According to a survey done by the Investor Protection Trust back in 2010, one out of every five seniors has been taken advantage of financially – many times by scam artists.
The number of scams that target senior citizens seems to increase every year. Older people are particularly vulnerable to these sorts of scams. They tend to have access to cash. They are also more trusting, often somewhat gullible, and more likely to live alone. Many elders are lonely and want to talk to anyone who calls or contacts them.