It’s sad but true that senior scam tactics have increased because of COVID-19. As a result, more and more seniors have become isolated as community centers have reduced staff, hours, and activities; and their friends and families have been unable to see them as they did before the pandemic.
Scammers don’t just target seniors because of age and isolation. It is believed that seniors have significant amounts of money sitting in their bank and investment accounts.
Unfortunately, financial scams often go unreported or can be difficult to prosecute. They’re devastating to many seniors, leaving them in a very vulnerable position financially and with little time to recoup their losses.
Hence, we believe that it’s crucial to have a perfect guard against criminals. Therefore, we have group seven senior scam tactics often used to defraud older adults.
Medicare fraud
Scammers pose as Medicare representatives to get older adults to give them their personal information, sometimes using it to bill Medicare for medical services and pocket the money.
Counterfeit prescription drugs
Because of the high cost of prescription drugs, many seniors go to the Internet to find better prices on medications. Unfortunately, not only do the victims pay money for something that won’t help treat a medical condition, the substances they receive can be unsafe and cause even more physical harm.
Funeral scams
Grieving seniors are vulnerable targets. Scammers read obituaries and attend the funeral service of a stranger to take advantage of the grieving spouse. They claim the deceased owed them money and try to extort money to settle the fake debt.
Fraudulent anti-aging products
In a society that emphasizes youth and beauty, many older adults feel the need to hide their age. As a result, they search for treatments and medications that will help them maintain a youthful appearance, putting them at increased risk of being scammed. And, bad batches of these bogus products have caused many people to suffer health consequences that are far more concerning than wrinkled skin.
Telemarketing
Because seniors make twice as many purchases over the phone than other adults, scammers frequently prey on them using fake telemarketing calls. Scammers trick lonely seniors into buying unnecessary things. This leads to sharing of the elderly’s personal information that is sold to other criminals.
Internet fraud
Even though seniors are heavy adopters of social media, they are easier targets for automated Internet scams because of their unfamiliarity with the web. Pop-up windows simulating virus-scanning software fools victims into either purchasing fake anti-virus programs or downloading an actual virus that gives scammers access to personal information on the senior’s computer.
Sweepstakes scams
Scammers inform their intended victims that they’ve won sweepstakes of some kind, and they’ll need to make a payment to release the prize money and cover things like fees or taxes on the prize. Seniors will sometimes receive a “winner’s check” that they can deposit into their bank account. However, scammers know that it will take the bank a few days to reject the bogus check. This process gives them time to plan their crime.
The staff and caregivers at Assisting Hands Home Care – Boston Northwest hope this information helps you or a senior loved one stay vigilant against these senior scam tactics. Our mission is to not only assist seniors with their physical well-being, but with their overall welfare.
If you are interested in learning more about our services or the areas we cover, such as Wellesley, Newton, Brookline, and many others, contact us today to schedule a free consultation. We’re here to help, and we look forward to visiting with you.
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