Prevent Senior Loved Ones From Scams
Prevent Senior Loved Ones From Scams
It is that time of the year again... Phone scams, prizes, holidays, disasters and the effects of fear and shame.
- One in five Americans age 65 and older has been impacted by fraud.
- Individuals targeted by scams average a loss of $430.
- Older Americans are swindled out of at least $3 billion a year.
These numbers are especially scary for West Virginia. The U.S. Census estimates show persons 65 years and older accounted for 18 percent of the state’s population.WV ranks third in the nation; with only Maine and Florida having more seniors residents.
The end of the year is a good time to check in with your older friends and relatives. You can often tell by just listening if they've been targeted or been the victimized in a financial crime. They may be proud of helping a cause or seemingly not have enough discretionary income.They may not freely admit to that but you can tell if you ask about things they usually do or such as dining out with friends or shopping. You just keep your eyes and ears open.
Seniors are less inclined to scrutinize offers carefully. They can be more prone to scams and being abused by those they identify as trusted individuals. Research shows that an older adult’s pre-frontal cortex makes them more trusting of people.
Older people also often pick up the phone to talk to strangers, making them susceptible to phone scams, ranging from fake IRS tax collectors to bogus lotteries.
Frequent Scams to Be Aware Of
Donation/Charity/ Disaster Scams
Such scams are commonly associated with giving back to law enforcement, firefighters, veterans or their families.Callers often identify as `State Troopers Fund', `Police Union', `Breast Cancer Survivor Charity' and `Firefighters of America.' Donation/Charity Scams have increased 132% since this time frame last year and are a great reminder to always double check before donating.
We care.We help.We give.There have been many natural disasters.The news paints horrible, gut wrenching pictures of the death and destruction.Our hearts go out.
A similar reprehensible scheme may have the caller impersonating a grandchild or family friend requesting assistance to help them out of a bind. This could range from an “unexpected” hospitalization, or financial crisis. Often times the caller will ask the elder not to share this request with family. The caller may also suggest means through which funds can be sent that are not easily tracked. This leaves them more vulnerable to financial exploitation
HINT:When checking in with an elderly relative, ask if they've seen the news on recent events or seasonal promotions and inquire if they have been asked to help out financially in the community or with a donation to disaster relief funds.
Gift Card Scams
The holidays are approaching fast and we are all searching for good deals. Victims are told that they won a gift card through a Rewards Redemption program but they lose money when paying the `activation' or `shipping and handling' fees.
Scammers also entice users with a special holiday offer such as `Buy one gift card, get two free' and victims never receive their intended cards after payment. Gift Card Scams have increased 162%.
HINT: The way to avoid these scams is to never buy gift cards over the phone, if you choose to buy them at all. It's much better to give cash or a check directly to someone, since most gift cards sit in drawers and may even expire.
Holiday Cruise Scams
It is getting colder outside and we begin to long for warmer weather and vacation. Scammers will claim `You won a free cruise!' but victims lose money when they pay the upfront “port fees” or taxes in order to claim the tickets. Holiday Cruise Scams have increased 62%.
HINT: Tell a story or ask if they know anyone who has received such calls.
The most important thing to keep in mind for scam protection is that the fraud merchants are relentless because they have automatic dialing machines in their robo-calling arsenal. They now have the ability to utilize an arsenal of local numbers which increases the appearance of legitimacy.
According to a recent Robocall report more than 10.2 billion robocalls were made to U.S. consumers in 2017 alone. So if it feels like you’ve received dozens, if not hundreds, of spam or scam calls this year, you’re not wrong. Typical American phone spam victims have received an average of 118 spam calls this year."
HINT: If a caller offers a prize, request that information be mailed to a home address for further review. If told that an immediate response is needed in order to receive the cash reward or prize, then decline the offer.
The best piece of advice I can give you is that when people get to the point of losing cognitive functions on money and mobility, they will fight like with every ounce of their being to convince you that they're not having a problem. At that point, even as a child, you need to become a parent. That's brutally difficult and an emotional bungee jump.
Those who have recently assumed the role of managing their finances, perhaps due to t he loss of a spouse or caregiver, may be more at risk for being targeted by a fraudulent telemarketer. The National Council on Aging notes that scam artists know that many older adults have fixed incomes.This can make them more susceptible to fraud, because there may be an openness to learn about ways to make money and pay their bills.”
According to a recent survey by Fidelity Investments, although some 60% of those surveyed saw their friends lose financial independence, only 9% think they will have the same problem. Nobody wants to admit that they will lose certain mental functions, but when they do, they easy targets for scammers. They may wish to avoid discussing a fraudulent act out of concern that family may intercede too aggressively by having the elder feel that their independence may be threatened.
HINT: Tell your elderly relatives to use their Caller ID feature judiciously. If it's a toll-free or number they don't recognize, they don't have to pick up.It is not rude to let an unknown caller go to voicemail.If it was an important call they can always call right back.
Report Fraud or Suspected Scams
- Report fraud to the AARP Foundation
- Better Business Bureau, report a suspected scam
- National Do Not Call Registry
- Senior citizens in need of the West Virginia’s recently created Elder Abuse Assistance unit’s expertise will benefit from the Attorney General’s newly established senior services and elder abuse hotline. It’s just a phone call and email away at 304-558-1155 or HelpForSeniors@wvago.gov. The hotline is open for senior citizens and their loved ones. Those preferring traditional mail can reach the office at P.O. Box 1789, Charleston, WV 25326.
