In an effort to protect older Americans from financial exploitation and the proliferation of evolving scams, U.S. Senator Jack Reed today teamed up with AARP Rhode Island and the Rhode Island State Police’s Financial Crimes Unit for an Elder Fraud Prevention Summit at the East Providence Senior Center. The presentation and Q&A session focused on a range of fraud and scams that criminals are using to target older adults and included tips for detection, prevention, and advice on how to report and recover if you or a loved one is victimized.
According to the Federal Bureau of Investigation (FBI), elder fraud complaints rose by 14 percent in 2023, and losses grew by 11 percent. The report found that elder fraud resulted in losses of over $3.4 billion in 2023, including $7.4 million lost by Rhode Islanders over age sixty due to scams.
Senator Reed says public education and outreach is needed to lower that number, which is likely underreported because many victims are too embarrassed to notify the authorities or don’t know where to turn. He credited AARP, the Rhode Island State Police, and local TV stations and the news media for helping to raise awareness and enable older Americans protect themselves, recognize telltale signs of scams, reduce victimization, and combat the financial exploitation.
For more information, visit Senator Reed’s scam prevention page: https://www.reed.senate.gov/seniorscams
