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Senior Scams & Tips to Protect Your Family

Senior Scams & Tips to Protect Your Family

Protecting Our Seniors: The 5 Most Common Scams Targeting Older Adults

It is essential to be aware of the scams that disproportionately target seniors. Scammers often exploit the trust and vulnerability of older adults, leading to significant financial and emotional distress. This blog post will discuss the five most common scams targeting seniors and provide tips on recognizing and avoiding them.

1. Phishing Scams

Phishing scams involve fraudulent communications that appear to be from legitimate organizations. Scammers may send emails or text messages claiming to be from banks, government agencies, or well-known companies, asking for personal information.

We encourage our seniors to be skeptical of unsolicited messages. Do only click on links or provide personal information online if they can verify the source. If in doubt, say no thanks and hang up. You can block the incoming number. If you do not know how to do this, we will gladly show you how to block numbers on your phone.

AARP - Scam Hotline Number 

2. Romance Scams 

Kelsey and I have, unfortunately, had several of our senior clients scammed for hundreds of thousands of dollars. It is heartbreaking to find out about these situations after they have occurred, and the scumbags have been able to manipulate vulnerable seniors in their lonely moments to share credit card and banking information with online and phone-texting fake lovers. One particular senior we had the privilege to work with last year was scammed for $150,000. Still, it may have been much more before a professional fiduciary and attorney was called in to help this sweet lady get control of this situation and protect and manage her finances. She had recently lost her husband, and the week after his death, she was targeted by scammers who talked her into sensitive information, which gave them access to her accounts. 

Another sweet, lovely lady we worked with developed a phone-texting love affair with a professional scammer who texted her 10-15 times a day, acting like her lover with seductive and romantic text exchanges. He was very possessive and told her to hide their romance as her daughter would be jealous of their true love. By the time her daughter caught on to what was happening, she had given this predator over $100,000 dollars. These are real stories of two beautiful seniors we worked closely with in similar situations.

Romance scams involve scammers creating fake profiles on dating websites and social media platforms. They typically establish an emotional connection with the victim over time and eventually ask for money, claiming to be in a difficult situation.

Please be cautious when forming online relationships. Please avoid sending money or sharing personal information with someone you or your family have not met. These creepy online predators are often located out of state and country. 

Department of Justice - Senior Scams

3. Tech Support Scams - these hit seniors hard.

In tech support scams, fraudsters impersonate legitimate tech support representatives. They may call the victim, claiming a virus is on their computer, and offer to help fix it. Often, they request remote access to the computer or payment for unnecessary services.

If you suspect a tech support scam, please hang up and independently contact the company's customer service line. Legitimate companies will not ask for personal information over the phone.

4. Lottery or Prize Scams

Seniors may receive notifications of winning a lottery or sweepstakes they never entered. They are often asked to pay a fee or provide sensitive personal information to claim their prize.

Tip—Please remember, seniors, that if it sounds too good to be true, it probably is. Legitimate lotteries do not require payment to claim winnings.

5. Medicare and Health Insurance Scams

Scammers often impersonate Medicare representatives to sell fake products or services. They may ask for personal information or payment for unnecessary services not covered by Medicare.

We encourage all seniors to be skeptical of unsolicited calls about health services. You should verify the caller's identity and report suspicious activity to Medicare or local authorities.

AARP - Great link for more information

Best practices from Deborah and Kelsey

Awareness is the first step in protecting our seniors from scams. By understanding the common tactics scammers use and taking proactive measures, we can help our loved ones stay safe and secure. Encourage open discussions about these threats and remind seniors to trust their instincts—if something feels off, it's best to walk away. Together, we can help safeguard our elders and friends from fraud.

Warm regards, 

Deborah & Kelsey

 

Senior Real Estate Specialist

With years of experience, Deborah has a track record of success and is here to exceed your expectations. Contact our team today so we can guide your family through the entire process A-Z.

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