| Freelance Articles by Mary King |
| This article is protected by Copyright. Contact the author to obtain permission for republication. |
| Seniors make easy targets for fraud, scams and identity theft. Older people and caregivers can help prevent many types of scams that victimize elderly persons. |
Older persons are easy victims of fraud, identity theft and Internet schemes. Physical
restrictions of old age and a failing memory are just two reasons thieves target seniors.
Anyone—seniors and caregivers, included—can learn how to guard against robbery and
fraudulent activities. Even a distant family caregiver can investigate and question
suspicious activity that may spell trouble for an independent elderly loved one.
Age-Old Scams that Target Elderly Persons
What senior can resist a call from a grandchild, even if it comes with a desperate plea for
money? The grandparent scam is a common way for a young thief to collect fast cash.
How? The thief poses as a grandchild in trouble or in dire need of extra funds. Grandma
isn't sure which grandchild she's talking to, but she understands when the young adult (or
teen) says he doesn't want to approach his parents for the funds. She can't quite place the
voice and figures old age has affected her memory. What kind of grandma (or grandpa)
would she be if she turned down her own grandchild? So, she wires the money as
instructed—a few hundred or even a few thousand dollars or more—without giving it a
second thought.
What makes the grandparent scam so scary? The thief may actually be acquainted with a
family member! The thief could have collected bits of family information. He casually
mentions something that Grandma recognizes to help seal the deal. She is now convinced
that this is one of her own grandchildren who needs help.
Another scam aimed at older people is the black widow scam. The con man (or woman)
preys on a lonely—and (usually) wealthy—widow (or widower) by cultivating a close
friendship or intimate relationship with the victim. Investment schemes, lavish dining,
costly vacations and spending sprees continue until the victim is tapped out of money,
savings and assets.
But that's not the end of the black widow damage; something more has likely occurred
during the whirlwind relationship: The thief has had plenty of time and opportunity to
gather valuable information about the aged victim's family members. He or she could easily
have collected a volume of personal information that could put other family members at
risk for financial loss and identity theft!
restrictions of old age and a failing memory are just two reasons thieves target seniors.
Anyone—seniors and caregivers, included—can learn how to guard against robbery and
fraudulent activities. Even a distant family caregiver can investigate and question
suspicious activity that may spell trouble for an independent elderly loved one.
Age-Old Scams that Target Elderly Persons
What senior can resist a call from a grandchild, even if it comes with a desperate plea for
money? The grandparent scam is a common way for a young thief to collect fast cash.
How? The thief poses as a grandchild in trouble or in dire need of extra funds. Grandma
isn't sure which grandchild she's talking to, but she understands when the young adult (or
teen) says he doesn't want to approach his parents for the funds. She can't quite place the
voice and figures old age has affected her memory. What kind of grandma (or grandpa)
would she be if she turned down her own grandchild? So, she wires the money as
instructed—a few hundred or even a few thousand dollars or more—without giving it a
second thought.
What makes the grandparent scam so scary? The thief may actually be acquainted with a
family member! The thief could have collected bits of family information. He casually
mentions something that Grandma recognizes to help seal the deal. She is now convinced
that this is one of her own grandchildren who needs help.
Another scam aimed at older people is the black widow scam. The con man (or woman)
preys on a lonely—and (usually) wealthy—widow (or widower) by cultivating a close
friendship or intimate relationship with the victim. Investment schemes, lavish dining,
costly vacations and spending sprees continue until the victim is tapped out of money,
savings and assets.
But that's not the end of the black widow damage; something more has likely occurred
during the whirlwind relationship: The thief has had plenty of time and opportunity to
gather valuable information about the aged victim's family members. He or she could easily
have collected a volume of personal information that could put other family members at
risk for financial loss and identity theft!
| Why Older People Fall Victim to Scams, Fraud and Phishing Schemes |
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January 2012
Scams that Older Persons Should be Aware Of
There are numerous scams that are specific to elderly persons, too
many to list here. Thieves are always coming up with new ideas for
bilking people out of hard-earned money and government benefits.
Here are a few well-known scams to watch out for:
There are numerous scams that are specific to elderly persons, too
many to list here. Thieves are always coming up with new ideas for
bilking people out of hard-earned money and government benefits.
Here are a few well-known scams to watch out for:
- Foreign lottery scam. The victim sends a fee and personal info to
the distributor in exchange for a big prize that doesn't exist. - Home repair scam. This is an old scam that people still fall for,
especially older persons who don't have someone to do repairs
around the house. Warnings of such scam activity go out after a
hurricane, ice storm or some other disaster when folks need
home repairs and are in a hurry to get everything back to normal.
It's important to know that a repair scam can occur any time,
however. - Internet scams. Too numerous to count, the ease and speed of
ordering practically anything online increases the chances of
getting scammed. Be wary of unfamiliar websites; check out the
company before sending any money or giving out any personal
information. Never trust a vendor who doesn't have a secure site
for doing business. Secure sites use https in their URLs (the S is
for secure). Also, secure sites have a padlock icon in the lower
right-hand corner of the page. Reputable sites will never ask for
your password. - Email scams. Never access a secure site via an email link because
it could be part of fraudulent activity. Access the authentic site
instead by typing the URL into the address bar and then take care
of whatever business needs your attention. If you suspect a
fraudulent email, then report it to the real company. - Telemarketing scams. Phony telemarketers advertise a product or
service that you pay for by giving the representative a credit
card number. Beware of such thievery where the goods don't
exist. The caller is actually phishing for personal information
and/or credit card info. - Charity scams. The names may sound or look authentic, but
they're phony. Charity fraud rakes in millions of dollars from
victims who let sympathetic emotions cloud good judgment.
Reasons Why Elderly People are Targeted for Scams and Identity Theft
Old age affects the senses, physical ability and mental function. Seniors often have to depend on other people to do
things they can no longer do themselves, like managing finances, taking care of health care and legal business, and so
on. It pays to conduct a full background check of anyone who works with or for an older person or someone who is
disabled. Reputable agency caregivers go through such a check, but that doesn't automatically stop an employee from
being dishonest. And sadly, family member caregivers aren't exempt from taking part in scam activity.
AARP, one of the most trusted organizations in existence, featured the story of legendary actor Mickey Rooney and his
public plea to Congress to do something about elder abuse—including financial abuse. There were multiple articles that
covered the story, but a short version highlighting the details can be read here: "Senior Abuse a Growing Problem".
More reasons why older people are vulnerable to scams, fraud, identity theft and phishing schemes:
Just imagine how many scams toward older people go unreported each year! Why wouldn't someone report scam
activity? Elderly people have pride, too. They are too embarrassed to tell family members or don't want to admit to
being scammed, so many crimes of this type go unreported.
Elderly Persons Victimized in Medical Plan Scams
Medical care costs and prescription drugs have many elders looking for discount plans that are cheap. Seniors (and other
consumers) sign up for phony plans that offer plenty of features and great savings (It sounds too good to be true). They
send premium payments every month to a company that doesn't exist. It may be months before the phony company is
exposed.
Review any plan before signing up. Make certain the company offering the plan does exist and is legit. Review the
entire plan to make sure it has the coverage you want/need. Check to sure there is an adequate network of providers
in the area.
Caregivers and seniors can put a stop to fraud by monitoring phone calls, screening mail for suspicious offers and
keeping a watchful eye on bank accounts. Report any attempt or incidence of fraud immediately to the authorities. It
pays to stay informed and aware—the best way to protect yourself and the older people in your family. Take an active
part in putting a stop to fraud. It will lessen your chances of becoming the next victim.
Old age affects the senses, physical ability and mental function. Seniors often have to depend on other people to do
things they can no longer do themselves, like managing finances, taking care of health care and legal business, and so
on. It pays to conduct a full background check of anyone who works with or for an older person or someone who is
disabled. Reputable agency caregivers go through such a check, but that doesn't automatically stop an employee from
being dishonest. And sadly, family member caregivers aren't exempt from taking part in scam activity.
AARP, one of the most trusted organizations in existence, featured the story of legendary actor Mickey Rooney and his
public plea to Congress to do something about elder abuse—including financial abuse. There were multiple articles that
covered the story, but a short version highlighting the details can be read here: "Senior Abuse a Growing Problem".
More reasons why older people are vulnerable to scams, fraud, identity theft and phishing schemes:
- Elderly persons are more likely to be home to answer the door.
- A senior who's lonely is more apt to answer the phone and will talk openly to nice-sounding strangers.
- Old people are often too trusting. They are more apt to divulge information about self and family, disclosing all
sorts of information to any kindly visitor or stranger who will listen. - Elderly persons are viewed as vulnerable and often have to ask for help or assistance.
- An older person feels experienced about many things in life. He may mistakenly think he is "a good judge of
character" when it comes to sizing up a stranger.
Just imagine how many scams toward older people go unreported each year! Why wouldn't someone report scam
activity? Elderly people have pride, too. They are too embarrassed to tell family members or don't want to admit to
being scammed, so many crimes of this type go unreported.
Elderly Persons Victimized in Medical Plan Scams
Medical care costs and prescription drugs have many elders looking for discount plans that are cheap. Seniors (and other
consumers) sign up for phony plans that offer plenty of features and great savings (It sounds too good to be true). They
send premium payments every month to a company that doesn't exist. It may be months before the phony company is
exposed.
Review any plan before signing up. Make certain the company offering the plan does exist and is legit. Review the
entire plan to make sure it has the coverage you want/need. Check to sure there is an adequate network of providers
in the area.
Caregivers and seniors can put a stop to fraud by monitoring phone calls, screening mail for suspicious offers and
keeping a watchful eye on bank accounts. Report any attempt or incidence of fraud immediately to the authorities. It
pays to stay informed and aware—the best way to protect yourself and the older people in your family. Take an active
part in putting a stop to fraud. It will lessen your chances of becoming the next victim.
The Home Repair Scam ... Bad weather often brings
out thieves who go door-to-door looking for work
(and a hefty up-front cash deposit). Or, the thief
calls potential "customers" by phone and contracts to
do the work. Again, the customer has to make some
kind of down-payment first—usually by credit card. In
both cases, the phony worker never shows up, but
has collected thousands of dollars and/or credit card
information
out thieves who go door-to-door looking for work
(and a hefty up-front cash deposit). Or, the thief
calls potential "customers" by phone and contracts to
do the work. Again, the customer has to make some
kind of down-payment first—usually by credit card. In
both cases, the phony worker never shows up, but
has collected thousands of dollars and/or credit card
information