Protecting Seniors from Elderly Fraud
By Ewa Frydel, Owner
Technology is advancing and the newest AI software is making scamming easier.
AI can mimic voices of loved ones, claiming to be in a tough spot and in need of money to bail them out. AI can even replicate a familiar face and put it in a photo which can be sent directly to your senior’s phone. Phone numbers very close to yours can pop up onto your aging parent’s phone and convince them it is YOU calling them.
Generally, the motive is to scam a senior into giving up funds or private information, like bank accounts, social security numbers, credit card information and much more.
Seniors are at high risk of being scammed because for many, they are unaware of the latest in tech and how to discern what is real and what is fraudulent. AI makes this tough.
It’s understandable to be afraid that this might happen to you or your senior loved one. However, being prepared with knowledge can greatly reduce you and your elderly parent from becoming a victim.
This blog aims to shed light on the rising issue of elderly fraud, its impact on seniors, and provide valuable insights on how we can protect our elderly loved ones from falling victim to these deceitful tactics.
Types of Elderly Fraud
Phone Scams: Fraudsters often pose as representatives from legitimate organizations, such as banks or government agencies, tricking elders into disclosing sensitive personal information or making fraudulent payments.
Internet Scams: Very commonly, seniors are at risk of falling victim to online fraud. Common tactics include phishing emails, fake websites, and online shopping scams.
Medicare and Health Insurance Fraud: Perpetrators target seniors by offering fake medical products or services, billing for services not rendered, or obtaining personal information under the pretense of updating Medicare or health insurance details.
Sweepstakes and Lottery Scams: Seniors are often enticed with promises of winning a large sum of money or valuable prizes. Scammers typically request payment for "processing fees" or "taxes" before the prize can be claimed.
Protecting Our Elders
Stay Educated: Be sure to learn what scams are out there and inform your senior that if they are ever in doubt or receive a call, or email, similar to those listed above, to contact you immediately. Tell them to never offer any information without talking to you or other trusted family members first.
Encourage Critical Thinking: Teach seniors to question suspicious calls, emails, or messages, advising them to verify the identity of the person or organization before sharing any personal information or making financial transactions. Always, and we mean always, verify the identity of who is calling. Emails can be ignored until your senior is certain it is legitimate. Never click a link from unknown senders!
Strengthen Privacy Measures: Help elders set up strong and unique passwords for their online accounts, enable two-factor authentication, and use reputable antivirus software to protect against malware and phishing attempts.
Limit Exposure to Personal Information: Advise seniors to be cautious about sharing personal information, both offline and online. This includes writing information on notes and leaving them around or in their pockets. If they go out, this can fall out of their pocket putting them at risk. Teach them how to set up private notes on their phone. You can go along with them to any appointment where personal information will be released.
Stay Connected: Loneliness and isolation can make elders more vulnerable to scams. Regularly check in on elderly family members, encourage participation in social activities, and help them build a support network.
Consider a POA: A Power of Attorney can greatly help the principal (senior) rely on an agent (appointed trustworthy person, like a family member) to handle any information that requires the release of information. Your senior can ensure that any call, email, or mail is being passed on to you or the agent to make sure they are protected.
Elderly fraud is a growing concern in today's digital age. By equipping ourselves with knowledge and taking proactive measures, we can play an essential role in safeguarding our elderly loved ones from falling victim to fraudsters.
While fear is validated, you can be on top of elderly fraud and prevent it from ever happening. There never needs to be a first time if you and your senior first doubt and then verify. Remember, banks will not call. The IRS will not call. Not unless there was a consented appointment already established. If in doubt, go without.
If you have any questions about elderly fraud or in need of more resources, contact us.
We’re here for you!
Legal Disclaimer
This blog provides general information and discussions about keeping seniors safe from elderly fraud and should not be construed as medical advice.