Right now, one of the scams on the rise is the so-called sweetheart scam.
Like younger folks, older Americans are increasingly using online dating sites, and those sites can open a window for scammers.
February may be the month of hearts and flowers, but it's also prime time for financial cons, from imposter fraud to the "sweetheart scam." The reasons for the seasonal lift in these scams are simple enough.
Many people, still keeping with their New Year's resolutions, are looking for love and are especially vulnerable to scammers.
The typical victim of elder financial fraud is a white woman ages 70 to 89, according to a study by Met Life.
"You are not out and about because you are afraid you are going to fall on the ice," said Alexandra Armstrong, a financial planner based in Washington.
She received her Master's in Somatic Psychology from the California Institute of Integral Studies in 2009.
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In these scams, fraudsters call or email and say they are from an agency like the IRS.
They tell the target they owe back taxes and provide an address for them to send money.
Then they say they are in a predicament—they're in jail, their wallet was stolen, or something similar—and they don't want their parents to know. "We've asked victims, and they say, ' I'm a smart person. But the minute they said they were my grandchild and I'm the only one that can help them, all my common sense went out the window,'" Nofziger said.