Older adults’ willingness to give away money is associated with decreased cognitive function, according to a study published in the Journal of Alzheimer’s Disease. These results suggest that an increase in this behavior, known as financial altruism, could be linked to the early stages of Alzheimer’s disease. The stud, funded by the National Institute on… Continue reading The Risk of Generosity
Tag: scams
Consumer Fraud Scams Are on The Rise
Newly released Federal Trade Commission (FTC) data shows that consumers reported losing more than $5.8 billion to fraud in 2021, an increase of more than 70 percent over the previous year. According to a news release from the FTC, the agency received fraud reports from more than 2.8 million consumers last year (2021), with the… Continue reading Consumer Fraud Scams Are on The Rise
For Halloween, Tips That May Help Prevent Tricky Fraudsters
Scammers cheat seniors out of approximately $2.9 billion annually, according to the Senate Special Committee on Aging. Now, that’s a SPOOKY statistic! No one is safe from being a potential target of a scammer—but the elderly are particularly vulnerable. Beware of Trick or Treat callers – Don’t pick up calls from unknown numbers. The IRS… Continue reading For Halloween, Tips That May Help Prevent Tricky Fraudsters
How Seniors Can Protect Their Health and Finances During the Pandemic
Throughout the coronavirus pandemic, health officials have been clear and consistent in their message to seniors: While anyone can fall victim to COVID-19, those who are 65 and older are in an especially high-risk group. That’s why older Americans need to be especially careful and – in the case of the very elderly – family… Continue reading How Seniors Can Protect Their Health and Finances During the Pandemic
No Pandemic Shutdown for Scammers
COVID-19 may have shut down portions of the economy and put restrictions on Americans’ daily lives, but cyber scams and other efforts to defraud people continue to thrive. Scammers are tapping into the uncertainty related to the global pandemic. They are using social engineering to target people with tactics that take advantage of today’s technology.… Continue reading No Pandemic Shutdown for Scammers
Scams and COVID-19
To the stresses of the COVID-19 epidemic – fear of contracting the illness, working remotely, trying to balance parenthood and job – you can now add the possibility of being duped by unscrupulous sellers looking to make money from the crisis. According to the Federal Trade Commission (FTC), the cost of pandemic-related consumer fraud is… Continue reading Scams and COVID-19
Tax Time and Cyber Crime
Tax time, which will arrive in a couple of weeks, is cybercriminals’ favorite time of the year. Online scams, fake emails and fraudulent phone calls top the list of the ways crooks hope to separate you from your money. In 2018, the Internal Revenue Service (IRS) noted an astonishing 60 percent increase in bogus email… Continue reading Tax Time and Cyber Crime
Do You Have a Disaster Plan?
As the devastating flood Florence shows, extreme weather costs dozens of lives and billions of dollars in damage. What would you do if you were in the midst of a disaster? Are you ready to leave your home at a moment’s notice? Would you have all that you need? You can reduce your anxiety about… Continue reading Do You Have a Disaster Plan?
Money Problems and Alzheimer’s
People with Alzheimer’s disease often have problems managing their money. In fact, money problems may be one of the first noticeable signs of the disease. Here, the experts from the National Institute on Aging tell you how to recognize, and handle, this problem. Early on, a person with Alzheimer’s may be able to perform basic… Continue reading Money Problems and Alzheimer’s
Elder Financial Abuse: Signs and Prevention
Today, there are over 40 million people 65 or older in the U.S. Unfortunately, this demographic, especially those with dementia and cognitive impairment, is left especially vulnerable to financial abuse. Almost three billion dollars is wrongfully taken from older adults annually, a number that continues to grow as Americans are now living longer. Such… Continue reading Elder Financial Abuse: Signs and Prevention
Watch Out for Medicare Scams
Now is the time for the annual enrollment period (Oct. 15 – Dec. 7) for Medicare Advantage plans (Part C) and the Medicare Prescription Drug (Part D) Program. Unfortunately, this is also a time for scammers to prey on people who may be uncertain about how the program works. In a news release, the California… Continue reading Watch Out for Medicare Scams
Don’t Fall Victim to Identity Theft
Someone in the United States just became the victim of identity theft, according to a recent report, which determined that 12.7 million consumers experienced identity fraud in 2014. With technology becoming increasing advanced, hackers are becoming increasingly devious, which means it’s more common than ever before to learn that your identity was stolen. “Having your… Continue reading Don’t Fall Victim to Identity Theft
Get Smart About Elder Financial Abuse
Billions of dollars in life savings are lost each year due to the financial exploitation of older adults. Perpetrators include scammers, professional caregivers, unethical businesses and family members. No federal agency tracks elder exploitation cases on an ongoing basis, but in a survey compiled by the Investor Protection Trust, 20 percent of Americans age 65… Continue reading Get Smart About Elder Financial Abuse
There Is a Con Game Being Played on America’s Elderly
Elder mistreatment ranging from physical abuse and neglect to financial fraud is a silent epidemic in the US. In The Con Game: A Failure of Trust , expose it and show you how to protect yourself and your loved ones. The numbers are staggering. Experts estimate that between 1 and 2 million Americans age 65 and older have… Continue reading There Is a Con Game Being Played on America’s Elderly