Scams Targeting the Elderly

A Cooperative Credit Union Association survey has found that as millions of Americans retire over the next decade, financial crimes and abuse against the elderly are occurring at an ever-increasing alarming rate.

And as all Americans encounter scams with increasing regularity, studies show that few financial consumers are taking steps to improve their financial literacy in the digital age.

More than half of caretakers for older adults have reported an elder being targeted with fraud; more than a quarter of elders have fallen prey to at least one financial scam. And the problem is likely to get worse before it gets better.