Senior Citizen Fraud Costs Billions of Dollars Each Year!

It’s no secret that senior citizens are common targets for scam artists. According to the Federal Bureau of Investigation (FBI) Elder Fraud Report, seniors across the United States lost more than $3 billion to scams and fraud! The agency found that total losses by elderly victims increased 84% percent from 2021 to 2022. The average loss per victim was $35,101.

One of the most common scams was the Government Impersonation Scam in which the scammer identifies themselves as being from a government agency, such as the Social Security Administration, and threatens to arrest or prosecute the victim unless they agree to provide funds or other payments.

The Seniors Trust is committed to helping protect seniors and Social Security. It wants Congress to enact the Social Security Expansion Act. When passed, this landmark piece of legislation will increase benefits, create a strong and long-lasting Trust Fund, and guarantee every retired worker receives adequate Social Security benefits and a fair Cost-of-Living Adjustment (COLA).