Scams involving money are common and can happen over the phone, via email, or in person. Sadly, scammers prey on the elderly because they are more generous and easily duped. Seniors often have limited savings and a fixed income, so they must be careful with their money.
According to the experts at Hevan Sent Home Care, the leading provider of in-home elderly care services, one of the most important things you can do is discuss with your aging parent about scams and how easy it is to fall for these scams. It happens to people of any age.
Here are some common scams to be aware of for you and your loved ones:
It can be troublesome because door-to-door sales representatives persuade seniors to purchase products, subscribe to non-existent subscriptions, and other such things. This can instantly lead to a loss of funds. Having a companion caregiver by your side can help you avoid becoming a victim of these types of scams.
Forgeries of lottery or free prize winnings.
Scammers call seniors and claim that they have won a lottery and that they need their bank account information to deposit the prize money. Tell your senior loved ones not to give out their account information over the phone or in person to anyone.
Fundraisers for bogus charities, disaster relief, etc.
While there are many legitimate donation sites that aid wonderful causes, there are also many deceitful schemes where scammers are simply looking to profit from a situation. It is critical to thoroughly screen any causes before making a donation to ensure that they are genuine.
Scammers use different techniques to defraud seniors and obtain their financial information. Aside from talking with your senior, it’s a good idea to set up some financial oversight, such as notifications when money is debited, a joint checking account, or financial power of attorney. It’s critical to reassure them that you’re concerned about their financial well-being rather than attempting to seize control of their finances. You want to make sure it’s well-managed so that it can support their future and that no one takes advantage of their savings. They can also consult with a financial advisor or planner.
In these situations, encourage your loved one to investigate thoroughly and ask questions. Tell them not to answer unfamiliar phone numbers or open the door for strangers. Before sending anything away or mailing a check, have them set aside any mail they receive that they are unsure about. A home care assistance provider can also help seniors organize through their mail, screen calls and texts, and make better decisions when confronted with a potential scam. To learn more about our in-home care services or to schedule a free consultation, get in touch with us at 603-459-8358.