Older Americans Lose $61.5 Billion to Scams in 2023, Safety Forum Highlights Threat

Senior citizens across the United States face increasing risks from scams and dishonest contractors, with protections weakened in some areas due to changes in state laws that have eliminated permit requirements for certain maintenance and minor home repairs, limiting municipalities' ability to intervene. The Federal Trade Commission reports that older Americans lost up to $61.5 billion to fraud in 2023, highlighting the severity of the issue. Various forums and coalitions, such as the Safety Forum in Silver Spring and the Texas Elder Justice Coalition summit, are actively working to raise awareness and coordinate efforts among law enforcement, regulators, and social services to combat these scams. Common scams include impersonation using AI-generated voices, financial fraud through social media, and deceptive practices by contractors and caregivers. Experts recommend strategies such as creating secret family code words, being cautious about social media posts, and attending educational events to better protect seniors. These efforts underscore a nationwide push to address the growing problem of senior fraud and exploitation.