Savvy Seniors Program Provides Training to Avoid Targeted Scams
ORANGE, Calif. (Oct. 26, 2018) – Senior citizens are the fastest growing segment of our society and have become a primary target for illegal money scams through phone or online based soliciting. To help combat the growing threat against our nation’s seniors, American Advisors Group (AAG), a leading provider of home equity solutions for retirement, has partnered with the Better Business Bureau Foundation of San Diego, Orange and Imperial Counties to sponsor the Savvy Seniors Program. The campaign offers a series of free seminars that teach Southern California seniors how to recognize targeted scams.
“As a company, our business goals go beyond just making money. AAG professionals are truly dedicated to making a difference in our customers’ lives and helping as many seniors as we can achieve better outcomes in retirement,” said AAG Chief Executive Officer Reza Jahangiri. “Now, with the BBB partnership, we are able to help even more seniors by protecting them from a broad range of exploitation and abuse.”
The Savvy Seniors Program offers free Lunch & Learn seminars, spanning locations across San Diego and Orange Counties, aimed at coaching active local seniors on how to recognize targeted scams such as grandparent scams, Medicare scams, power of attorney scams and email scams. Lessons also include financial spending tips and information on other programs aimed at empowering the senior community.
“Unfortunately, seniors are frequently the target of unscrupulous business practices,” said BBB Pacific Southwest President and Chief Executive Officer Matthew Fehling. “By partnering with AAG on the Savvy Seniors Program, we can help ensure that our local seniors are able to recognize these scams and provide tips on how to avoid becoming a victim, as well as what to do if victimized by fraud.”
Each year, senior citizens lose more than $36 billion to financial fraud, according to a report by True Link Financial. However, many more unreported incidents may take place. The U.S. Department of Justice reports that senior citizens are less likely to report fraud because they don’t know who to contact, don’t know they have been scammed, or are ashamed to tell their family. If a family member suspects that their loved one has been involved in a scam, they are encouraged to contact the U.S. Senate Special Committee on Aging’s Fraud Hotline.
AAG is dedicated to helping older Americans find new ways to fund a better retirement through the responsible use of home equity. As the nation’s leader in reverse mortgage lending, AAG offers a suite of home equity solutions — including federally-insured Home Equity Conversion Mortgages, traditional and proprietary mortgages, and real estate services — that are designed to give seniors a better financial outcome in retirement. AAG is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). To learn more about AAG and reverse mortgage loans, please visit the company’s website at www.aag.com.