In August, AARP testified before the U.S. Senate Special Committee on Aging to spotlight a growing threat to Americans: fraud carried out by translational organized crime groups. Operating openly abroad, these networks are draining billions of dollars from victims, local communities and economies every year. Older adults are navigating a minefield of increasingly sophisticated scams that threaten not only their lifetime savings but even their homes, independence, and health. Money that was saved for retirement is instead supporting illicit activity around the world.
Nearly all of us use social media to stay connected with friends and family. Unfortunately, scammers use social media to connect with us, too. Before accepting a friend request on your social media platforms, keep these tips in mind to protect yourself from scams.
Sixty years ago, President Lyndon Johnson signed Medicare into law, giving all Americans over age 65 access to health coverage. Here in Delaware, about 242,000 residents are enrolled in Medicare. That includes traditional Medicare from the federal government, and from insurance companies that offer Medicare Advantage.
“I’m not going to let them win,” Joyce, from Utah, said through tears as she shared what happened to her last year. She never imagined she would fall victim to a scam, but in just a few months, she lost her entire savings of over $1 million to criminals who knew exactly how to exploit her trust and vulnerability.
Fraud today is largely run by sophisticated, large-scale operations led by transnational crime groups, stealing an estimated $158 billion from Americans in a single year. This is not just a consumer education issue — it’s a national security threat that demands urgent attention.