However many reasons we have for loving our grandparents, scammers have a whole lot more. That’s why fraudsters and hackers are increasingly relentless in targeting a demographic that is often trusting of financial institutions, perhaps too embarrassed to report a loss and at a disadvantage where digital technology is concerned. Seniors offer an easy jackpot for scammers, to the tune of $3 billion in losses annually. They are often homeowners, sitting on top of savings, and in good credit.
Spokeo warns to watch out for these 10 senior citizen scams that target their hard-earned savings.
1. Romance Scams
Flattery has no expiration date, and many a lonely or bereaved senior has found themselves on the receiving end of sudden romantic attention from a curious source. Fraudsters troll social media in search of single seniorsand love-bomb them at first with sweet nothings. Soon, however, these give way to something in the form of requests for money, airplane tickets, …