3 Steps to Take if a Parent Suffers a Financial Scam

Financial scammers look for targets who have money and can be easily tricked. Seniors often fit these scammers’ criteria.  Therefore, it is essential that families remain vigilant about protecting the elderly. It’s not only important to stay current about the latest trends in financial scams; it’s also essential to plan in advance how to address a scam should one occur.

Here are three steps to help you get started:

Step #1: Notify the Bank

If a bank account or credit card has been compromised, the first step should be to reach out to the bank or financial institution involved.  Account numbers can be changed to prevent additional funds from being stolen. Most banks have fraud departments that can provide guidance and support.

Step #2: Keep Family Members Informed

Reach out to other family members who assist in the senior’s caregiving. Explain the situation and ask for help in preventing future occurrences.  It’s also important to talk to the senior about what took place. Sharing information reduces the likelihood of encountering the same problem again.

Step #3: Watch the Mail and Phone

Scammers often communicate by phone and mail. Monitor the letters and phone calls that are directed to your loved one. Family members should assist the elderly person with sorting the mail and scrutinizing phone activity. Consider proactive steps such as call blocking or caller ID if the person is using a landline.

With a little bit of work, you can better protect your loved ones from predators. For more information about preventing fraud and elder abuse, contact us at any time. Email info@SeniorSafeAndSound.org or call 858-480-7551. Senior Safe and Sound.

This information is intended to inform the public at large about this important issue. It is not intended to serve as legal advice.

By |2019-06-13T09:25:42-07:00June 19th, 2019|