According to an FTC Data Spotlight, people 70 and older are reporting losing cash to scammers who pretend to be a friend or family member in trouble. People reported losing $41 million in 2018, versus $26 million the previous year. One quarter of people 70 and older reported paying scammers in cash.
People 70 and older who paid in cash reported a median loss of $9,000. Compare that to all age groups, who reported losing a median of $2,000 on these types of scams.
Many people said they were told to divide the bills into envelopes and place them between the pages of a magazine. Then, according to reports, they were told to send them using various carriers, including UPS, FedEx, and the U.S. Postal Service.
Click the link to learn more about cash-mailing scams: https://www.ftc.gov/news-events/blogs/data-spotlight/2018/12/new-twist-grandparent-scam-mail-cash.