Top 3 Scams that Target the Elderly

As a financial advisor I work with retirees and elderly. I have seen an increase in scamming activity primarily targeting this senior generation. I thought I would share the research I have done and bring awareness to the top 3 scams we need to be on watch for.

Sweepstakes Scams
Criminals contact victims and tell them they’ve won the lottery and need to pay a fee to collect their winnings. Please don’t fall for it, they would be sending you a check if you won.

Robocalls and Unsolicited Phone Calls
Americans are inundated with robo-calls, and technology allows scammers to make it seem that their call originates in the consumer’s state or local area code. I get these calls too, so be aware!

IRS Impersonation
Scammers claim an individual owes back taxes and penalties and threatens arrest or home foreclosure unless the person pays immediately. Yikes, I have seen some scared clients calling me about this. It’s a scam for sure. The IRS will not call you!
Be on watch for these and others.

Do you have a financial question you want answered? Submit it to financial.freedom@lpl.com or call us at 541-574-6464.
The content in this column is for general information only and not intended to provide specific tax or legal advice for any individual. 

Source: Senate Committee on Aging