If you think your bank will protect you from fraud, that belief could cost you everything. Today’s most dangerous scams don’t “hack” your account. They convince you to willingly hand over access or move your money yourself. That’s a critical difference, because once you authorize a transaction, banks often can’t reverse it. In fact, scammers are increasingly targeting retirement accounts specifically, knowing those funds represent decades of savings. Reports show billions lost each year, with older adults disproportionately affected and often losing the largest amounts. Here is a deep look at two scams impacting seniors and how they could wipe out your entire retirement fund.
