Scammers with their con games and hoaxes cost people over 60 billions of dollars every year.

Older folks often don’t want to admit they may have been victimized.

According to AARP, there are several telltale signs to watch for:

  1. Money and valuables are disappearing for no good reason.
  2. Bills aren’t being paid, and a parent seems confused about his or her finances.
  3. The parent is secretive about money and says he or she needs more. There may be strange credit card charges.
  4. A family member won’t answer questions about your parent’s money.
  5. Someone new befriends your parent and manages to take joint title to accounts and property.

To help seniors and their service providers – financial advisors, physicians, employees of financial institutions, and caregivers – recognize common types of fraud, two government agencies have created a free training module called “Money Smart for Older Adults.”

Jointly developed by the FDIC and the Consumer Financial Protection Bureau, it’s available on the website.