Scams

The Federal Trade Commission (FTC) recently published its latest report to Congress on protecting older adults, which highlights key trends based on fraud reports by older adults, and the FTC’s multi-pronged efforts to combat the problem through law enforcement actions, rulemaking, and outreach and education programs. The FTC found that older adults reported losing more than $1.6 billion to fraud in 2022. Because the vast majority of frauds are not reported, this figure represents only a fraction of the overall cost of fraud to older consumers, which the FTC estimates to be as high as $48 billion. The report also calls on Congress to update the FTC Act in response to the Supreme Court’s 2021 ruling in the AMG Capital Management case...

NCLER has shared some resources for advocates in honor of National Consumer Protection Week. National Consumer Protection Week is a time to education people on their consumer rights and how to avoid fraud. NCLER resources include trainings, brochures, and flyers that share information about preventing and protecting older adults from scams and abuse.

This resource provides a summary of the ten most-reported scams the Senate Aging Committee's toll-free Fraud Hotline (1-855-303-9470) in 2019. Common instances reported include IRS impersonation scams, sweepstakes scams, and computer tech support scams. This report also summarizes common scams by state and provides tips for avoiding scams.

This report outlines the Federal Trade Commission's (FTC) research, law enforcement, and education efforts aimed at protecting older consumers. The report finds that although consumers 60 and older report losing money to scams less often than younger adults, the amount of money they lose is higher. Older adults reported losing money most often to phone scams and online scams. This report also highlights the Pass it On campaign.

Older adults are often targeted by scammers. This new fact sheet from the Better Business Bureau highlights factors that can make individuals resilient to scams. Important protective factors include asking for input from others, knowing about the scam ahead of time, and having higher financial literacy.

This resource provides a summary of the ten most-reported scams the Senate Aging Committee's toll-free Fraud Hotline (1-855-303-9470) in 2018. Common instances reported include IRS impersonation scams, sweepstakes scams, and computer tech support scams. This report also summarizes common scams by state and provides tips for avoiding scams.