Popular Scams Targeting Seniors

Popular Scams Targeting Seniors

We all get emails telling us we’ve inherited a large sum of money from a long lost relative or from a certain Nigerian government official who will pay a large sum of money to help a royal family member transfer millions of dollars out of the country. All we need to do is provide them with a bank account number and Social Security number and we are good to go. Or perhaps all we need to do is wire transfer a few thousand dollars to claim the inheritance. Sounds ridiculous, right? But the emails keep on coming. Why do they keep coming? They keep coming because people keep responding and parting with their precious retirement funds. Every day, thousands of seniors are being targeted by scams and every day, hundreds willingly participate. Will it ever stop? Probably not. As long as people are willing to part with their retirement funds, the scammers will keep on coming. Just remember, if it sounds too good to be true, it probably is. Our best advice to you…when in doubt, rule it out. Here are some popular financial scams you need to be aware of as reported by the National Council on Aging and others.

Go here to see what scams are popular now.

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