Millions of older Americans are targeted by financial scams each year, with $27 billion in suspected elder financial exploitation in a 12-month period. As digital banking, payments, and communication become more common, scammers have more ways to reach victims and impersonate trusted institutions.

Common Scam Types

Phishing scams, including business imposter and government imposter fraud, are among the most common methods used to target older Americans. SmartAsset analyzed fraud reports filed with the Federal Trade Commission by state and age group to determine which areas show the highest rate of reported scams involving residents aged 60 and older.

Original reporting: KRDO (Colorado Springs metro) — read the source article.