Fraud is becoming a bigger threat to your retirement security — even if you think you’re too sharp to fall for a scam.
One 2015 report estimated that older Americans lose $36.5 billion each year to financial scams and abuse. The problem is growing, and researchers say older adults experiencing cognitive decline are just a segment of the victims.
Three in 10 state securities regulators say they have seen an uptick over the past year in cases and complaints involving senior financial fraud and exploitation, according to a new survey from the North American Securities Administrators Association. Only 3 percent reported a decline.