Senior Scams Continue in Florida
Senior scams continue to hurt families across Florida, and the latest frauds highlight the importance of proper asset protection in Palm Beach County. The latest scams have robbed elderly individuals of millions of dollars, and although the criminal justice system provides for severe penalties for those responsible, it is often impossible to recover any of the lost money. If you’re becoming concerned about this threat, you might want to talk to an experienced asset protection lawyer in Palm Beach County.
Attorney General Announces Eight Arrests in $8.8 Million Bank Fraud
In July of 2025, Attorney General James Uthmeier announced that eight people had been charged with carrying out an $8.8 million bank fraud. The scam targeted 230 people, many of them elderly individuals. It seems that the suspects are former bank employees who used their inside knowledge to access and share sensitive details like Social Security numbers, account numbers, and more.
Other scammers used this information to open new accounts and steal funds. The authorities called this a “well-organized” operation that involved racketeering and many other crimes.
The fact that this scam was carried out by bank employees highlights the unreliability of modern financial systems. Seniors and their families may feel more comfortable after securing their assets with additional layers of security, including the use of trusts. It may also help to spread funds between multiple banks to reduce the risk of these scams.
Florida Man Arrested for $20,000 Scam Targeting Senior Woman
Also in July of 2025, a scammer was arrested in Florida after attempting to carry out a $20,000 scam against a local senior woman. It was a classic “tech support scam” involving a fake virus. The woman connected with someone impersonating a tech support worker, who instructed her to withdraw $20,000 from her account and transfer it to the scammer.
Fortunately, an investigation quickly identified the person responsible. Authorities arrested him and charged him with multiple crimes, including obtaining property from a vulnerable adult. This incident also highlights the need for effective asset protection strategies in the modern era.
Can Trusts Provide Protection Against Scammers?
Although certain strategies like two-factor authentication can help protect funds in bank accounts, the truth is that the financial system has many vulnerabilities. For an additional layer of protection, seniors and their families might want to consider the creation of trusts. With this approach, there is more oversight and protection for trust assets. Consider discussing this possibility with an experienced estate planning attorney.
Can an Elder Law Attorney in Palm Beach County Help Protect Against Fraud?
An elder law attorney in Palm Beach County may be able to help seniors and their families explore options for asset protection. These strategies can make it more challenging for scammers to access and steal your hard-earned wealth. If you’re exploring these strategies on behalf of your elderly loved one, your efforts could not only help them but also help protect your inheritance. Learn more by contacting Kitroser Lewis & Mighdoll today.
Sources:
floridadaily.com/florida-attorney-general-charges-eight-suspects-accused-of-8-8m-bank-fraud-scheme-targeting-seniors/
mocoshow.com/2025/07/25/florida-man-arrested-in-20k-scam-targeting-local-senior/
foxbusiness.com/technology/florida-ceo-sentenced-5-years-prison-after-stealing-110m-from-us-government-program
