Senior citizens have long been the target of scammers, but according to the American Association of Retired Persons (AARP), the rate of elder financial exploitation has more than doubled since 2020.
Jilenne Gunther authored a report on elderly financial exploitation and the ways in which they were swindled.
“Criminals go where the money is,” Gunther explained. “So, when that becomes a popular method of payment, and it’s so fast, they’re going to lean into that.”
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