If you’ve been a victim or know a victim, please contact us for support and assistance in reporting the crime.

June is Officially Elder Abuse Awareness Month in the US

Over the past few months, we have seen a lot of scams targeting seniors come to light. It has been incredible to see everyone helping drive media awareness, including the Wall Street Journal, CNN, and NYT. On June 4th, Sen. Dodd, announced a resolution designating June as Elder and Dependent Adult Abuse Awareness Month

Plus, a new movie premieres today featuring a 94-year-old bent on revenge after falling victim to the grandparent scam. Here is the trailer for Thelma.

Awareness and education are the main ways to prevent being a victim, and these efforts help. We need to be diligent every week to help others become aware.

According to the AARP, 96 percent of adults know that being directed to purchase gift cards to handle an urgent financial matter is a scam tactic. Yet, every day there are millions of dollars spent on gift cards in the US by victims.

This week, we cover a victim to bring awareness to pig-butchering romance scams. Sue is a successful, smart woman who fell victim to a romance scammer and lost her home and life savings of $2.5 million.

Scammers worldwide go to work with one thing in mind: steal your money and they will use every psychological trick to do it. For every scam that fails, they create one that works.

It’s a numbers game, but together, we can combat scammers and those who prey upon senior citizens. Please share this email with any loved ones you know who are over 60.

Our latest podcast is up. Jeff and I talk about Elder Abuse Awareness Day.

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Stay safe out there,

Quick Overview

• Retired Executive Loses Home and $2.5 Million Life …

Retired Executive Loses Home and $2.5 Million Life Savings in Romance Scam

“People say, how can you give money to a stranger? He wasn't a stranger at that point."

It all started on Match.com. Sue had retired and was looking to find a lifetime partner. She was matched with Santos who would contact her frequently and send poems daily. As the romance bloomed, his requests for money began.

In 2020, older adults lost nearly $139 million to romance scams, making it the top scam reported to the Federal Trade Commission. Total losses to romance scams in 2020 reached $304 million, a significant increase compared to five years ago. In reality, that number is significantly lower than actual losses because less than 14% of victims ever report these crimes due to shame.

Isolation and loneliness during COVID saw the rise of romance scams across every dating platform - Bumble, Match, etc… During COVID, virtual dating took off as people didn’t leave their homes. Tech-savvy scammers pounced on this opportunity to create virtual personas and prey on people.

The number of older adults using online dating has doubled in the last three years, with 12% of those aged 55-64 using mobile dating apps. Although dating scams can target individuals of all ages, older adults are at higher risk.

According to the FTC 2020-2021 Protecting Older Consumers Report, older adults accounted for approximately one-third of the $31 million lost through bank transfers and payments related to romance scams in 2020. Additionally, older adults fell victim to romance scammers who obtained $12 million in cryptocurrency.

Many of these romance scams originate in West Africa, predominantly Nigeria and Ghana. The scammers strategically target recently widowed or divorced seniors due to their vulnerabilities and access to cash.

If you suspect an online relationship is a scam, stop all contact immediately. If you are the victim of a romance scam, file a complaint with the FBI’s Internet Crime Complaint Center (IC3).