The COVID-19 pandemic gave scammers an opportunity to use new tactics to defraud older adults, including illegal robocalls, texts and emails, and social media posts.
In 2020, the Federal Trade Commission estimated that older adults lost at least $602 million to fraud, scams and financial exploitation schemes, and that seniors lost $100 million to COVID-19-related fraud, according to the 2021 Fraud Book from the Senate Special Committee on Aging.
Committee Chairman Sen. Bob Casey (D-PA) announced the release of the 2021 Fraud Book on Thursday during a hearing on fraud, scams and COVID-19.
“In the early days of the pandemic, many seniors isolated themselves to avoid contracting the virus, but in the process were cut off from family and friends,” Casey said. “Fraudsters saw an opportunity and they pounced.
“Eighteen months into the pandemic, federal agencies, state governments and advocates warn of con artists who will pedal fake…