Understanding Common Scams Targeted Toward Senior Citizens: Protecting Our Elderly Loved Ones All Year Round
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Understanding Common Scams Targeted Toward Senior Citizens: Protecting Our Elderly Loved Ones All Year Round

Understanding Common Scams Targeted Toward Senior Citizens: Protecting Our Elderly Loved Ones All Year Round

Seniors tend to be a target of many financial scams. Fraudsters believe that seniors have invested and have money lying in their bank accounts and will often coin investment tricks aimed at luring seniors. According to a 2021 report released by the Federal Bureau of Investigations (FBI), over 92,000 senior citizens lost approximately $ 1.7 billion to fraudsters. Most seniors are conned by people who pose as government officials who demand personal information.

Learn about the common scams targeted toward senior citizens and how to identify such fraudsters and scammers.

5 Common Scams and Frauds Targeting Seniors

Lottery Scams

This is a common scam that lures seniors into sending money or even gift cards in exchange for some prize they have won only to end up being conned. Scammers will call and claim that someone has won a lottery but needs to send a certain amount of money so they can claim their gift. Often, these scammers will associate with renowned sweepstake organizations and lure their victims into sending some money so that they can unlock their gift.

Robocalls

This scam takes advantage of automated phone technology to defraud seniors. Common robocalls include the "Can you hear me?" call and the impending lawsuit scams. Scammers will use the "Can you hear me?" call to record the voice of their target. Once a senior citizen answers the call, the scammer will record their voice and use it to defraud the individual. The recorded voice may be used to authorize payments from stolen credit cards.

In lawsuit scams, seniors are threatened by people who pretend to be law enforcers and warn of dire consequences if they fail to pay a certain amount of money. They are given a deadline to make the payment, failure to which they risk being fined or arrested. Out of fear, most seniors will make the payments and end up losing money to scammers.

Tech Support Scams

These scams send a pop-up message on your phone or computer screen. The message will claim your computer or phone has some issue that needs to be fixed by tech experts and will offer a customer support number. When unsuspecting seniors call the number, the fraudster may request remote access to the device and/or demand an upfront payment so they can fix the problem.  

Grandparents Scam

A person pretending to be a grandchild will call and prompt the senior citizen to guess their name. Most seniors over the age of 65 will guess a name based on the caller's voice. The caller may request financial help and request the grandparent not to tell anyone about it.

Phishing Emails and Text Messages

Here, scammers will pose as banks or credit card companies and request personal information such as social security numbers. Once seniors share this information, the scammer will use it to access personal information and even steal money from unsuspecting seniors.

What Should Seniors Do to Avoid Being Scammed?

While most unsuspecting seniors will fall prey to scammers, there are ways to avoid being conned. Here are some precautions that seniors may want to use to verify the source of the messages or calls they receive:

  • Ignore emails or text messages that do not address them by their names
  • Ignore offers that sound "too good"
  • Treat demands for cash or personal information with suspicion and demand to know the identity of the caller
  • If they have been conned, report the crime to the Federal Trade Commission
  • Have the number of Adult Protection Services in your area

If seniors receive such calls, they should first seek to identify the caller and demand before sharing any personal information. Seniors may also consider involving their adult children or a person they can trust in their financial matters.

Improve the Safety of Your Senior Loved Ones with Senior Helpers Central Long Island

At Senior Helpers Central Long Island, our friendly and compassionate in-home caregivers will help take care of your senior loved ones in Massapequa, Hicksville, Great Neck, Hempstead, Valley Stream, Nassau County, and Elmont. We offer quality services that help seniors enjoy life while also getting the company they long for. Contact us to schedule an in-home assessment and learn more about our services.