WISER Special Report: Senior Fraud, Sweetheart or Sweetheart Scam?
Authorities in New York arrested a woman last year for theft of hundreds of thousands of dollars from an 85-year-old man, in what experts refer to as a “sweetheart scam.” In
Financial Fraud and Scams Resources
Senior Financial Fraud and Abuse
Senior financial abuse scams are a multi-billion dollar “industry.” Studies estimate the annual financial loss nationwide to be around $2.9 billion. In a recent New York State study, estimated annual losses
Senior Financial Abuse: Identity Theft and Credit Card Fraud
Identity theft and credit card fraud are common types of senior financial abuse. In 2014, the Federal Trade commission reported that 39% of the identity theft complaints, and nearly half (49%)
Senior Financial Abuse: Healthcare Scams
Since every U.S. citizen or permanent resident is eligible for Medicare at age 65, seniors are a prime target for Medicare fraud. These scams trick seniors into providing their Medicare or
Senior Financial Abuse: Undue Influence
Undue influence is a critical part of any type of senior abuse – financial, physical, or sexual. Some seniors are more likely to be vulnerable to undue influence because they are
Senior Financial Abuse: Reverse Mortgage Scams
The increasing frequency of reverse mortgages has unfortunately meant that mortgage scams are also on the rise. Preying on fears of financial insecurity, scammers convince the senior that a reverse mortgage
Senior Financial Abuse: Power of Attorney Abuse
Granting power of attorney (POA) to someone is a significant step. Having power of attorney over someone means having the right to make legal decisions for that person. Some people can
Senior Financial Abuse: Deed Theft and Foreclosure Rescue Scams
Foreclosure rescue scams and deed theft are tricks con artists use to steal property from unsuspecting seniors. Feeding off the fear of losing their homes, many seniors believe these scammers out
Senior Financial Abuse: Annuity and Living Trust Scams
Annuities and living trusts are well-established legal products that can help provide economic security to seniors. But some unscrupulous con artists target seniors to buy these products at a high cost
Predatory Lending
Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through deceptive,