Watch Out For These Scams Targeting Retirees

November 19, 2021

This is an important reminder that criminals consistently target retirees with sophisticated scams that may have costly consequences. In 2020, the Better Business Bureau saw a 25% increase in scams reported by consumers because the pandemic is giving scammers new ways to prey on their victims. Some of the most common schemes include overpayment for goods or services followed by a request to return part of the funds, dating app messages seeking companionship but also financial assistance, fraudulent websites not delivering what they promise, and criminals targeting your Social Security number or Medicare number for fraudulent purchases. While it absolutely makes sense to safeguard your private information including Social Security Number and Medicare Number, it is most important to talk about the situation with a trusted family member or friend before taking any sort of action that doesn’t seem right.

At Brandywine Oak, we proactively coach our clients to be vigilant of any attempted scams and to come to us as a resource to help protect them. To learn more about these scams, please read Kiplinger’s