Download Tips to Protect Your Loved One from Senior Scams

 Tips to Protect Your Loved One from Senior Scams
Over the last decade, financial scams against seniors have increased significantly. According to
the National Adult Protective Services Association (NAPSA), one in every 20 seniors falls victim
to some kind of financial exploitation. Scammers have crafted several ways of getting their
hands on seniors’ personal information. A few of these popular tactics include:
•
•
•
•
•
•
•
Medicare Scams – Scammers pose as representatives on the phone and ask for
their target’s personal information.
Counterfeit Prescription Drugs – Scammers will sell bogus drugs over the Internet
to seniors looking for lower prices for their prescriptions.
Funeral Scams – Disreputable funeral agencies have taken advantage of a
deceased person’s family by capitalizing on their unfamiliarity with funeral costs,
overcharging them or insisting they pay for products and services they don’t need.
Telemarketing Scams – Scammers will call targets pretending to be representatives
from the IRS, their insurance company or hospitals, insisting that they provide their
personal information and bank account information or wire money in order to avoid
an issue.
Internet Fraud – Scammers create false advertisements for anti-virus software or
prizes that, when clicked on, download a virus that takes personal information off the
computer.
Investment Schemes – As seniors look for ways to invest their money for their later
years or to pass on to children, scammers jump in with “too good to be true”
investment opportunities.
Sweepstakes & Lottery Schemes – Scammers call to announce that their target
has won a significant prize, and all they need to do is pay a fee or verify their
personal information in order to claim it.
If you’re caring for an older loved one who may be more vulnerable to scams due to cognitive
decline, you can still help keep their finances secure. In addition to the strategies above:
•
•
•
Talk to them about scam tactics. Warn them never to give out personal information
over the phone or wire money to someone they do not know. Help them avoid Internet
scams by bookmarking the websites they use frequently (such as email) and blocking
pop-ups.
Keep an eye on their financial activity. Ask to see their bank statements or credit card
bills regularly. If you think your loved one is very much at risk, consider becoming their
legal guardian so you can protect their finances and assets.
If someone comes into your loved one’s house to clean or care for them, make sure you
interview them thoroughly first to ensure they are trustworthy. Not all financial scams
occur over the phone or on the Internet. Sometimes, those who seniors think they can
trust the most are the ones who have the greatest ability to exploit them.
If you suspect that you or a loved one has fallen victim to identity theft, fraud, scams or any
other form of financial abuse, don’t hesitate to report it. Call the police or your local Adult
Protective Services agency. Every report can help law enforcement track down and stop scams
from happening in the future.
We Would Love to Hear from You!
If you have comments or questions about our blog, we’d love to hear from you. We also
welcome you to share any caregiving insights or experiences in our comments section.
Live Well Beyond Ordinary
Offering Independent, Assisted Living and A Knew Day Memory Care, Grandbrier is a distinctive
senior living community designed to offer seniors residing in the Chicago Northwest Suburbs
area a fresh alternative to “typical” senior living communities.
Grandbrier of Prospect Heights provides residents with the ideal balance of personalized
support, dignified privacy and enhanced independence complemented by award-winning
VIVATM programming and luxurious amenities.
Managed by Pathway® Senior Living, an innovator in senior living, Grandbrier offers the choice
of private apartment floor plans and the beauty of a brand new community, stunningly appointed
and decorated for unsurpassed comfort and style by the award-winning senior living design firm,
Thoma-Holec Design, Inc.
For more information, please call Diane at 847-243-6920.
Disclaimer: The articles and tip sheets on this website are offered by Grandbrier of Prospect Heights for
general informational and educational purposes and do not constitute legal or medical advice. For legal or
medical advice, please contact your attorney or physician.