SCAMMING THE ELDERLY

Here Are 5 Common Scams Targeting Our Seniors

Elderly people are among the most vulnerable members of our society. They often feel isolated, and have limited access to resources that could protect them against con artists and scammers. Unfortunately, many of these criminals prey on this vulnerability, regularly approaching older people with schemes designed to trick them out of their money. This is a heinous and abhorrent act and we must do all we can to prevent it. In this blog post, we explore some of the most common scams targeting elderly people and provide tips to help keep them safe.

Medicare and Health Insurance Scams:

Scammers often pose as representatives of Medicare or health insurance providers and offer seniors false rates, free supplies, or identity theft protection. To avoid falling for these scams, make sure to only share personal information with trusted sources, never engage with an unsolicited telemarketing call, and verify information with the official source (i.e., Medicare.gov or the insurance company).

Lottery and Sweepstakes Scams:

In these types of scams, a criminal will claim that the victim has won a large sum of money, but must first pay “processing fees” or taxes before collecting the prize. This is critical, if you receive a phone call that you have won a prize, never pay any form of processing fee. Remember that if it's too good to be true, then it probably is.

Investment Fraud Scams:

Elderly people are often targeted in this type of scam, during which predators attempt to convince potential investors to place money into a high-return, low-risk “opportunity”. Unfortunately, these schemes are usually fraudulent, and any money given to the scammers is likely to be lost forever. Again, be wary of high-return and low-risk investment opportunities, and always investigate a company before giving them your money.

Tech Support Scams:

These are some of the most insidious scams out there, with criminals calling or emailing victims, claiming that they are technicians from recognized IT companies, and requesting remote access to their computer to “fix a virus”. This is obviously dangerous, as the criminal can then access sensitive information that can be used to commit identity theft. Be very careful while attending to strangers announcing any concern related to your system, always investigate items that sound suspicious.

Grandparent Scams: 

These scams use a simple premise – the criminal will call an elderly person and pretend to be their grandchild. They will often claim to have been arrested in a foreign country and need bail money to get out of jail. The scammers will ask the victim to wire money immediately, as time is of the essence. These types of scams work because they exploit the victim’s love and concern for their grandchild. Get in touch with the person who they are posing as to verify the claims, then stay in close contact throughout the ordeal.

Conclusion:

As a society, we must be vigilant in the protection of our elderly citizens, not only for them, but for all of us. The above examples serve as a reminder that scamming of our senior citizens is not just a small issue, and needs to be taken seriously. There are many other types of scams and frauds out there, and so it’s important for seniors to stay informed, and to seek out help when needed. Be proactive about fraud prevention, and don't hesitate to contact the authorities if you suspect that someone is trying to defraud you or someone you love. By working together to keep our seniors safe, we can make a difference and protect one of our most valuable resources.