Reasons why fraudsters target seniors

Grieving people often are confronted with dozens of decisions about a funeral — often made quickly and under emotional duress. Funerals cost thousands of dollars. Protect yourself with this Consumer Guide. Financial fraud is only one kind of Elder Abuse. Learn more about Elder Abuse. This handy guide provides resources, checklists and worksheets - all in one place.

Moore All Rights Reserved. People who grew up in the s, s, and s were generally raised to be polite and trusting. Con artists exploit these traits, knowing that it is difficult or impossible for these individuals to say "no" or just hang up the telephone. Elderly victims may not report crimes, for example, because they are concerned that relatives may think the victims no longer have the mental capacity to take care of their own financial affairs.

When an elderly victim does report the crime, they often make poor witnesses. Con artists know the effects of age on memory, and they are counting on elderly victims not being able to supply enough detailed information to investigators. In addition, the victims' realization that they have been swindled may take weeks—or more likely, months—after contact with the fraudster.

This extended time frame makes it even more difficult to remember details from the events. Senior citizens are more interested in and susceptible to products promising increased cognitive function, virility, physical conditioning, anti-cancer properties, and so on.

Medical Equipment Fraud: Equipment manufacturers offer "free" products to individuals. Services Not Performed: Customers or providers bill insurers for services never rendered by changing bills or submitting fake ones. Medicare Fraud: Medicare fraud can take the form of any of the health insurance frauds described above. Senior citizens are frequent targets of Medicare schemes, especially by medical equipment manufacturers who offer seniors free medical products in exchange for their Medicare numbers.

Because a physician has to sign a form certifying that equipment or testing is needed before Medicare pays for it, con artists fake signatures or bribe corrupt doctors to sign the forms. Once a signature is in place, the manufacturers bill Medicare for merchandise or service that was not needed or was not ordered. Never sign blank insurance claim forms. Never give blanket authorization to a medical provider to bill for services rendered. Ask your medical providers what they will charge and what you will be expected to pay out-of-pocket.

Carefully review your insurer's explanation of the benefits statement. Call your insurer and provider if you have questions. Do not do business with door-to-door or telephone salespeople who tell you that services of medical equipment are free. Keep accurate records of all health care appointments.

Know if your physician ordered equipment for you. Be mindful of appearance. Closely examine the packaging and lot numbers of prescription drugs and be alert to any changes from one prescription to the next. Consult your pharmacist or physician if your prescription drug looks suspicious. Alert your pharmacist and physician immediately if your medication causes adverse side effects or if your condition does not improve.

The grandparent scam. Every U. In these types of scams, perpetrators may pose as a Medicare representative to get older people to give them their personal information, or they will provide bogus services for elderly people at makeshift mobile clinics, then bill Medicare and pocket the money. Medicare scams often follow the latest trends in medical research, such as genetic testing fraud and COVID vaccines.

A pop-up message or blank screen usually appears on a computer or phone, telling you that your device is compromised and needs fixing. Often, seniors will be sent a check that they can deposit in their bank account, knowing that while it shows up in their account immediately, it will take a few days before the fake check is rejected. Unlike some of the other scams noted here, lottery and sweepstakes scammers can sometimes collect thousands of dollars from their unsuspecting victims.

Robocalls take advantage of sophisticated phone technology to dial large numbers of households from anywhere in the world. Robocallers use a variety of tactics to cheat their victims. As more people use the Internet for dating, con artists see an opportunity to find their next victim.

In some cases, romance scammers may or pretend to be overseas, and request money to pay for visas, medical emergencies, and travel expenses to come visit the U. While using the Internet is a great skill at any age, the slower speed of adoption among some older people makes them easier targets for automated Internet scams that are ubiquitous on the web and email programs.

It can be helpful to continue to regularly familiarize yourself with online safety resources. Before making investments or online payments, be sure that you have confirmed that the organization is a legitimate business by asking for information about the company and checking that they are registered with the Better Business Bureau. There are also a number of apps you can install in your phone that help identify fraudulent telemarketers. Never give out your personal information to a stranger requesting it by phone or email, and if you do encounter someone requesting that information, hang up the phone or delete the email.

Avoid making quick decisions about an offer or sales promotion; instead always take a little extra time to think it through and evaluate its legitimacy. Contact a trusted friend or family member and describe what happened.

They will be able to help you take the right steps to get yourself protected and stop additional fraud from occurring. It is also important that you immediately get in touch with your local law enforcement and your bank.

Unfortunately, there are people out there who try to take advantage of seniors. Knowing the warning signs and red flags can make all the difference. Scammers tend to target seniors with all types of scams, often taking advantage of their isolation, ease of trust, higher savings, and lack of tech savvy, among other things. Realizing that enforcement authorities state that the best defense against scams is increased awareness of them, Living Branches provides regular Safety Minute presentations on the latest scams to residents at periodic resident meetings.

Hang up or do NOT return that message or call! It is a scam. We value your privacy. By clicking, you agree to the terms and conditions of our privacy policy and agree to be called, in response to your inquiry, by a Senior Living Advisor using our automatic telephone dialing system.

Financial Well-Being May 31, Comments. Tax Fraud While stolen Social Security Numbers can be used for a host of crimes, one common way scammers use them is to unlawfully claim tax returns for themselves.

Investment Schemes Because seniors are more likely to have a pot of retirement money or other savings, con artists often target them with phony investments that promise a big return.

Telemarketing Schemes Seniors were raised in an era that valued politeness and good manners, but this makes them more vulnerable to fraud. The Pigeon Drop One of the oldest tricks in the book, the pigeon drop, can be done on the phone, in person or online.

The Family Member in Need In this cruel scam, a con artist convinces their victim to wire money to help a family member who has had an accident and is in the hospital. The Grandparent Scam This is yet another scam in which a criminal pretends to be a family member in need. Take time to research whether companies, offers and unexpected debts are legitimate.

Have a loved one help you. If a caller tells you to act immediately or does not give you time to research a company, they are probably a con artist. Be wary of unsolicited emails and phone calls from companies and people. Be careful of unusual emails or messages from family members.