Scammers often target seniors due to their perceived truthfulness, financial stability and lack of technical knowledge. We look at 15 common scams targeting older adults and how you can look after your loved ones:
Telemarketing and Robocalls
In telemarketing scams, fraudsters pose as government officials, utility companies, or even grandchildren to pressure victims into spending money. You should tell the seniors in your life to only share personal information over the phone if they can verify the number is from a legitimate source. It’s always best to hang-up and call the official number of the company they claim to be calling from.
Grandparent Scam
In this fraud, con artists pose as grandparents in need of immediate financial support. Elderly victims of scams are usually contacted by phone or text, where the scammer presses the grandparent to send money right away via wire transfers or difficult-to-recover gift cards. Once more, before sending any money, elders should ideally confirm the narrative with a family member over the phone.
Medicare/Social Security Scam
Medicare scams see people threaten to suspend benefits or steal personal information unless money is exchanged. It’s common for older people to be targeted by lookalike websites designed to steal login credentials or personal information under the guise of managing benefits. Personal information regarding Medicare or Social Security should never be offered over the phone or email, so seniors should contact the official agencies directly if concerned.
Investment Scams
Scammers often target elderly people looking for retirement income by offering big returns at low risk. These ‘investments’ entice investors with inflated profits and occasionally use funds from new investors to settle debts from previous ones. Seniors should always investigate propositions carefully with a financial counselor and be cautious of unsolicited investment offers.
Fake Charities
Charity scammers pose as reputable organizations in order to extort donations from elderly, who are frequently the ones with extra money. Con artists take advantage of seniors’ kindness by fabricating crises to demand money. If elders would want to make a charitable donation, it is crucial that they choose reputable charities that allow for prior research.
Technology-Based Scams
Emails mimicking actual companies or organizations trick victims into clicking malicious links or divulging personal information. These scams often target seniors who may be less tech savvy so are prone to clicking on suspicious links. You should teach seniors in your life to be cautious of suspicious emails by checking sender addresses and never clicking on suspicious links or attachments.
Online Shopping Scams
Fake websites offer deals on popular products but steal payment information or deliver counterfeit goods. These sites lure people in by offering offers that are significantly cheaper than other sites. Seniors should shop on trusted websites, use secure payment methods and beware of deals that seem too good to be true.
Home Repair Scams
Home repair scams involve fraudsters offering unsolicited repairs at inflated prices, often targeting seniors needing help to assess the actual cost or quality of work. You should help a senior in your life get multiple quotes from licensed contractors before accepting any home repair services.
Funeral and Cemetery Scams
Funeral scammers are the lowest of the low as they have no shame in exploiting people with emotional vulnerabilities during times of grief. They will overcharge for funeral services or sell unnecessary plots or monuments to grieving families and some will even sell fake funerals altogether. It’s important to plan funeral arrangements with trusted family members and carefully research options before deciding under pressure.
Prize and Lottery Scams
Unfortunately, prize and lottery scams are common, preying on people’s excitement and desire to win big. Scammers notify victims of fake winnings, requiring upfront fees or personal information to claim the prize but you should never need to pay to claim a legitimate prize.
Timeshare Scams
Eager seniors looking to invest in a vacation home often fall prey to timeshare scammers. These scammers offer to buy or sell timeshares at unrealistic prices, often pressuring seniors into quick decisions. They promise to quickly and easily sell your unwanted timeshare at a high price, charging upfront fees or manipulating the process. You can help a senior thoroughly research timeshare offers, consult legal counsel and to avoid high-pressure sales tactics.
Pet Scams
Online pet scams involve selling sick or nonexistent pets, manipulating emotions, and scamming money for deposits or shipping. People should only adopt pets from reputable shelters or breeders and should avoid online transactions for animals. It’s always best to meet pets in person before agreeing to adopt.
Relationship Scams
Relationship scams, also known as romance scams, have unfortunately become increasingly common with older adults often targeted due to their desire for companionship. These scams can have devastating consequences, causing emotional distress, financial loss, and even identity theft.
Credit Card Scams
Scammers use stolen card details to make online purchases without your physical card. Help seniors monitor their monthly statements and report any suspicious transactions immediately.
Social Security Scams
Scammers often pose as Social Security Administration (SSA) officials, using phone calls, emails, texts or even in-person visits. They may use official-sounding names, badges or threats to sound legitimate. It’s important to stress to seniors that they should contact the SSA directly through their official channels to verify communication.
Home Improvement Scams
Scammers will approach seniors with unsolicited offers for home repairs or improvements, like roof repairs, driveway paving or window replacements. They exploit concerns about safety and potential damage, pressuring seniors into immediate decisions without giving them time to consider their options. Help seniors to seek out maintenance specialists yourself and get several quotes for any work you need to carry out
5 Canadian Provinces Predicted to Thrive in the Next Economic Boom
To thrive in an economic boom, a region needs good infrastructure, talented people, government policies that support growth and uplift the economy, and a culture of entrepreneurship. Often, the demography can also be a significant indicator of a region’s economy in the next few years. Although reports may vary on which regions will perform the best economically, certain regions come up on every list. Here are 5 Canadian provinces predicted to thrive in the next economic boom:
5 Canadian Provinces Predicted to Thrive in the Next Economic Boom
