Justice Department announces largest-ever elder fraud crackdown

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The Justice department is cracking down on scams targeting the elderly CBS news correspondent Anna Werner said that the number of victims quadrupled over a four year period. Lies like these have cost seniors their life savings. Justice department officials said since March of last year charges against some two hundred sixty people have been filed in elder financial scams. The cases affected roughly two million Americans with losses of an estimated seven hundred fifty million dollars. Older Americans are often targeted like sixty five year old Kathleen mcinerney of Connecticut, last November a scam artist obtained her credit card, number and other personal information. Then tried three times to get cash advances off the card in amounts. Totaling sixty six hundred dollars. I felt such a invasion. You know that someone had that information Lynn settling I would say US banks reported over twenty four thousand suspected cases of elder financial abuse to the treasury department last year more than double the amount five years earlier common scams against the elderly now, some banks are giving their staff training at People's United Bank headquarters in Bridgeport, Connecticut, employees learn why scammers go after older customers. They have a lot of money. And that's why they are the age group of choice. VP Karen gal Bose says Bank employees can stop a scam in its tracks. If somebody's coming in and making large withdrawals that don't normally take out a lot of money because they might be on affixing comb, let's say social security income could be a red flag for us. Coincidentally mcenery card was from People's United and an alert employees prevented the fraud. Even though we hear about scams coming from strangers all the time a government report out last month points out that when people lose more money, it's because the scammer is somebody they know like a friend or family

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