Six-Figure Scams Targeting Seniors Are on the Rise

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Six-Figure Scams Targeting Seniors Are on the Rise

Aug 25, 2012

Six-Figure Scams Targeting Seniors Are on the Rise

Older Americans are under more financial pressure than ever. Unfortunately, scam artists are taking advantage of the sometimes desperate needs of seniors to boost their income, and victims have lost huge portions of their life savings as a result.

A recent survey from the CFP Board of Standards found that senior citizens who were victims of financial abuse lost an average of $140,500 – and more than half of scam victims lost $50,000 or more. Read more >

Daily Finance
Dan Caplinger
August 25, 2012

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