Protecting Older Adults from Scams
Older adults are frequent targets for scams because scammers assume they have savings, pensions, or home equity. According to data from the National Council on Aging (NCOA), here are some of the most common scams targeting seniors.
1. Health Insurance Scams-A person on the phone or even at your door, will say that you need a new Medicare card and they need to have your social security information in order to process the new card. They may also ask you for information to process medical claims, mention you need additional supplemental insurance policies and that you need to provide them with personal information.
2. Telemarketing scams-these pretend to offer free trials, extended warranties, prizes, investments and other things over the phone.
3. Fake family scam-people calling and pretending to be a relative, often a grandchild, and getting tricked into volunteering the relative's name and then being told they need money for an accident, medical emergency, or arrested and need bail money. The caller begs the senior not to tell anyone.
4. Financial services scam-these scams use phishing email, texts or phone calls to look like they come from legitimate companies such as a bank or mortgage company, or a government agency saying your account has been locked and they need a password or social security number to reopen it.
5. Romance Scams-scammers create online fake profile accounts, start relationships and gain trust to then ask for money.
Here are some tips on how to protect yourself from becoming a victim of a fraud:
1. Do not click on suspicious links or open attachments in email from people you do not know. When in doubt, do not open them.
2. Do not call phone numbers in suspicious emails. Do not answer spam calls and block any numbers that are harassing.
3. Never give out any personal information over the phone, or online, such as birthdays, social security numbers, bank account information. Reputable institutions will not call you and ask for this information. If you are uncertain, contact your bank directly from its main number on the website or go in person to find out information. Use two step authentication in your accounts.
4.Shred sensitive documents.
5.Hang up on any suspicious caller claiming to be family and then call your family member directly to check in with them.
6. Report scams as soon as possible. Contact your bank immediately to block transactions. Report it to your local police authorities and you can contact the Federal Trade Commission online.
7. Share your story with other family members and trusted friends
8. Use multistep authentication in your accounts.
9. For additional information on how to protect yourself from scams and fraud, including when traveling, visit the website Department of State.