According to the National Poll on Healthy Aging from the University of Michigan, 75% of older adults aged 50-80 experienced scam attempts, and 30% experienced fraud in the past two years. Older adults in worse health are more likely to be targeted and experience fraud than those in better health.

Overall, 83% of older adults want more information on protecting themselves from romance and financial scams. Nearly all believe policymakers and companies should improve protection against scams.

Romance scams and investment scams are separate types of fraud but can overlap. Here’s a breakdown of their fundamental differences:

Typical Red Flags:

• The relationship progresses unusually fast.
• Requests for money or financial help come soon after establishing contact.
• The scammer is reluctant to meet in person or provides excuses to avoid direct communication.
• They often use poor grammar or inconsistent information in their communications.

Typical Red Flags:

• Promises of high returns with little or no risk.
• Pressure to invest quickly or secrecy about the investment details.
• Lack of verifiable information about the investment or the company.
• Difficulty accessing or withdrawing invested funds once deposited.

Key Differences:

• Emotional vs. Financial Manipulation: Romance scams focus on emotional manipulation to obtain money.while investment scams focus on financial deception to obtain money.
• Nature of Interaction: Romance scams often involve personal relationships and emotional appeals. In contrast, investment scams focus on financial transactions and often use more business-like interactions.
• End Goals: Romance scams aim to exploit emotional connections for direct financial gain. Investment scams aim to defraud people by convincing them to invest in non-existent or fraudulent schemes.

Understanding these differences can help recognize and avoid both types of scams, enabling better interventions and advocacy.

Ensure Security

1. Implement Security Measures: Help them set up strong, unique passwords for their online accounts. Encourage using two-factor authentication wherever possible. Installing and regularly updating antivirus software can also help protect their devices from malicious attacks.
2. Control Online Presence: Help them limit the amount of personal information that is publicly accessible. However, be cautious about sharing details that scammers could exploit, such as personal interests or financial status.
3. Report Suspicious Activity: Ensure they know how to report suspected scams to relevant authorities. Reporting can prevent others from falling victim to the same scams and help law enforcement track down scammers.

Assuredly, when combining these strategies, you can help create a safer online environment for older adult individuals.

2. Internet Crime Complaint Center (IC3)

• • Website: IC3
  • Details: The IC3 is an FBI and National White Collar Crime Center partnership. They handle online crime complaints and can provide assistance and guidance on the next steps.

3. Social Media Platforms

• • Details: Most social media platforms (e.g., Facebook, Instagram, Twitter) have reporting mechanisms for fraudulent accounts and scams. You can usually find these options in the profile or message settings. Reporting through these platforms can help remove the scammer’s account and prevent further incidents.

Additional Resources for Older Adults

4. Better Business Bureau (BBB)

• • Website: BBB Scam Tracker
  • Details: The BBB primarily deals with business-related complaints. However, the BBB Scam Tracker allows individuals to report and view details about various scams, including online romance scams.

5. AARP Fraud Watch Network

• • Website: AARP Fraud Watch Network
  • Details: AARP provides resources and support for fraud victims. It also offers tips on recognizing and avoiding scams and allows you to report scams through its network.

6. Local Law Enforcement

• Details: If you’ve been a victim of a romance scam, it can be helpful to report it to your local police. They may not always be able to take immediate action. However, your report can be beneficial for local crime records and for potentially collaborating with federal agencies.

Key Aspects of World Romance Scam Prevention Day:

1. Awareness Campaigns: The day often features campaigns designed to educate the public about romance scams’ characteristics and warning signs. These campaigns may include social media posts, informational brochures, webinars, and community events.
2. Educational Resources: Organizations and agencies involved in consumer protection and fraud prevention may distribute materials that explain how romance scams work, how scammers operate, and what individuals can do to protect themselves. Some specifically target older adults.
3. Collaboration with Agencies: Various government bodies, non-profit organizations, and consumer protection agencies collaborate to share information and resources. This might involve coordinated efforts to provide support and guidance to those targeted by scammers.
4. Public Engagement: The day often encourages people to share their experiences and report suspicious activities. And participation in discussions about how to stay safe online is highlighted. It serves as an opportunity to foster a more informed and vigilant public.
5. Promotion of Reporting Mechanisms: Emphasis is placed on reporting scams to relevant authorities and agencies. The Federal Trade Commission (FTC), Internet Crime Complaint Center (IC3), and local law enforcement are examples.