Financial scams targeting seniors are on the rise, costing older Americans billions every year. While anyone can fall victim to fraud, research shows that seniors with low financial literacy are at significantly higher risk — up to 2.5 times more likely to be scammed. This increased vulnerability stems from gaps in understanding complex financial products, recognizing red flags, and keeping up with evolving digital threats. As scammers become more sophisticated, the need for awareness and education has never been greater. Understanding how low financial knowledge can make seniors 2.5x more scam-prone is the first step toward protection.
