According to the “2018 DOJ Report on Senior Abuse and Financial Exploitation,” each year, an estimated three billion dollars is stolen from America’s seniors through various scams. Seniors often fall prey to imposters who claim to represent the IRS, Medicare or Medicaid, Social Security, or other legitimate businesses. Unfortunately, New Canaan is not immune to these scams. Over the years, some New Canaan seniors have suffered substantial financial losses.
Thus far in 2021, our Department investigated 27 fraud complaints, and some of these scams targeted seniors. This month, a resident contacted our Department to report being the victim of a Grandparent Scam. Sadly, this victim was defrauded out of thousands of dollars.
What is Senior Fraud?
Senior fraud, also known as senior financial exploitation, is the misappropriation or theft of financial resources. Most senior scams in New Canaan involve a stranger. The fraudster will often make contact with their victim online or over the phone. One common way that seniors are targeted over the Internet is through e-mail. General Phishing techniques, which are the fraudulent practice of sending e-mails purporting to be from reputable companies, are used against many e-mail addresses with messages aimed at seniors. Other schemes are more targeted and may involve e-mails or phone calls that are very personal and specific. Targeted attacks often use information gathered in…