Senior Fraud Has Skyrocketed Since 2013

We are living longer and longer, and that’s especially true of those with higher incomes. It turns out there’s a big downside to that:

As we get older, the likelihood of dementia increases, and that makes us perfect prey for financial scammers. The Wall Street Journal reports today that financial scams against the elderly have more than doubled just since 2013:

The increase occurred as new federal and state laws are prompting banks to take a more active role in trying to address frauds and scams that target older customers. For their part, banks are beefing up training programs for employees on how to detect, stop and report issues without violating a customer’s privacy. Employees are even learning to recognize early signs of cognitive decline.

….Last February, a customer in her late 70s walked into a New Canaan, Conn. branch of People’s United Bank, asking to wire $30,000 to her grandson. The customer said he had been in a car accident while vacationing in Mexico. Suspecting what is known as a “grandchild scam,” Rebecca Reed, an assistant manager, instead suggested the customer call her grandson. It turned out he had been at school all day—not in Mexico.

“We can see it when something is not right,” said Ms. Reed, who has received a Fraud Fighter award from the bank.

Keep your eyes open for this. Your aunts, uncles, grandparents, and parents will thank you.

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Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

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Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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