Helping Seniors Avoid Scams

Fraud committed against seniors has become such a major issue that the National Council on aging calls it the “crime of the 21st century”. Seniors lose an estimated $3 billion a year to scams.

The FBI reports that seniors are more likely to fall victim to fraudsters because they tend to be more trusting of others, especially when they claim to be an “official” of something. Seniors also tend to have larger savings accounts, own a home and other large assets, and most often have good credit. In addition, many seniors can become forgetful in their later years, suffer from memory loss, and are not usually as tech savvy when it comes to the digital world.

Most Common Scams

Consumer Reports, the National Council on Aging, and the FBI have all outlined common fraud schemes, as well as the tactics used by scammers, as a way to help senior adults and those who care for them be aware of these crimes and learn how to prevent them.

The scams listed as most common are:

– Charity/lottery/sweepstakes scams

Scammers contact unwitting seniors claiming to be a representative of an actual charitable organization and ask for donations or contributions. They also often pose as an official representative from a lottery or sweepstakes association, claiming the senior has won a trip or perhaps a large sum of money, and require the senior to pay money in order to claim their prize.

– The grandparent scheme
Scammers pose as a close relative of the senior adult and claim to be in danger or in some sort of serious financial situation. Most phone calls begin with something similar to “Hi Grandma/Grandpa do you know who this is?” When the victim responds with a name, the scammer will begin a story line that ultimately results in asking for access to bank or credit card information.

– Telemarketing/phone scams

This particular type of scamming method has been around for years, but fraudsters are always adapting the methods they use to trick seniors. 

One type of scam is known as the fake accident ploy. The caller claims a family member has been involved in an accident or hurt in some way and needs money. Another very common ploy is known as the pigeon drop, where the caller poses as a financial representative or attorney and claims to have a large amount of money to split with the senior if they make a “good faith payment” first.

Seniors also often fall victim to scammers who claim to be government or healthcare representatives, whereas they get access to money by claiming the victim has made false claims in regards to social security, medicare, health benefits, etc. The scammer then asks for personal information to rectify the situation, and in some cases even threatens prosecution of a false crime in order to scam the senior out of large amounts of money.

– Internet scams

There are numerous scams seniors can fall victim to online, especially since many are really not as tech savvy as they should be. Some of the most common ones are:

• Scammers pose as someone who has a romantic interest in the senior on social media or chat groups online. This can be easy for a lonely senior to fall victim to. The scammer creates a bond with the senior that ultimately results in the person asking the senior for financial help.
• Email and phishing scams are used to gain direct access to the victim’s computer and personal information. The victim receives an email that appears to be official from the IRS, tech support or a fraudulent virus-protection company. When the senior clicks on the link in the email, the scammer gains instant access to their personal and private information via their computer.

Tips to Avoid Scams

It’s important to speak with your senior loved one on a regular basis about the very real threat of scammers. Here are ways you can help them prevent becoming a victim of fraud:

– When receiving a suspicious phone call or any online queries, make sure your senior loved one knows to ask the caller for their full name, business title and association with the organization they are claiming to represent. Have them call the organization directly about the individual. They can also conduct an online search for contact information.

– Explain the importance of not acting too quickly. A scammer will convey a sense of urgency to encourage victims to act immediately. It’s important the senior remains calm and gathers all necessary information before doing anything.

– It’s vital that your senior loved one NEVER give any personally identifiable or financial information (bank account numbers, checks, money wiring transfers) to unverified individuals or businesses.

– Make sure that their computer is installed with up-to-date antivirus and security software protection, and that they are aware this is the case. Only use a verified business and speak with a representative from there if necessary. Talk to them about how important it is while on the computer to never click a link, attachment or pop-up from any unknown source.

– Call the police if you or they feel there is real danger.

It is an unfortunate fact that there are those who willingly trick seniors out of their money. Using the tips above can go a long way in helping to prevent this from happening to your loved one.

At Jurney’s Assisted Living, our main priority is the health, safety and security of our residents. Here, residents can live as independently as they wish, with the calm assurance that help is always available, should they require assistance with their activities of daily living. Contact us today for more information.