Bangladesh, Aug. 12 -- The US Federal Trade Commission (FTC) has recently issued a critical consumer alert warning older adults about a rising wave of sophisticated scams aimed at stealing their life savings. These scams increasingly target retirees and are far from minor frauds-they often lead victims to lose tens or even hundreds of thousands of dollars. Understanding how these scams operate and how older adults can protect themselves and their loved ones is crucial in todays digital and phone-driven environment.

Older adults, especially retirees who have spent decades building their financial security, are particularly vulnerable to these scams. Many retirees possess savings carefully set aside to support their retirement years, makin...