Image: Couple with financial planner © moodboard, Corbis

The big wave of baby boomers retiring this year makes AARP's Jean Mathisen a little nervous. The program director for the group's Fraud Fighter Call Center expects her office to get more calls than ever about retirement-age investors being scammed, with their nest eggs the target. To add insult to injury, many of the so-called financial advisers doing the damage are aging baby boomers themselves.

It's a case of seniors scamming seniors.

"This problem has definitely been affected by the recent economy," Mathisen says. "Older investors may be tempted by opportunities to quickly recover money they lost when the stock market took a hit, and con artists see a great opportunity to hit easy marks."

These "easy marks" are not exactly who you might think they are, says John Gannon, the president of the Financial Industry Regulatory Authority's Investor Education Foundation. Today's senior victims aren't stereotypical elderly shut-ins who give money to scam artists who befriend them.

Instead, Gannon says FINRA's interviews of fraud victims indicate that the most likely senior targets are on the younger edge of the group -- 55 to 65 years old and primarily male, college-educated and financially savvy.

But these investors have a few foibles. "They're anxious for new, different financial answers," Gannon says. "They're looking for retirement income, and their mutual funds aren't performing as they'd like. Or they've been conservative investors in the past and are seeing that CDs and bond rates aren't working for them."

As a result, financial deals that offer even slightly higher-than-average returns have become tempting to this group. At the same time, there is a risk that some senior financial advisers, looking to improve their own financial situation after the recession, may be more aggressively pushing products or suggesting inappropriate investment choices for their clients, Gannon says. That can be a toxic combination.

FINRA research also discovered another common thread among seniors scammed by other seniors. "They're not likely to get a second opinion on an investment opportunity from their attorney or even their wife," Gannon says. "They're sure they know what they're doing."

Here's how to avoid being a victim of a senior-to-senior investment scam:

Check your adviser's credentials. Today's scammers may use titles like "certified senior financial planner" to make you believe they are uniquely qualified to assess your retirement needs. In reality, "many of those designations and letters behind their names don't tell you anything," says Pat Huddleston, the CEO of Investor's Watchdog and a former Securities and Exchange Commission enforcement branch chief. Investor's Watchdog is a for-profit investor protection firm that conducts research on brokers to help its customers avoid fraudulent investments.

According to Huddleston, some of these advisers' titles are fabrications, and others are flimsy. Advisers might qualify to use their titles after only attending a weekend course.