Unfortunately, scams that target the elderly are all too common. Many scammers are looking to take advantage of elderly individuals: people who are vulnerable or more susceptible to their wiles. By understanding the potential scams out there, you can help protect the elderly people in your life from being victims. The Grandparent Scam In the grandparent scam, a scammer will call and pretend to be a relative. They’ll claim that they’re in trouble in some way, often financially, and that they need immediate assistance. Many scammers will pretend to be a beloved grandchild, begging the grandparent, “Don’t tell Mom and Dad! They’ll be so disappointed in me if they know.” Sometimes, they’ll claim to be in jail and need money for bail; other times, it may be a case of needing money wired to them immediately while they’re traveling. Protecting Your Loved One: Encourage your loved one to always verify information from callers claiming to be relatives. Tell them to insist that they’ll call them back, then check out the story with other relatives. Remind them that none of their grandchildren will ask them to keep a secret if they’re in trouble. The Medicare Card ID Theft Scam Medicare offers a huge advantage for many seniors: free or low-cost medical care. Scammers are well aware of the value of Medicare, and they’ll try to get their hands on seniors’ information. They may claim to be from Medicare or to be from a doctor’s office that needs that information in order to process payment. Protecting Your Loved One: Personal information, including social security numbers, banking information, or Medicare ID information, should never be given over the phone. If you do receive a call from someone claiming to be from an official agency, keep in mind that they’re unlikely to request information from your loved one. Remind them to keep information private and verify who they’re speaking to before handing over any information. The Lottery Scam “Congratulations! You’ve just won…” The lottery. A chance to go on a free cruise. An incredible prize package worth tens of thousands of dollars. There’s just one little catch: before you can claim your prize, you’ll need to make a small deposit, purchase a gift card, or take another key step. Of course, the reality is that there is no prize. Once the deposit is made, the “prize” will disappear, and your loved one may not be able to get their money back. Protecting Your Loved One: Remind your loved one that if they’ve won a legitimate prize, they won’t be asked to provide banking information over the phone–and they certainly won’t be required to pay for the prize. They should also keep in mind that they can’t possibly win something that they haven’t entered. Utility Fraud Many scammers pretend to be from the utility company: water, power, gas, or electricity. They’ll call up warning seniors that their utility is about to be cut off for nonpayment, sending them into a panic. In most cases, seniors will quickly offer payment to avoid this style of retribution. Protecting Your Loved One: Remember, utility companies don’t call to get payment–especially not as a first line of approach. Instead, they’ll typically send letters letting your loved one know that payments are behind. Have them check online or call the utility company directly to verify any problems with payment, rather than simply issuing an immediate payment over the phone. Counterfeit Medications As your loved one ages, the cost of medications increases–and many seniors, as a result, turn to online pharmacies, many of which are based outside of America. There are a lot of counterfeit products out there, including anti-aging products that claim to be able to slow the symptoms of aging. Protecting Your Loved One: Keep an eye on the medications that your loved one is taking. Make sure that they aren’t falling victim to any anti-aging scams or other key problems. Often, protection is as simple as ensuring that their medications are coming from a reputable source. Reverse Mortgage Scams A reverse mortgage will allow your loved one to take out some of the equity they’ve build in their home, allowing them to access funds that they need for medical care, home repairs, and other key things in their lives. Unfortunately, many scammers will simply convince your loved one to transfer home ownership to them without providing them with the funds they need. Protecting Your Loved One: Reverse mortgages can be a very valuable and useful tool for seniors. However, like so many other things, shouldn’t be arranged over the phone. If this is something your loved one wants or needs, encourage them to ask friends, family or trusted advisors for referrals and arrange to visit a physical location instead. Internet Fraud You’re probably familiar with this one. A scammer calls up, insisting that a computer in the home is simply filled with viruses. The scammer will offer free security, a diagnosis, and a repair over the phone. All they need is remote access to the computer–which will then be infected with a slew of viruses. Protecting Your Loved One: Remember, if you haven’t called for tech support, they aren’t going to call you–and Windows isn’t monitoring your machine. Let your loved one know where to receive real tech support and how to deal with it when there is something wrong with their computer. Contractor Scams Over time, repairs do need to be made to your loved one’s home. So-called contractors often take advantage of the elderly, offering services and taking payment, then never showing up to do the work. Not only is your loved one left without the repairs done, they’ve been cheated out of the repairs that actually needed to be performed! Protecting Your Loved One: Always research contractors before hiring them to do work. Make sure that your loved one is protected by a contract. If your loved one is struggling with dementia or no longer seems able to handle what’s going on around them, our Elderlink Home Care,