Elderly people are increasingly becoming victims of sophisticated scams, with little protection in place. The problem is widespread and devastating, as illustrated by several recent cases.
A $109,000 Loss
A 91-year-old Georgia man, Loris Sinanian, recently lost over $109,000 to a scammer posing as an old friend. The scammer, after gaining remote access to Sinanian’s computer, tricked him into believing a large accidental transfer had occurred. Over ten days, Sinanian was manipulated into withdrawing the money, packaging it, and shipping it to an unknown location in New York. Sinanian expressed regret over his actions, stating he felt foolish for falling for the scam.
The Scale of the Problem
According to the Georgia Council on Aging, hundreds of similar cases occur across the country, with thousands reported statewide each year. The FBI’s 2023 Elder Fraud Report revealed that seniors lost a staggering $3.4 billion to scams – a figure likely far below the actual amount.
More Examples of Elder Fraud
The problem isn’t isolated to one type of scam. Other recent cases include:
- An 85-year-old woman who had her life savings stolen by fraudsters impersonating JPMorgan and the US government. Even worse, her bank refused to reimburse her.
- A widowed social worker, Annette Manes, lost $1.4 million over 279 days to a similar scheme.
- Françoise Schorosch was targeted by the “Hi dad” scam, where fraudsters impersonated her grandchild. They accessed her emails, learning about her home purchase, and then contacted her father directly, ultimately conning him out of €7,000.
These examples highlight the creativity and persistence of scammers, who exploit the trust and vulnerability of elderly individuals. The sheer scale of financial losses and the lack of adequate protection underscore the urgent need for increased awareness and stronger preventative measures.
