New 24/7 Scam Hotline for Consumers

Scams are so prevalent that New York City has launched a 24/7 scam hotline to help consumers prevent being scammed. You may wonder why we talk about scams on the Estate and Probate Legal Group Blog so much. There are 2 main reasons:

1. We want to protect our clients and followers from scammers!
2. The elderly are often victims of financial scams and fraud, and this is sometimes a first signal to their families that their loved one is becoming vulnerable and may need additional protection, such as adult guardianship.

FTC Top Scam Statistics

We’re heading into the holiday season, typically the highest time of the year for scams. According to the Federal Trade Commission as reported by Good Morning America, the top 3 types of scams so far in 2022 are:

1. Impostor Scam: someone pretending to be a loved one or know the business you know
   1. Number of Reports: 361,735
   2. Median Loss: $1,000
   3. Total Loss: $1.3 Billion
2. The trouble with online shopping: a fake merchant takes your money but does not deliver your goods
   1. Number of Reports: 148,764
   2. Median Loss: $186
   3. Total Loss: $184 Million
3. Investment Scams: often seen on social media
   1. Number of Reports: 52,453
   2. Median Loss: $4,000
   3. Total Loss: $1.6 Billion

Looking at these numbers, it’s not surprising that there is a new 24/7 scam hotline for consumers.

What To Do To Prevent Being Scammed

1. Don’t respond to texts or calls from unknown callers.
2. Only go to websites for businesses you know.
3. Report suspected cases of fraud to reportfraud.ftc.gov

Learn More:

• Don’t Answer That Text: Text Scams Aimed at Seniors
• FAQs About Elder Financial Abuse
• New Retirement Scam Targeting Older Adults
• Why New Robocall Laws Won’t Stop Scammers
• What to Do When a Parent Needs a Guardianship

Talk to adult guardianship and elder law attorney If you have a vulnerable family member who you think is susceptible to financial text scams.

DuPage and Cook County Guardianship Attorney

Are you worried someone you care about may have been scammed and needs safeguards? Call us to schedule a consultation with the experienced elder law attorney at Estate and Probate Legal Group. Call us at 630-864-5835.

AREAS WE SERVE: Cook, DuPage, Kane, Lake and Will counties.