By Patricia Ellams, HUD Certified Housing Counselor Foreclosure Specialist at The Waterfront Project
As the holiday season approaches, fraud activity rises sharply. Scammers prey on the spirit
of giving, using fake charities, online shopping schemes, and phishing tactics to steal
money and personal information. Fraud in the U.S. has reached crisis levels, and vulnerable populations—particularly older adults—are being targeted at alarming rates. As trusted counselors, we play a critical role in helping clients recognize and avoid financial scams before it’s too late.
Why Older Adults
- It’s where the money is
- Isolated/lonely
- Cognitive decline or physical impairment sometimes plays a role
Financial Impact of Fraud Victimization
- Debt and/or bankruptcy
- Difficulty obtaining loans, mortgages, etc.
- Home foreclosure
- Taxation on funds withdrawn from retirement accounts
How To Protect Yourself
To protect yourself, be cautious of unrealistic deals, verify requests for gift cards or wire
transfers, secure your personal information and be wary of unsolicited communications.
Stick to trusted online retailers and sign up for delivery alerts when possible. This season should feel joyful, not stressful.
Give yourself extra peace of mind this holiday season so you can focus on what really matters.
Contact us today for further assistance and counseling you can trust.