Take Precautions to Prevent Being Scammed Tips to Prevent Being the Victim of Scams Targeting Older Adults Access to major funds or credit, the fact that sometimes seniors are isolated and lonely and the perception that elders have reduced cognition are all reasons scam artists view older adults as easy prey. Each year, older Americans lose approximately $3 billion to an ever-growing number of financial scams, according to the U.S. Senate’s Special Committee on Aging. But just because you or a loved one may be a target doesn't mean you or someone you care about has to be a victim. With awareness of the most common scams and having strategies in place, you and your loved one can avoid getting ripped off and help law enforcement agencies shut down these sordid operations. Common Scams Targeting Seniors Senior scams play on our biggest fears and concerns – our health, our finances, our home and the well-being of our families. Scammers enter people’s lives by mail, phone and email, and in person with an unsolicited knock on the door. They often look official and seem trustworthy. Their offers may seem like good ideas – often too good to be true. Some of the most common senior scams include: IRS Scams: People pretend to be Internal Revenue Service employees and ask for payment for back taxes that are supposedly owed.
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Sweepstake Scams: Fraudsters call or send a flyer saying you have won something. To retrieve your “prize,” they ask you to send a check or give your credit card or bank account number. Medicare/Health Insurance Scams: Someone calls saying they are from Medicare or a health insurance company and asks for confidential, personal information, such as your Social Security number. Social Security Scams: A caller pretends to be with Social Security and attempts to get your Social Security number and other personal information by threatening legal action. Romance or Sweetheart Scams: Through online dating sites and apps, scammers build fake relationships with targets. Once a sense of trust is established, the scammer creates stories to elicit the transfer of funds to pay for made-up expenses such as medical emergencies, airplane or hotel expenses and other major purchases. Update-Your-Account Scam: An email or text that looks like it is from a company you actually do business with pops into your inbox or comes across your phone and asks you to update your account information, including a credit card or bank account number. Home Repair Scams: Unsolicited, someone knocks on your door saying they can fix an
Aging Resources 2021–2022
