June is World Elder Abuse Awareness (WEAAD) Month! This month’s Scam Spotlight highlights all scams targeting older adults as a form of elder financial exploitation. In general, scammers often target people they perceive to be vulnerable, including older adults who are isolated or lonely, physically or mentally disabled or are unfamiliar with handling their own finances.
Scam artists often pose as trustworthy sources, including someone with law enforcement, the social security administration, or even their local bank. They can even pretend to be a friend or family member of the older adult. Financial scams perpetrated against older people include a broad range of conduct. Elder fraud could involve any or all of the following:
- Stealing the victim’s money or property
- Using undue influence and/or false pretenses to obtain access to money or property
- Utilizing technology to get personal or financial information, or
- Getting paid for care, products, or services and then not delivering them.
Elder fraud schemes can take a variety of forms, so keeping an eye out for warning signs is vital to protecting yourself from being the next scam victim. Please note these 10 warning signs of a scam directly from the Better Business Bureau:
- Never send money via gift card or wire transfer to someone you have never met face-to-face.
- Avoid clicking on links or opening attachments in unsolicited emails.
- Don’t believe everything you see.
- Double check your online purchase is secure before checking out.
- Use extreme caution when dealing with anyone you’ve met online.
- Never share personally identifiable information
- Resist the pressure to act immediately.
- Use secure and traceable transactions.
- Whenever possible, work with local businesses.
- Be cautious about what you share on social media.
