Con artists go where the money is and seniors who have built up sizable nest eggs are often targeted through e-mail, phone calls or even door to door pitches. AARP member John Driscoll is educated and intelligent but says he has been caught up in attempted scams. Driscoll and feels fortunate that he was able to get out without losing any money.
"When someone takes the time to think about what's going on, often times that little flag comes up that says, this doesn't make sense. There's something wrong with this," said Driscoll.
On Wednesday in East Syracuse, the New York State Attorney General's office gave a presentation to seniors about warning signs and why they need to be cautious with some investment offers or pleas for financial help. Many scams are sophisticated and for seniors like Robert O'Connor using extra caution is a good thing.
"People really should check that out further. Maybe ask for some information and if the person doesn't want to leave any information, that's a red flag," said O'Connor.
Judith Malkin from the Attorney General's office says a 2009 study said only one in twenty four senior fraud victims reported it to authorities.
"They were conned and that can happen to anybody but people feel if they are older other people will look at that differently and they may fear that their relatives or children will say they can't manage their finances," said Malkin.
Even if seniors are embarrassed, Malkin says the attorney general's office needs to know so they can stop the scammer and save others from losing money.