Financial scams are one of the most insidious forms of senior abuse. In order to prevent it, one needs to understand how common scams and fraud schemes work, & what makes the elderly vulnerable to them. What’s also important is a healthy dose of vigilance & a certain degree of know-how.
With an increasing number of seniors getting online and the criminals being aware of it, the possibility of financial scams is quite high. As it doesn’t take a huge investment to be a cyber crook, there are perpetrators all around the world financially exploiting seniors in different ways due to the latter’s memory loss & cognitive decline.
Fraudsters target seniors as they are more trusting than younger individuals, often lonely, and always willing to listen. Fraud schemes against them are usually performed over the telephone, door-to-door, or through advertisements. Seniors are prime targets to schemes related to sweepstakes or contests, credit cards, health products, home improvements, investments, banking, equity skimming, and insurance.
As a family member of a senior living independently, if you wonder what can be done to protect them from such scams, here are tips that may help –
- Get more involved with your loved one’s financial decisions.
- Ask them not to give out their personal information, like credit card details, banking information, social security number, etc. with anyone.
- Tell them not to sign any business deal with anyone who doesn’t provide written information about their company.
- Ask them about the phone calls they’ve received & check their mail box.
- If possible, try to visit them as often as possible so you know how they are doing.
By keeping these tips in mind, you can make sure that your loved one doesn’t fall prey to any financial scams. If they experiencing memory loss or cognitive decline due to aging or other health issues, hiring an in-home caregiver can be beneficial for them. At Helping Hand Nursing Services, we have a team of licensed caregivers specializing in memory care in Lakeland, Florida. To find out how we can assist your loved one with their care needs, reach out to us today @ (863) 616-1888!
helpinghandnursingservices 