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Abstract: 

In December 2014, the Senate Select Committee on Aging issued a report warning senior citizens about targeted financial scams, a concern that grows as Baby Boomers age. The variety of scams against the aging population has multiplied as technology has advanced and, perhaps more importantly, the “tech savvy” of older consumers has remained stagnant. This article examines several common forms of financial elder-fraud—including lottery and charity scams, home repair and investment schemes—and reports on the results of the Senate report, which catalogs a number of important lessons learned about who is likely to fall victim to financial fraud, who is likely to perpetrate such frauds, and important steps and precautions that seniors, families, and APS professionals can take to detect, prevent, and confront fraud.

Keywords: Internet crime; Federal Trade Commission fraud enforcement; IRS Identity Protection Unit; AARP Fraud Watch

Affiliations:  1: John Jay College and Fordham Law School.