Defrauding the Elderly: Watch for These Danger Signs

This very moment, someone's elderly parent or grandparent is likely wiring tens or even hundreds of thousands of dollars to scammers overseas. Scammers are smart and relentless, using a variety of ruses to draw unsuspecting victims into their schemes.

According to a 2015 study by True Link Financial, "Seniors lose $36.48 billion each year to elder financial abuse -- more than 12 times what was previously reported." And the FINRA Investor Education Foundation reports that more than 8 in 10 seniors are solicited for potentially fraudulent offers, adding that "Americans age 65 and older are more likely to be targeted and 34% more likely to lose money once targeted than respondents in their 40s."

Why are seniors