Scams Targeted at Elderly Can Cost Everything

Elderly people are often the target of money scams, and the Wall Street Journal has recently published a sad but instructive tale on the severe damage these scammers can cause.  Popular scams, including weight loss schemes, supposed lottery winnings, and fake checks, are on the rise.

The article shows that the losses associated with these scams are huge.  Not only does the victim loose significant amounts of money, but they may also loose their independence if a guardian has to be appointed.

See Karen Blumenthal, A Family’s Fight to Save an Elder From Scammers, Wall St. J., June 17, 2009.