Elder Fraud and Protecting Our Loved Ones from Phone, Mail, and In-Person Scams

In our latest podcast, we welcome Lynn Shobe, retired Senior Special Agent with the Alabama State Bureau of Investigation. We talk about phone, mail, and in-person financial fraud, and why criminals still use these "old school" methods.  Lynn, a Certified Fraud Examiner and Certified Financial Crime Investigator, has spent over half of his 40+ year career focusing on financial crime and fraud investigation. His focus on financial fraud has led him to a deep understanding of both the criminal and victim mindsets.  In the first part of this two-part podcast, we discuss the characteristics of scams and some of the tactics used. We talk about victims’ mindsets, and why so many people, especially the elderly, are fooled into handing over thousands of dollars, sometimes repeatedly.  You can reach Lynn through his LinkedIn https://www.linkedin.com/in/lynn-shobe-cfe-cfci-71b89017/.  According to the FBI IC3 report on Elder Fraud, criminals stole over $3 billion from our nation’s elderly in 2022 alone, costing the average victim $35,000. https://www.ic3.gov/Media/PDF/AnnualReport/2022_IC3ElderFraudReport.pdf.  If you or someone you know has been a victim of elder fraud, involve local law enforcement immediately. In cases of significant monetary losses, ask your local law enforcement to involve the FBI immediately.  And contact the National Elder Fraud Hotline: 833–FRAUD–11 or 833–372–8311. https://ovc.ojp.gov/program/stop-elder-fraud/providing-help-restoring-hope.  Contact Russ Dorsey, CIO at Kassouf, for more information or if you have suggestions for additional programming.  [email protected].