Assemblymember Marc Berman (D-Menlo Park) hosted his annual Senior Scam Stopper Seminar Oct. 28 to educate his constituents to help prevent them from falling victim to ever-evolving scams.
“The world has changed a lot since I first hosted my first Senior Scam Stopper Seminar seven years ago, and so have the strategies that bad actors use to scam people out of their hard-earned money,” Berman said in a press release. “Whether it is someone showing up at your door offering to fix your house, or AI generated phone calls meant to sound like a grandchild in distress who needs money, it is more critical than ever that we be constantly vigilant and skeptical. Scams can upend people’s lives, so no matter your age, it is important to have the knowledge and awareness to protect yourself and your loved ones.”
In 2023, the Federal Trade Commission (FTC) reported that seniors lost more than $1.9 billion to fraud, according to the press release. However, as the vast majority of fraud goes unreported, the FTC estimates that the total amount lost could be as high as $61.5 billion.
“Seniors are the largest population targeted for scams, and we’ve learned that it’s because many times seniors may have money accumulated – in their homes, their life insurance or retirement savings – and believe it or not there are people in the world that want to steal a piece of our hard-earned savings,” said the California Department of Insurance’s Lisa Strange.
More than 750 constituents signed up for the virtual seminar, during which a panel of experts at various relevant state agencies and departments provided resources and information on common online scams, real estate fraud and understanding privacy rights.
The panel included representatives from the Contractors State Licensing Board, the California Department of Insurance, the Department of Financial Protection and Innovation, the Department of Real Estate, the Bureau of Household Goods and Services and CalPrivacy.
A recorded video of the seminar is available at tinyurl.com/BermanSeniorScamStopper.
