Senior citizens are at a high risk of being targeted for financial abuse because they tend to have more accumulated savings. Elder financial abuse typically involves some type of money scam, forgery, identity theft, or coercion to give someone access to their funds or information.
Unfortunately, scammers consider older adults to be an easy target because they may be perceived as more trusting and less technologically savvy. Sadly, financial exploitation of older adults may also be perpetrated by relatives or people that they rely on for assistance, such as a caregiver or other aide.
In the latest FDIC Consumer News, there are tips that will help you to protect yourself and the seniors in your life. Get your free copy at FDIC.gov.