Spotting Financial Scams Targeting Seniors

Spotting Financial Scams Targeting Seniors

New York State’s Office of Children and Family Services estimates that fraudsters steal more than $36.5 billion from seniors in their 2016 study. Losses can go up to $1.5 billion in New York alone. These financial losses are just the tip of the iceberg, the worst part is the aftermath of such cases. Mark Lachs from the Division of Geriatrics and Palliative Medicine of Weill Cornell Medicine and New York-Presbyterian Hospital found that seniors that have been abused--financial in nature or not--are more prone to earlier mortality that it can be considered a “public health crisis”, thus, making it all the more important to be aware of fraudulent acts against seniors and making sure that your loved ones are just as well-informed as you are. Below are the two most common fraudulent activities targeting seniors. Continue Reading...

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