By Andrea Gibbs, Content Manager at SpringHive Web Agency
It is much more common for elderly individuals to be taken advantage of. Scammers prey on this demographic because they often have less access to technology, money, and information. Unfortunately, the consequences can be devastating for seniors. It is essential to stay vigilant to protect yourself from scams and frauds that target the elderly population. Having a good feeling about a particular situation or person may make an elderly individual more likely to be taken advantage of. It is essential to develop a healthy skepticism and know your rights.
This guide will discuss tips that can help you avoid fraud and scams. You will also learn some general information about scams that affect elderly individuals.
Scams Targeting the Elderly
Scams targeting the elderly are a problem every country faces now. The elderly are often targets because they tend to be more trusting than younger people and may have more money.
They can also be less tech-savvy, which makes them more likely to fall for scams that involve email, phone calls, and other forms of communication they're not used to using frequently.
How to Avoid Being Scammed
For elderly individuals, especially those who live on their own, knowing the warning signs of scams could save them a great deal of money and heartache.
The following are ways to avoid being scammed as an elderly individual:
1. AVOID UNSOLICITED TELEPHONE CALLS
Many people just trying to make a sale will call seniors on the telephone without their knowledge. They may use the older adult's name, ask for money or personal information, or ask them to send cash through the mail. If a caller asks you to fill out a form or pay with a wire transfer, that is an unwanted solicitation phone call.
2. EVALUATE THE SITUATION
Elderly individuals often target legitimate frauds, such as lottery and investment scams. If you receive an unsolicited phone call or email that claims to be sweepstakes, lottery win, inheritance, or another type of offer, it is likely a scam. Anytime you are asked to pay an upfront fee to collect money in return for something, it is a fraud.
3. KNOW YOUR RIGHTS
You have certain rights as an elderly individual. You can refuse to provide personal information such as your Social Security number, bank account number, or even your address if you do not wish to disclose it. You also have the right to cancel any check that a company issues.
4. KNOW HOW TO USE YOUR CREDIT CARD
For additional protection, seniors can request a new credit card within 60 days of receiving the one that was stolen and report it stolen to their banks at once. They can also ask for the recent account number of their account. Finally, whoever has your credit card should disclose the card's serial number and other personal information to you to help prevent further fraud.
5. CHECK YOUR BANK ACCOUNT STATEMENTS FREQUENTLY
The statements for your account can be viewed online with a quick search. Checking your monthly account will allow you to spot any unauthorized transactions and alert the bank of the potential fraud before it happens.
6. TAKE ACTION IF YOU HAVE BEEN A VICTIM OF FRAUD OR SCAM
If you have been a fraud or scam victim, it is important to take action quickly. Immediately notify the police and ensure you keep copies of any documents pertaining to the fraud. It is also possible to call the Federal Trade Commission's (FTC) consumer hotline to report the scam.
Final Thought
There are too many scams to mention. However, the following gives a general idea of some of the most common ones.
Protect yourself and your loved ones from fraud by staying alert, knowing your rights and the warning signs of scams. Maintain a strong defense against cybercriminals and keep an eye on your finances. Keep vigilant!
Author bio
Andrea Gibbs is the Content Manager at SpringHive Web Agency, a company that offers web design services, maintenance, and Internet marketing. She specializes in content marketing, social media, and SEO. She also serves as a blog contributor at Serenity Senior Care. She's an avid personal development enthusiast and an expert in the field of health and fitness. When she's not writing, she can be found running hills or hiking trails, rooting for her favorite team (the Pittsburgh Steelers), or watching a good Netflix series.
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