Seniors are often the target of scams because they are more likely to own a home and have excellent credit. They are also not as likely as young people to take action when scammed.
In general, seniors were raised to be trusting and polite. They are more likely to be target of scams because it is often difficult for them to hang up on telemarketers. Senior citizens are also less likely to know their rights when defrauded and report scammers. Seniors often choose not to report scammers because they are ashamed for having been defrauded or are concerned that acquaintances think that they are no longer capable of managing their financial affairs.
Scammers are also more likely to try to target seniors because elderly victims usually make poor witnesses. Scammers are aware that seniors’ memories are not as sharp as young people’s. Therefore, seniors are less likely to remember and report sufficient details to investigators.
Seniors are often more susceptible to products that promise to reduce signs of aging. Since many legit products actually help seniors fight the signs of aging, seniors are more likely to believe the claims scammers make about their products.
In addition, scammers are more likely to try to target senior citizens because they are more easily reachable. Seniors are more likely to be home and pick up on telemarketers. Scammers also try to target seniors because they are more likely to be lonely, mentally disabled and vulnerable.