Close to 50% of U.S. adults report they have been targeted by money scams perpetuated by impostors, according to findings from a new study from the AARP Fraud Watch Network.

“The Impostors: Stealing Money, Damaging Lives” report found that close to half the country has been contacted by romance scams, grandparent scams and government scams involving imposters who say they’re working for the IRS, Social Security Administration or Census Bureau.

“We’ve learned that scammers are very shrewd and adept at capitalizing on current events,” said Kathy Stokes, AARP’s director of Fraud Prevention Programs, who added she is concerned that Census Bureau scams will be the next big swindle opportunity.

“Most people are expecting to hear soon from the Census Bureau so scammers will use that to their advantage as they aim to deceive people into sharing sensitive information or handing over money,” she said.

AARP findings underscore the thought that many Americans may indeed be vulnerable to a Decennial Census imposter scams:

· A whopping 70% of respondents were incorrect or unsure about whether the Census Bureau would contact them via email.  In reality, invitations to participate in the Census actually will be sent via U.S. mail.

· More than a third (35%) expect or are unsure whether the Census questionnaire will ask for their Social Security number. The Census Bureau says it will never ask for sensitive information such as Social Security number, bank account information or passwords, or request payment of a fee.”
 
As a heads up to financial advisors who may want to educate their clients and their vulnerable family members, invitations to respond to the Decennial Census will be mailed to U.S. households in March. Responses to the Census questions may be submitted online or via mail or telephone. By May, Census workers will begin visiting or contacting households that have not yet responded.

In reality, government impostor scammers are most likely to initiate contact with their targets via telephone.  The AARP survey found that 88% of adults targeted and/or victimized were first contacted by phone.

Among other findings of the survey:

· Forty-five percent of people age 50 and older have been contacted by a government impostor, as compared to 35% of those ages 18 to 49.

· Two in five U.S. adults use dating websites, apps or online social groups to find potential dates or romantic partners.  Of those, half encountered one of the “red flags” of romance fraud, including requests for money.

· Fifty-five percent of survey respondents failed a 10-question fraud safety quiz.

· In some good news, the majority of U.S. adults are at least somewhat familiar with government impostor scams and relationship scams (including romance fraud and the grandparent scam) – indicating public awareness is growing.

“These findings suggest that increased awareness about impostor scams is needed to help protect consumers from falling victim to these scams,” according to AARP, which said it commissioned the national survey of 2,273 adults ages 18 and older in five states: Connecticut, Oklahoma, Pennsylvania, Vermont and Washington.

According to the Federal Trade Commission, there were 647,472 impostor scams reported to the FTC’s Consumer Sentinel Network in 2019.

Impostor scammers are con artists who deceptively masquerade as someone consumers know or are likely to trust, and who uses the trust to convince or coerce victims into sending them money or giving them personal information. Impostors often use techniques that are anonymous, quick and irretrievable.

The toll of imposter scams goes beyond the financial impact, according to the AARP survey.  Among those who have been targeted and/or victimized, 18% reported that they experienced health problems or emotional distress as a result of the encounter. People ages 18 to 49 reported health or emotional issues at a higher rate than those age 50 or older.

AARP, which has 50 million members age 50 or older, offers a free helpline (877-908-3360) to report scams or get help from trained volunteers and posts fraud alerts on its Twitter account @AARPadvocates.