National Senior Fraud Awareness Day is observed on May 15 every year. Its objective is to raise awareness of fraudulent schemes older adults often fall prey to, as they lose approximately $36.5 billion annually due to financial fraud. Due to this alarming statistic, the U.S. Congress declared the establishment of National Senior Fraud Awareness Day to promote awareness about and improvement of methods to ensure the safety of elderly U.S. residents. National Senior Fraud Awareness Day was established in 2018 and has remained an annual occurrence.

Today, senior American citizens are often most vulnerable to financial fraud, and many elderly individuals fall prey to a few common types of scams. Sometimes, they are defrauded by scammers pretending to be government agents who convince them to disclose personal details like their Social Security numbers. Other times, scammers send these older adults text messages claiming a problem with their account, be it their credit card, bank account, or something else, and have them voluntarily fill in their login details.

More than 2,000 people in Georgia were victims of elder fraud in 2022, which ranked 14th in the nation. However, Georgia citizens lost nearly $79 million, the ninth-highest state total. The Georgia Consumer Protection Guide for Older Adults is designed to help older adults avoid fraud and exploitation, make wise choices about their money and well-being, and navigate some of the challenges that come with aging. Topics include scams that target seniors, identity theft, credit and debt, long-term care, advance directives, elder abuse and more.

Click GA Consumer Protection Guide for Older Adults-Sep 2022-Compressed for a helpful guide from the Georgia Consumer Protection Division (PDF reader required).

National Senior Fraud Awareness Day aims to raise awareness about financial fraud.