It is estimated that older Americans lose a staggering $2.9 billion a year to an ever-growing array of financial exploitation schemes and scams. They are being targeted by criminals who want to rob them of their hard-earned retirement savings. They are being exploited by strangers over the telephone, through the mail, and online. Worse yet, far too many seniors may also be targeted by family members or by other people in whom they trust.
From January 1, 2019, through December 31, 2019, the Senate Aging Committee's Fraud Hotline received a total of 1,341 complaints from residents all across the country. Calls pertaining to the top ten scams featured in this report account for more than 70 percent of the complaints.
Check out our latest infographic for the top ten scams reported in 2019.