T Elderly financial fraud: targeting Six scams seniors he elderly are frequently targeted for financial scams of all sorts, resulting in an annual loss of more than $3 billion. A recent study by the AARP explains that people over 50 tend to be more trusting of the marketplace and are less likely to take action if defrauded, making them an ideal target for financial abuse. The Multi-State Information Sharing and Analysis Center (MS- ISAC) is sharing some of the more common elderly financial fraud being perpetrated, along with tips to avoid them. The Grandparent Scam In this type of scam, the caller claims to be a relative who is in trouble and needs money now for an emergency. The caller requests the senior to provide more information, making the request appear genuine. This is not a legitimate call. Hang up the phone and contact the family member or the authorities. The Sweepstakes Scam such as a credit card company, the Social Security Administration, the Internal Revenue Service, or telephone or electric companies. • Don’t rely upon caller ID to indicate who the call is coming from. • Never give out personal information to an unsolicited caller. • Hang up and contact the company the caller claims to be with directly if you feel you need to talk to them. Internet Scams
There are so many ways scammers are using technology to take advantage of seniors. Be sure to follow these tips to stay safe online. • Never click on links or open attachments in emails. • Don’t shop using a public Wi-Fi connection. • Know what the product costs by doing your research before purchasing. • Make sure the site is secure. • Make sure all computer antivirus, malware, and security software is up to date. • Don’t save credit card information online; check out as a guest if that option is available. Charity Scams While there are many charities that are worthy of your donations, be sure you know who you are donating to. Avoid charities that will not answer your questions or provide written information about their programs or finances. Talk with family, friends, or trusted sources before giving to a charity, and never give cash or purchase gift cards for payment. If you or someone you know has been a victim of fraud, contact your local law enforcement immediately. Remember to keep a close eye on bank and credit card statements and report any unusual activity. Remember, staying informed helps to keep YOU in control!
In this case, the scammer sends their target a check or something else of value through the mail or via email, text or phone call, indicating the recipient won something. In order to claim the “prize,” the recipient may have to send a check or money order to cover taxes and fees, and may be asked for banking information or to buy something to enter the contest. Do not respond to these messages and never provide identifying information to anyone over the phone, via text, or email – especially bank account information. The Home Improvement Scam Scammers target seniors by providing home improvement services in order to gain access to their home, belongings, and personal information. They will arrive at their target’s house, offer free inspections, or offer services to fix something that “needs work.” The homeowner should always stay in control of the situation and not be intimidated by the person at their door. The Telemarketer Scam Scammers will target seniors in an effort to obtain financial information by claiming to be from an important institution
10 | Germania Today
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