What is elder fraud and why is it increasing right now?

Elder fraud is financial exploitation that targets seniors, often through impersonation, emotional manipulation, or false emergencies.

There's an $80 trillion wealth transfer underway - and scammers know it.

In this episode of Retire in Texas, Darryl Lyons exposes how criminals are increasingly targeting seniors and families using sophisticated elder fraud schemes, including fake "grandchild in trouble" calls and AI-generated voice cloning.

Drawing from a Department of Justice investigation, Darryl breaks down how international call centers impersonate loved ones, manipulate emotions, and move stolen cash through unsuspecting rideshare drivers. He also explains how scammers now need as little as three seconds of audio from social media to replicate a family member's voice using AI.

You'll learn:

• How grandparent scams work from start to finish.

• Why seniors are being targeted during the historic wealth transfer.

• How AI voice cloning makes scams harder to detect.

• Real warning signs to listen for during urgent phone calls.

• Practical steps families can take to protect aging parents and grandparents.

This episode isn't just about financial loss - it's about the emotional damage these scams cause to families, parents, and seniors.

If you or someone you love may have been exposed to fraud, contact the FBI at 1-800-CALL-FBI (1-800-225-5324).

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Resource:

www.justice.gov/usao-ma/pr/thirteen-individuals-charged-operating-transnational-elder-fraud-scheme