Top 10 Senior Scams – WATCH OUT

senior man clutching piggy bank

FTC Data

These figures are from the Federal Trade Commission, they should know. They were published in late 2020.

The leader by far was Romance. You would think that some of these seniors should watch TV shows and I hereby assign you all to watch the original “Dirty Rotten Scoundrels” with Steve Martin and Michael Caine. The figures are all the big M for Millions.

  1. Romance                                          $84
  2. Gov’t Imposter                                   61
  3. Prizes, Lotteries                                 51
  4. Business Imposters                           34
  5. Investments                                       25
  6. Tech Support                                     24
  7. Timeshare Sales                               17
  8. Family/Friend Imposters                   17
  9. Online Shopping                               14
  10. Timeshare Resales                           13

One of the most expensive scams around Real Estate is the theft of deposits or final escrow payments. So many ways to lose your money. So you be careful out there.  There are a lot of flags for potential problems so read up.  If you will not be attempting to get any real estate loans soon, talk to your friendly MLO or RE Agent and freeze your accounts.

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