Klamath Falls News - Locally owned news brand, reporting stories affecting citizens of the Klamath Basin.
PORTLAND, Ore.—Attorney General William P. Barr and U.S. Attorney Billy J. Williams today announced the largest coordinated sweep of elder fraud cases in history, surpassing last year’s nationwide sweep. The cases during this sweep involved more than 260 defendants from around the globe who victimized more than two million Americans, most of them elderly.
Read MoreWe are looking at a different kind of financial fraud by someone who is close to the victim. This can be a relative, caregiver or other acquaintance who takes advantage of a senior's trusting nature or declining health and cognitive abilities. In fact, the Department of Justice believes about a quarter of all older Americans who are subject of a fraud attempt will actually be victimized.
Read MoreAn estimated 10,000 Americans turn 65 every day ... creating a large pool of potential victims for fraudsters looking to cash in on seniors' savings accounts. In fact, the Department of Justice estimates that older adults lose more than $3 billion each year to financial scams.
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