Scams Targeting Senior Citizens

Senior citizens are prime targets for financial scams due to their vulnerabilities, such as trustfulness, accumulated savings, and limited tech-savviness.

- PV SUBRAMANYAM

Scammers exploit these traits through various schemes, causing financial and emotional harm. Below is an overview of common scams targeting seniors:

Imposter scams: Scammers pose as authority figures (e.g., government officials, bank representatives, or police) or loved ones (e.g., grandchildren in distress). Fraudsters pretend to be relatives needing urgent funds for emergencies like bail or medical bills, often begging secrecy to avoid family scrutiny. Scammers impersonate officials from departments like income tax or telecom, demanding payments for alleged penalties.