Elder Fraud:
If a Former FBI/CIA Director Can Be Targeted, Anyone Can.

In 2021, more than 92,000 victims over the age of 60 reported combined losses of $1.7 billion to the FBI’s Internet Crime Complaint Center. This represents a 74 percent increase in losses from those reported in 2020.

If elder fraud has affected a loved one, reach out and schedule a free care consultation call for advice on how to handle care moving forward.

According to the FBI, each year, millions of elderly Americans fall victim to some type of financial fraud or confidence scheme, including romance, lottery, and sweepstakes scams, to name a few. Criminals will gain their targets’ trust and may communicate with them directly via computer, phone, and the mail, or indirectly through the TV and radio. Once successful, scammers are likely to keep a scheme going because of the prospect of significant financial gain.

Seniors are often targeted because they tend to be trusting and polite. They also usually have financial savings, own a home, and have good credit—all of which make them attractive to scammers.

Additionally, seniors may be less inclined to report fraud because they don’t know how, or they may be too ashamed of having been scammed. They might also be concerned that their relatives will lose confidence in their abilities to manage their own financial affairs. And when an elderly victim does report a crime, they may be unable to supply detailed information to investigators.


To get ahead of the problem, connect on WayWiser today.


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WayWiser is building a proprietary financial management platform specifically for caregivers. It allows approved users to monitor their loved one’s bank and credit accounts, track spending patterns, and keep a watchful eye on key financial metrics with the ultimate goal of keeping them financially sound and protected from scams, fraud, and exploitation as they age.

Additionally, WayWiser’s financial management platform allows you to track spending, manage receipts, and reimburse family members and paid-caregivers for any out of pocket expenses.

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