National Senior Fraud Awareness Day 2024, observed annually on May 15, raises awareness of senior adult fraud, costing $36.5 billion annually, and improves protections for older Americans.
Source: Bloggingpro
National Senior Fraud Awareness Day 2024 (US): An annual observance of National Senior Fraud Awareness Day occurs on May 15. It raises awareness of senior adult fraud, which costs $36.5 billion a year. The US Congress declared today National Senior Fraud Awareness Day to raise awareness and improve protections for older Americans in light of this alarming statistic. National Senior Fraud Awareness Day has been observed annually since its inception in 2018.
Financial fraud has existed for thousands of years. In 300 B.C., Greek trader Hegestratos bought “bottomry” insurance. His loan required interest repayment. He was required to repay upon cargo delivery, per his insurance policy. Hegestratos, on the other hand, intended to submerge an empty vessel, retain the loan, and sell the merchandise while the lender remained unaware. In an unsuccessful attempt to escape with his personnel and passengers, he ultimately drowned.
Additionally, the United States has a lengthy history of financial deception. Charles Ponzi, an American, discovered in 1920 that by purchasing postal vouchers in the United States and shipping them abroad, he could earn 5%. He refrained from telling his investors that, nevertheless. The Ponzi scheme assured them of an enormously exaggerated 50% profit return. After repaying earlier investors with the substantial funds received from newer investors, he ultimately escaped the country. As a result of the profound distress he caused with his deception, an entire generation gave this form of deceit its moniker.
Presently, older people in the United States are frequently the most susceptible to financial deception, and a significant number of them fall victim to a few prevalent types of scams. Scammers impersonating government officials occasionally deceive them into divulging sensitive information, such as their Social Security numbers. Fraudsters may text older people, citing a problem with their bank account, credit card, or other account, and request their login details.
National Report IRS Tax Fraud Day 2024 (US): Five Interesting Tax Facts and FAQs
What are the criteria for financial fraud?
“Someone deprives you of your money or capital or otherwise harms your financial health through deceptive, misleading, or other illegal practices” is financial fraud.
Is financial fraud punishable by law?
Financial misconduct is, in fact, illegal.
How many individuals in the United States fall victim to fraud?
Approximately one in ten American adults falls victim to fraud each year.
Year | Date | Day |
---|---|---|
2024 | May 15 | Wednesday |
2025 | May 15 | Thursday |
2026 | May 15 | Friday |
2027 | May 15 | Saturday |
2028 | May 15 | Monday |
HG Awareness Day 2024: History, FAQs, and Facts about Hyperemesis Gravidarum
California releases July 2024 CalFresh payments, ensuring residents know the exact timing and details for…
In July, US residents will receive $500 monthly stimulus payments, subject to state-level criteria, which…
World Chocolate Day 2024 honors chocolate, introduced in 16th century Europe, with enthusiasts enjoying rich,…
National Strawberry Sundae Day 2024 celebrates the delicious combination of strawberries and ice cream, promoting…
Bonalu 2024 is a Hindu festival celebrated in Hyderabad, Secunderabad, and Telangana, honoring Mahakali with…
SSDI application for physical conditions can be stressful, with varying decision times from 30 days…