NAELA Launches Initiative to Tackle Scams Against Senior Citizens

NAELA Takes Action Against Scams Targeting Older Adults

As National Elder Law Month approaches this May, the National Academy of Elder Law Attorneys (NAELA) is stepping up efforts to combat financial scams that prey on older citizens. With reports highlighting a staggering increase in scams aimed at seniors—over $2.4 billion lost in 2024 alone—NAELA aims to raise awareness and equip individuals and families with practical strategies to combat these threats.

Recent statistics from the U.S. Federal Trade Commission reveal that the financial loss to scams has increased alarmingly from $600 million in 2020 to the present figure. NAELA President Eric Einhart notes that today’s schemes utilize advanced technology and psychological tactics, making it imperative to educate and empower the elderly against such manipulations.

Identifying Common Scams

To aid in this endeavor, NAELA has released a comprehensive guide that outlines the most prevalent scams targeting older individuals. This guide offers insights into recognizing red flags of fraud, preventive measures, and resources for those who have become victims. Some common scams include:

1. Government impersonation scams – Many of these scams involve impersonating authorities like the Social Security Administration.
2. Imposter scams – Fraudsters may fake identities of reputable companies such as Amazon, FedEx, Netflix, and Bank of America to extract personal information or funds.
3. Investment fraud – In 2024, this category saw some of the highest losses among older adults, reflecting the need for cautious financial planning.
4. Romance scams – Vulnerable seniors, particularly those who are widowed or geographically isolated from family, are often targeted.
5. Tech support scams – These scams exploit seniors who may not be as adept with rapidly evolving technology.

The guidance provided serves to enable older adults and their families to better identify these threats and take preventive actions against them.

NAELA Conference

Furthering its mission, NAELA is organizing an annual conference scheduled for May 29–30 in Milwaukee, Wisconsin. This event will feature a session hosted by experts from AARP focusing on elder fraud prevention. Einhart emphasizes the significance of education as a paramount tool in reducing instances of fraud.

“Understanding the warning signs empowers older adults, their families, and caregivers to proactively shield themselves against potential scams,” he remarks.