One in five seniors are victims of elder abuse (which includes frauds and scams), according to CanAge, the National Seniors’ Advocacy Organization. And the types of scams are always changing. Last year, we saw the rise of scams related the the pandemic and COVID-19.
Although many of us don’t think we or our parents will ever fall victim to a fraud, the truth is many smart people do get fooled by the slick scams. And making matters worse is that we are often too embarrassed or fearful of revealing we have been scammed (so the statistics are quite likely higher than one in five).
This new video from Forbes outlines how the scams are often conducted, what channels and methods are frequently used, and why older adults may be reluctant to report being scammed. They share some tips in the video on to how to spot a scam; here in Canada, be sure to check out this free fraud prevention program and learn about services on how you can help report phishing emails and fake websites.