Financial scams have become increasingly popular, especially among seniors. Seniors typically have worked hard to save money and have large sums sitting in accounts which is exactly what the scammers are after.

Below is an excerpt about a popular scam to be aware of so you can protect yourself and loved ones.

Crooks Extort Grandparents for Cash Amid Pandemic by AARP Fraud Resource Center

"Amid the global health crisis, the FBI and local police are investigating an uptick in grandparent scams. In New Jersey and New York alone, roughly 100 victims have lost about $1 million in recent months, an official says.

The scams often begin when an older person is contacted by a criminal who poses as a panicked grandchild in need of thousands of dollars quickly for an emergency such as a hospital bill or bail money, says the FBI's Greg Takacs, an assistant special agent in charge in the bureau's Newark, New Jersey office.

"It's just so disgusting,” he says, as these bad actors are preying on older folks and exploiting the love and sense of altruism they have for their family members.

The scams are fast-moving extortions with various pretexts. A crook may pretend to be an attorney or bail bondsman, Takacs says. And the relative said to need big bucks is not always a “grandchild;” it could be a “niece” or “nephew.”

Read the entire article here: Census Scams - AARP Fraud Resource Center