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New Canaan Police Chief on Fraud Prevention for Seniors
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According to the “2018 DOJ Report on Senior Abuse and Financial Exploitation,” each year, an estimated three billion dollars is stolen from America’s seniors through various scams. Seniors often fall prey to imposters who claim to represent the IRS, Medicare or Medicaid, Social Security, or other legitimate businesses. Unfortunately, New Canaan is not immune to these scams. Over the years, some New Canaan seniors have suffered substantial financial losses.
Thus far in 2021, our Department investigated 27 fraud complaints, and some of these scams targeted seniors. This month, a resident contacted our Department to report being the victim of a Grandparent Scam. Sadly, this victim was defrauded out of thousands of dollars. What is Senior Fraud?
Senior fraud, also known as senior financial exploitation, is the misappropriation or theft of financial resources.