Each year, millions of senior Americans fall victim to some type of financial fraud or confidence scheme, including romance, lottery, and sweepstakes scams, to name a few. Criminals will gain their targets’ trust and may communicate with them directly via computer, phone, and the mail; or indirectly through the TV and radio. Once successful, scammers are likely to keep a scheme going because of the prospect of significant financial gain.

According to the FBI, seniors are often targeted because they tend to be trusting and polite. They also usually have financial savings, own a home, and have good credit—all of which make them attractive to scammers.

Additionally, seniors may be less inclined to report fraud because they don’t know how, or they may be too ashamed at having been scammed. They might also be concerned that their relatives will lose confidence in their abilities to manage their own financial affairs. And when an elderly victim does report a crime, they may be unable to supply detailed information to investigators.

With the elderly population growing and seniors racking up more than $3 billion in losses annually, elder fraud is likely to be a growing problem. Below are some of the most common types of fraud:

There are several methods criminals will use:

Here are 7 Steps To Make You A Difficult Target

1. Use a password manager

2. Strengthen your login credentials and enable 2-factor authentication

3. Activate a lock or password function on your cell phone

4. Protet your email account by changing passwords or enabling 2 factor authentication

5. Use anti-virus on your Computer, tablet etc

6. Secure access to social media acounts by changing your password regularly and enabling 2 factor authentication

7. Consider Freezing your credit Credit Freeze FAQ's

Below are two agencies that can help you prevent and report any suspicious financial scam:

California Adult protective services: https://www.cdss.ca.gov/adult-protective-services

Butte County Adult Services: https://www.buttecounty.net/dess/Services/Adult-Services

If you’d like to read more: Fidelity- 10 ways to stop financial elder fraud