Our elderly community is one of the most vulnerable groups in our society and with clever and constant new forms of communication its become easier for scammers to claim one more victim. Here are the top 5 Senior Scams.
Internet/ E-mail fraud
The internet has become a big part of our everyday lives and with having the ability of hiding behind a computer screen, it’s no wonder these type of scams have been a popular choice for thieves. One prime example is counterfeit websites. Many seniors are vulnerable to visiting the wrong website and downloading malware on their PC. This can lead to all their personal information ready to be snatched by scammers.
Common e-mail scams typically play-out like so:
The victim receives an e-mail that appears to come from a large and reputable company asking them to “update” or “verify” their personal information, when in fact the scammer will use the victims’ information to gain access to bank accounts and online shopping accounts.
The victim may receive a message from an e-mail address similar to that of a friend or family member, claiming they are in need of help and may ask that the victim to purchase gift cards for them or wire funds. Often times, the victim is unaware that they have been scammed until the damage is already done.
Medicare/Health Insurance Scams
As seniors begin to start the process of enrolling for Medicare, they may rely on “professionals” for assistance. In these types of scams, offenders may pose as a Medicare representative to get their victim to give them their personal information, or they will provide bogus services for elderly people at makeshift mobile clinics, then use the personal information they provide to bill Medicare and pocket the money.
Investments Scams
These types of scams have been a successful way to take advantage of seniors, who by now have started planning for retirement and managing their savings. Investment schemes have been targeting seniors looking to safeguard their cash for their later years. A most common one would be a pyramid scheme, where the senior is asked to invest some of their life savings with promises of doubling their investments. Unfortunately, there is no such thing as quick and easy money, and the scam artist will disappear as soon as they have their victim’s money in-hand.
Homeowner Scams
Many seniors’ most valuable asset is their home. With a quick title search on the web, a scammer can retrieve information and call their victim claiming they represent the local government (County Treasurer’s Office, City Hall, etc.) and that the authorities are headed their victim’s way. The scammer then proceeds to tell the resident that their property will be sold or seized unless property taxes are immediately paid over the phone. The callers usually pressure the victims to take immediate action. Unfortunately, many seniors will cave under the pressure and fear of losing their homes and end up losing their savings.
Funeral Scams
Imagine having a total stranger approach you at your weakest point and demand you give them money to pay a bogus debt. In this approach, scammers go as far as to attending funeral services and taking advantage of the grieving widow or widower, claiming the dearly departed has outstanding debts due immediately. Scammers truly have no limits when it comes to getting what they want.
If you believe you have been scammed, please report it to the attorney general’s office or call us for help. 312-878-0155.
