It’s no surprise that financial scams are on the rise. Every business and every individual is urged to use vigilance in surfing the web. The FBI studied financial scams targeting the elderly from 2019 to 2021, and the numbers are startling.
- Reports of losses more than doubled over that time
- There were over 265,000 cases of lost funds through scams
- Estimated losses of those cases surpass $1.7 billion
One of our recent graduates, Linda Buerkley, was one of those victims of online scams. She decided to use her story to help others avoid the same fate. Working closely with the Beyond Finance team, our Beyond Debt Now giveaway recipient wrote an editorial entitled “Seniors, Don’t Learn About Financial Scams the Hard Way Like Me.”
Today, that post is in Florida Daily.
What Say You?
Buerkley, 80, is a mother of two and a grandmother of six. Although she’s always tried to be careful, cyber criminals can be very skilled. Financial scams target everyone, but the elderly community is 93% less likely to file fraud reports because they “either don’t know who to report” or are “too ashamed they have been scammed.”
Linda was one of the victims of this type of scam, but she didn’t let embarrassment keep her from educating others. In her editorial, Linda shares her experiences and warns other Americans her age not to fall victim to these tricks.
Plenty of bad actors are preying on the elderly community. We must take steps to safeguard ourselves and our money. The best thing you can do is find a circle of people you can truly trust. Call upon friends or family when something seems suspicious or even wrong.
Linda also shared how she got out of debt, attributing much of her newfound confidence to Dr. Erika Rasure and Nate Astle, Beyond Finance’s financial therapists.
At first, I was afraid to tell anyone my story, but through the group sessions led by two financial therapists, Dr. Erika Rasure and Nathan Astle. I learned that I was not alone in my anxiety and stress. The sessions helped me regain my confidence. And there was healing in sharing. I began speaking to other attendees, sharing my experience and helping them overcome their shame.
You can read the rest of Linda’s article on financial scams. And if you’re like Linda and have been swindled out of your savings or victimized by fraud, please reach out to the authorities and your bank immediately.