Financial Scams and the Elderly
This year, a Pesach hotel program collapsed shortly before the holiday, causing countless problems for guests and a tremendous loss of money. The reason given was a fake email from the hotel to the kosher syndicator that provided a false bank account number to wire the money to. It’s pretty surprising that a sophisticated businessman would wire hundreds of thousands of dollars to an unconfirmed bank account. But that’s how scams work – through trickery and deception.
I am sure you are all aware that scams have been increasing. The title of this article is perhaps misleading as scams are getting more sophisticated, and not only the elderly are falling for them. For example, yesterday I received a phone call from a well-known New York yeshiva. I gave the lady my credit card number to make a donation. Was that safe? She sounded frum, so I did it. All ages should pay attention, but the elderly remain prime targets.






