Financial Scams that Every Senior Should Know About

financial scams
financial scams


As the president of Bergen Financial Group, Darcy Bergen is committed to advising clients on topics related to retirement planning. Along with choices in areas like income and wealth transfer strategies, Darcy Bergen wants his clients to be aware of financial scams that specifically target the older population.

Senior citizens make ideal targets for con men, and the frequency at which seniors are scammed has continued to rise in recent years. One way scammers frequently gain access to the finances of older adults is through mail or telemarketing fraud. This includes tactics like lottery scams and obtaining credit card information by feigning the sale of a product the senior wants to buy.

The elderly may also be deceived by the sale of fake prescription drugs. Thieves advertise discounted prices on medicines commonly used by seniors and obtain credit card information. The thieves then never send the medicine or send cheap drugs that are not what the individual ordered, making this scam extremely dangerous.