Tag: Scams

By Toby Nelson | SmartAsset Millions of older Americans are targeted by financial scams each year. One analysis published by the U.S. Department of the Treasury found $27 billion in suspected elder financial exploitation in just a 12-month period. As digital banking, payments and communication become more common, scammers have more ways to reach victims and impersonate trusted institutions. Phishing scams, including business imposter and government imposter fraud, are among the most common methods used to target older Americans.  SmartAsset analyzed fraud reports filed with the Federal Trade Commission by state and age group to determine which areas show the highest rate of reported scams involving residents age 60 and older. The analysis also identified the mo...