At the same time, seniors are vulnerable. People over the age of 65 comprise 11 percent of the U.S. population but represent roughly 30 percent of scam victims, according to the U.S. Subcommittee on Health and Long Term Care. The disproportionate victimization of older people in connection with consumer fraud is partly attributable to generational and economic factors. Seniors grew up in an era when business was done on a handshake.
Seniors are also more likely to be home when the phone rings.
Millions of brightly colored postcards flood the state telling recipients they have won a prize. You are told to call a 1-800 number, and you place the free call only to be told you must pay in order to receive additional information. You are asked to disclose your credit card number to prove your identity. If you are unfamiliar with the company, check it out with the Better Business Bureau of the Attorney General's Office in the state where the company is located. Never send cash through the mail.