Knowing These Basics Can Help Protect Your Family
Do you know who are now the favorite target of financial scams? Older adults in the U.S. In 2012, people 60 and older made up 26% of all fraud complaints tracked by the Federal Trade Commission (FTC), the highest of any age group. That figure’s up from 10% in 2008, when it was the lowest of any adult age group. Also note that these statistics represent only the reported cases. The FTC estimates that no more than 10% of these scams are reported. Because about 10,000 boomers turn 65 each day, the popularity of these scams will only grow. Here’s how to spot the most recent scams and how to protect yourself and your family.