As you may know, The Consumer Financial Protection Bureau is a 21st century agency that implements and enforces Federal consumer financial law.
Their website offers a range of resources and potentially useful information that could be very helpful for seniors. As their website points out, losing money or possessions to scams, fraud, and exploitation can be especially devastating to older adults, who may not be able to earn back what they’ve lost.
Awareness Helps!
Financial exploitation can take many forms, with scams and frauds attempted by people both known and unknown to potential victims. One means of protecting ourselves from this type of exploitation is a heightened awareness of common scams, such as:
- Lottery & sweepstakes scams “You’ve already won! Just send $2,500 to cover taxes”
- Home repair/traveling con men “We’re in your area and can coat your driveway / roof really cheaply”
- Grandparent scam: You’re called and told your grandson is in jail and needs you to send money immediately
- Charity scams: falsely soliciting funds for good causes; very common after disasters
- I’m from the utility company; I need you to come outside with me for a minute (while accomplice steals valuables)