Consumers lose billions of dollars to fraud annually. From corrupt insurance providers to fake telemarketing companies, there are countless schemes waiting to separate people from their money.

See also: Beware of area code scams.

While anyone can fall victim to fraud, many con artists target the 50-plus age group. Con artists are often described as highly charismatic individuals. They tend to prey on and exploit lonely older Americans. Compounding the problem is that many seniors who are victimized find it hard to admit to being scammed, which can cause a continuous cycle.

In Outsmarting the Scam Artists, Doug Shadel discusses specific techniques con artists use to lure people into their schemes. The book offers practical advice on ways you can avoid falling prey to scams.