Loneliness may make older people more vulnerable to scammers — MarketWatch
An older person wrote to The Moneyist column asking why it is mainly scammers who want to communicate with them, while relatives and acquaintances rarely stay in touch. The letter writer also reflects on whom to leave an inheritance to, noting that they would rather bequeath their property to people who genuinely valued their company than to heirs who showed almost no interest in their life. This is stated in a MarketWatch report.
Loneliness and vulnerability
The author of the response emphasizes that it is easier for scammers to act when a person is isolated and has no one with whom to discuss their doubts. Criminals may offer friendship or romantic relationships, create a sense of urgency, or convince the victim that a problem has arisen that requires an immediate decision.
At the same time, the article notes that relationships often have mixed motives, and friendship may involve mutual benefit that is not only financial in nature, including a need for support, recognition, or social connections. In the columnist's view, lying, deceit, manipulation, coercion, and exploitation cross the ethical line.
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Losses from fraud
According to the U.S. Federal Trade Commission, the median reported loss from fraud was $800 among people aged 70 to 79 and $1,500 among those aged 80 and older. Older people were also more than twice as likely to report losing money in schemes involving fake prizes, sweepstakes, and lotteries.
The article notes that younger people may be targeted by scammers more often, but older people generally lose more money. A study published in the journal Psychology and Aging also indicates that the quality and closeness of friendships, rather than the size of a social circle, are more important for well-being. Older people generally have smaller contact networks, but about as many close friends as younger people.
The columnist links the loss of social contacts in later life to relocations, illnesses, the deaths of friends, and retirement, after which a person may lose connections from the workplace. Among the opportunities for making new acquaintances, he names community groups and clubs, and also emphasizes the value of friendships between people of different ages.
