What is Elder Fraud?
Elder fraud is a term to describe a fraudulent activity that targets the elderly. It includes a variety of different schemes, including romance scams, lottery scams, tech-support scams, family scams, government impersonation scams, etc. Many malicious actors and scammers target elders specifically, usually because they are more trusting, often have less knowledge about computers and other electronics, are more likely to have savings, and have good credit. According to the FBI, millions of elderly Americans fall victim to some kind of fraud, with hundreds of millions of dollars in losses reported every year.