Online dating security id scams elderly

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Seniors at Higher Risk of Fraud In most ways, this trend is very positive for society.

The Internet allows the elderly, particularly those who are homebound, to maintain connections with their friends and family, to keep up with the news, and to purchase products and services that they may not otherwise be able to access.

In fact, the Gerontological Society of America recently conducted a longitudinal study that “found a positive contribution of Internet use to mental well-being of retired older adults in the United States, where Internet use reduced the probability of a depression state by one third.” However, in the same way that the elderly are at a higher risk of offline fraud, they can also easily fall victim to online scams.

Tragically, a study by San Francisco-based True Link Financial revealed “seniors are losing $36.48 billion every year to senior fraud, exploitation and financial abuse—more than 12 times the most widely reported previous estimate.” Additionally, the report determined 36.9 percent of seniors lose money to scams, exploitation, and abuse in any given five-year period. “Two trends are going to define the future of fraud: the advancing age of the average American and the increasing use of the Internet among seniors,” says Jeff Bell, CEO of Legal Shield.

“We are committed to partnering with families to protect one of our nation’s most precious resources: our elders.” How Scams Work To avoid a scam, it is helpful to understand how one is put together.