The Federal Bureau of Investigation said elder fraud causes around $3 billion in losses each year.
KNOXVILLE, Tenn. — Almost everyone has been contacted about their car’s extended warranty at some point, and most people know not to give a Nigerian prince money if they ask for it. Most people also realize both of these scenarios are scams designed to trick people into handing over cash.
However, federal officials are warning people that scams are getting more complex online, and are targeting a more vulnerable population — elderly people. They also said the number of online scams targeting elderly people is growing because of the pandemic.
As more people stayed at home, more older people started to shop online instead of in person. And it can be harder to spot a scam...