Fraud Against Seniors

The FBIs 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 for the following reasons:

Senior citizens are most likely to have a nest egg, to own their home,
and/or to have excellent creditall of which make them attractive to
con artists.

People who grew up in the 1930s, 1940s, and 1950s were generally
raised to be polite and trusting. Con artists exploit these traits,
knowing that it is difficult or impossible for these individuals to
say no or just hang up the telephone.

Older Americans are less likely to report a fraud because they dont
know who to report it to, are too ashamed at having been scammed, or
dont know they have been scammed. Elderly victims may not report
crimes, for example, because they are concerned that relatives may
think the victims no longer have the mental capacity to take care of
their own financial affairs.

When an elderly victim does report the crime, they often make poor
witnesses. Con artists know the effects of age on memory, and they are
counting on elderly victims not being able to supply enough detailed
information to investigators. In addition, the victims realization
that they have been swindled may take weeksor more likely, monthsafter
contact with the fraudster. This extended time frame makes it even
more difficult to remember details from the events.

Senior citizens are more interested in and susceptible to products
promising increased cognitive function, virility, physical
conditioning, anti-cancer properties, and so on. In a country where
new cures and vaccinations for old diseases have given every American
hope for a long and fruitful life, it is not so unbelievable that the
con artists products can do what they claim.




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