As being an advisor that is financial have experienced various types of tried scams on customers, but perhaps one of the most devastating frauds may be the relationship scam.
In 2018 individuals reported losing $143 million to romance frauds in america, in line with the Federal Trade Commission. This is certainly a staggering sum of money. But this figure is probable just a tiny percentage of this real sum of money lost if you think about exactly how many people most likely did not report being scammed. And what’s worse, is relationship frauds are regarding the increase based on a Federal Trade Commission customer protection information limelight.
Why Does the Scam Work?
Elderly adults, especially widows, are increasingly susceptible to relationship frauds since they might be lonely or looking for companionship following a loss. Regardless of if it is been years adhering to a loss, the surviving partner may be emotionally delicate and their guard is down. Unfortunately, relationship scammers understand this, and it also presents the door that is perfect scammers to achieve trust. Read More …