In this episode of Not Ready Yet: Curating Conversations for the Aging Journey, host Lisa Harper speaks with Dr. Keith Ludwick, a retired FBI agent, expert on scams targeting seniors, and author of ScamSmart: An Expert's Guide to Spotting Scams and Living the Fraud Free Life. They discuss the alarming rise in scams, particularly affecting older adults, and the importance of education and awareness in preventing scams. Dr. Ludwick shares his personal journey into this field, the statistics surrounding scams, and practical advice for recognizing and responding to potential scams. The conversation also touches on the emotional and financial impacts of scams on families with aging loved ones and the distinction between scams and financial elder abuse. Dr. Ludwick emphasizes the need for a proactive approach to protect vulnerable populations and offers resources for education and support.

Takeaways

• Dr. Ludwick's background includes over 22 years with the FBI.
• Education is key to preventing scams among seniors.
• The average loss for seniors due to scams is significant.
• 95% of scam victims never recover their funds.
• Seniors are particularly vulnerable due to isolation and trust.
• Urgency in financial decisions often indicates a scam.
• It's important to approach concerns about scams with empathy.
• Creating a scam advisor list can help seniors feel secure.
• Awareness of different types of scams is crucial for prevention.

Chapters

00:00 Introduction to Scams and Aging

02:51 The Impact of Scams on Seniors

05:10 Understanding Scam Statistics

07:36 Challenges in Recovering Lost Funds

10:21 The Broader Implications of Scams

13:18 Why Seniors Are Targeted

15:58 The Role of Technology in Scams

19:15 Recognizing and Responding to Scams

21:48 Types of Scams and Their Dynamics

26:21 The Emotional Toll of Scams

29:31 Recognizing Red Flags in Scams

32:57 The Role of AI in Modern Scams

35:39 Protecting Yourself from Scams

41:20 Understanding Financial Elder Abuse

46:25 Guidance for Adult Children on Scam Awareness

Contact Dr. Keith Ludwick

www.stopscammingme.com

Book Available Soon on Amazon: ScamSmart: An Expert's Guide to Spotting Scams and Living the Fraud Free Life

LinkedIn https://www.linkedin.com/in/keith-ludwick-ph-d-76360560/