Today’s seniors are overwhelmingly trusting and polite and because they’re a generation of hard workers, many have accrued good credit and savings.  While these are all impressive attributes, unfortunately they put this demographic at great risk. The FBI reports that millions of older Americans fall victim to some type of financial swindle, known as a ‘scam’.  It’s a shameful and pervasive characteristic of our society. The National Council on Aging estimates that one in 10 Americans ages 60+ experience some type of financial abuse each year. As much as $3 billion is lost each year to financial scams.

While new schemes are always evolving, currently, the most common scams targeting seniors include:

Technology has an active role in scams. This includes:

Recommendations to avoid being a victim of a scam, include the following:

There are thankfully, a growing number of resources for seniors who are anxious about the possibility of becoming victims of scams.

Lexington Square Senior Living Communities in Lombard and Elmhurst take the financial security and peace of mind of area seniors seriously.  The senior living communities will be hosting Prevent Scams Against Seniors as part of their Lex and Learn series, designed to help area residents remain informed about important topics. Experts from our local police departments will present the valuable information. The events will be held on October 27th.  Admission is free but RSVPs are required. For additional information or to register, call Lexington Square Lombard at 630-620-0099 and Elmhurst at 630-832-5959.

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