Elder fraud, also known as senior fraud or elder financial abuse, is indeed a concerning issue that has been growing rapidly in recent years. Elderly individuals are often targeted by scammers and fraudsters due to a variety of factors, including their potential vulnerabilities and the fact that they may have substantial savings or retirement funds. Here are some key reasons why elder fraud is on the rise:
It's essential for everyone to be vigilant and protect elderly family members and friends from falling victim to these scams, as the financial and emotional consequences of elder fraud can be devastating.
Learn more about how ThreatAdvice's TAFraudSentry can help your institution help to prevent elder fraud.