Elderly woman loses savings to online romance scam

An elderly woman lost her entire life savings to an online scammer. This widowed grandmother was once the wealthiest member of her family due to smart investments, including in Coca-Cola. She believed she was in a serious relationship and even planned to marry the man she met online. Despite warnings from her family, the woman transferred large amounts of money to the scammer. She currently receives a monthly pension of $5,000 from the VA, but her assisted living costs $4,000 a month. This leaves her with just $1,000 to live on, and her family fears the scammer might also target her pension. Experts say the money is likely gone for good because the elderly woman authorized the payments. Banks usually do not reimburse funds sent under such circumstances. After her passing, a durable power of attorney may help manage her estate, allowing trusted family members or attorneys to make decisions for her. Scams targeting wealthy elderly individuals are becoming more common. A recent case involved a French woman who lost around £700,000 to a scammer posing as actor Brad Pitt, using AI-generated images. To avoid scams, experts advise being cautious with online deals, particularly those that seem too good to be true. They recommend that people do not send money to strangers or give remote access to personal devices. Always validate who you are communicating with, and be careful at ATMs or when withdrawing cash.