There’s straight-up fraud (like someone stealing your grandma’s bank account information from her mailbox), and there’s also just gross marketing strategies aimed at seniors to get them to buy things they don’t need (like prepaid funerals). We’re going to cover it all so you can help your older loved ones avoid these traps. 10 Most Common Elder Fraud Scams This one’s a biggie right now. Scammers impersonate tech companies and then email or call saying you need to pay to fix a phony tech issue or sign up for a subscription for a fake security service. They also might impersonate a customer service rep for a utility company, a government agency or a bank and tell you there’s a problem with your account and they need personal info to fix it. These scammers will try any means possible: email, phone, text, social media, snail mail, you name it. But remember, no government agency, including the IRS, will ask for personal information over the phone. And in general, one of the best ways your older loved ones can protect themselves is to never give their personal information to anyone unless they know exactly who the person is and why they need it. Tax identity theft is one of the top scams the IRS deals with each year. Scammers steal someone’s Social Security number, file taxes using the stolen identity, and then steal the tax refund. Yuck. These people are lower than low. They’ll happily steal your parents’ refund but certainly won’t be stepping in to help if they owe money! Stolen Tax Refunds One of the very best ways to prevent tax identity theft is to file your taxes as early as possible. Encourage—or even help—your older loved ones to file as soon as they can. The sooner they file and get their refund, the sooner they’re not a target. Tech Support Fraud
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