Final answer:
True. Elderly people are more susceptible to chain letter scams than any other type of fraud due to their age and perceived vulnerability.
Step-by-step explanation:
True. Elderly people are more susceptible to chain letter scams than any other type of fraud. This is because they are often targeted due to their age and perceived vulnerability. Scammers may take advantage of their trusting nature, lack of technological literacy, or desire for financial security.
For example, elderly individuals may receive chain letters via email or traditional mail that promise quick and easy money in exchange for a small investment or participation in a scheme. These letters often rely on emotional manipulation and the allure of quick wealth to entice victims.
It is important for elderly people to be aware of the signs of fraud and scams, as well as to seek advice from trusted family members or professionals before engaging in any financial transactions.