Internet Scam Victimizes the Elderly

An internet scam that is sweeping the nation is defrauding many elderly residents. The scam involves elderly residents winning the lottery in foreign countries, and then being forced to transfer taxes upfront before the fictitious winnings are released. Authorities believe that these people are hustled over the Internet, and since the elderly are new to the Internet they grow confused and gullible. Additionally, banks need to be more attuned to the needs of the elderly. In this specific case, the bank released large sums of money to the elderly man after he informed them he bought property in Spain. Most banks are required to report suspected financial abuse of elders to Adult Protective Services or local law enforcement, yet this bank failed to do so. Financial abuse against the elderly can occur anywhere, including here in Chicago, Illinois. To read more about the financial abuse, please click the link.

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