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Americans lose more than $100 million annually due to fraud related to American social security programs. Analysts from the US Federal Trade Commission (FTS) shared this data.
To this point, the FCS has received nearly 165 thousand reports of fraud since the beginning of the year, with social security remaining the most favorite area for scammers. It accounts for 39 thousand filed complaints, which resulted in the misappropriation of $101.58 million.
“Elder financial abuse is a huge problem,” said investment advisor Drew Powers. “Whatever the stated figure, the real amount is likely much higher.”
At the same time, according to experts, additional risks for older Americans are created by the active use of artificial intelligence by scammers. It often misleads victims with messages that mimic the tone and style of real-life organizations, including the Social Security Administration.
“All divorce schemes are about the same,” says Powers. “A certain artificial situation is created that requires urgent decisions to be made, which causes panic in the victim.”
In addition, at least some of the attacks on the elderly are carried out using advanced social networks such as TikTok. Experts do not exclude that this is not an accident or a tribute to fashion: pensioners, who often find it difficult to understand technologically complex applications, lose their vigilance and remain defenseless against cybercriminals.
• Source: https://www.msn.com/en-us/money/ret...-million-in-social-security-scams/ar-AA1llvtO
To this point, the FCS has received nearly 165 thousand reports of fraud since the beginning of the year, with social security remaining the most favorite area for scammers. It accounts for 39 thousand filed complaints, which resulted in the misappropriation of $101.58 million.
“Elder financial abuse is a huge problem,” said investment advisor Drew Powers. “Whatever the stated figure, the real amount is likely much higher.”
At the same time, according to experts, additional risks for older Americans are created by the active use of artificial intelligence by scammers. It often misleads victims with messages that mimic the tone and style of real-life organizations, including the Social Security Administration.
“All divorce schemes are about the same,” says Powers. “A certain artificial situation is created that requires urgent decisions to be made, which causes panic in the victim.”
In addition, at least some of the attacks on the elderly are carried out using advanced social networks such as TikTok. Experts do not exclude that this is not an accident or a tribute to fashion: pensioners, who often find it difficult to understand technologically complex applications, lose their vigilance and remain defenseless against cybercriminals.
• Source: https://www.msn.com/en-us/money/ret...-million-in-social-security-scams/ar-AA1llvtO
