Wisconsin Senior Medicare Patrol

More seniors are getting hoodwinked by scammers than every before, according to a new story from Bloomberg.

One in five Americans over 65 has been the victim of a scam. And it’s not always young people who try to scam their elderly counterparts; more and more, seniors are participating in the scams, the story adds.

Some seniors are able to arm themselves to avoid scams, but others – like those with dementia – are unable to make good choices when it comes to the pressure from crooks who want to steal away their money.

Scams that typically target seniors:

• Grandparent scam. Someone calls, claiming to be a grandchild in need of cash fast. Sometimes seniors are too embarrassed to admit that they don’t recognize the voice on the phone and send cash.
• Sweepstakes scams. Seniors get mailers or calls, claiming they’ve won big. All they need to do is send some cash to claim their prize – which doesn’t exist.
• Charity scams. Phony charities ask for donations to help with natural disasters, local problems and more.