Did you know that seniors and the elderly are a now a top target for cyber criminals and fraudsters and are losing billions of dollars every year to scams. Often their entire life savings.
That was before The arrival of AI. Scammers using AI have triggered a surge of scams against the elderly that is already increase the number of victims and the size of the losses. Some experts have suggested that these scams have become so sophisticated, many victims will be helpless to spot and stop them.
And it’s not only emptying their life savings but also doing so much harm to their lives. When the elderly fall victim to a scam, and especially a big or costly one, they don’t bounce back so easily.
They feel guilty and ashamed, less trusting, and often retreat back and away from others. Including loved ones. The impact on the mental and physical health can be devastating, and often life shortening.
The numbers are staggering. According to the Federal Trade Commission:
- Financial fraud cost seniors more than $80 billion in 2024.
- Between 2020 and 2024 scams against seniors increased sevenfold.
- Adults over the age of 60’s are more likely than any other age group to report losses of $100,000 or more.
We believe that the best way to protect this vulnerable population is to simply get there first. Get to them with the simple tips and advice that will work for them at exactly the moment they need it. Right before they fall for the scam.
And one of our best assets might be the army of real estate agents across the country who live and work in almost every community.
- meet our experts
