Frankfort, Illinois – Police Warn of Rising Elder Financial Scams Costing Seniors Billions


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Frankfort, IL – The Frankfort Police Department has issued a warning about the increasing threat of financial scams targeting older adults. This advisory comes as national statistics reveal that one in five Americans over the age of 65 have fallen victim to financial abuse, cumulatively costing seniors an astounding $36.5 billion annually.

According to the police, scammers often target seniors due to their significant share of the nation’s wealth and their perceived vulnerability. The department advises residents to be wary of any organization or business that requests payments via unconventional methods like gift cards or cryptocurrencies, which are common tactics used by fraudsters.

The Frankfort Police encourage community members to verify the legitimacy of any financial transaction by initiating calls to known and trusted numbers before any money exchange. They also recommend consulting a trusted family member or friend when in doubt about a financial interaction. Residents can reach out to the police department to confirm any suspicious activities, ensuring that they have a reliable resource in their efforts to avoid these prevalent scams.

For more information on how to protect yourself and your loved ones from financial scams, visit the National Council on Aging’s website linked by the police department in their recent online outreach.


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