For years, the top scam seniors needed to be aware of was the IRS impersonation ploy. But in 2019, the IRS scam fell to number 7 and a different scam took over the top spot – scammers impersonating Social Security employees.
This data comes from the Senate Special Committee on Aging’s 2020 “Fraud Book” — an annual report on the top scams facing seniors. The report also provides tips and resources for older Americans and their families to avoid falling prey to scammers.
According to Senator Susan Collins (R-ME), chairman of the Senate Aging Committee, Americans lost $38 millions to scammers misrepresenting the Social Security Administration in 2019 alone. “I suspect that’s just the tip of the iceberg, because many seniors who have been affected by this scam are either too embarrassed to report their loss or don’t even know who to turn to,” said Collins.