

So in response and to raise awareness, we have identified the top 10 scams that plague senior citizens in retirement, along with examples for each. top 10 scams targeting seniors Scam #1: Ponzi/Pyramid Schemes. In Birmingham, Alabama, a gentleman offered free tax work to a church whose members were largely 60 years and older.