At Senior Safe and Sound, our goal is to keep families informed about the risk of elder abuse and neglect. We have spoken about financial fraud previously, but we want to revisit it as a reminder to stay vigilant in protecting your loved ones. Scammers notoriously target aging adults. This can lead to devastating financial losses of the person’s retirement accounts.
Minimizing the Risk of Senior Financial Fraud
Here are four practical tips to keep top-of-mind:
- Leverage Voicemail: Encourage aging adults to always let the phone ring through to voicemail. This is especially critical if they don’t recognize the number. Make sure their phone is programmed with the phone numbers of family members and care support so they can see who is calling. If an unknown caller rings through, the person should not pick up the phone call.
- Implement Technology: Scammers are using technology more than ever. But the use of technology doesn’t mean that a person will fall victim to fraud. Instead, outsmart the scammers by using technology to your advantage. For example, consider signing up for email or text alerts about transaction activity in the person’s bank account.
- Digital Hygiene: In the same way that a home needs to be cleaned regularly, it is also important to be diligent about keeping your family member’s computer clean. Good digital hygiene includes software updates for security programs, as well as detecting and removing any potential threats.
- Current News: Always stay up-to-date so you can keep your loved one informed about the latest scams. Pay attention to the news and trusted sources of information in order to know about current threats that could compromise financial safety.
Also, read through some of our past articles about safety tips for avoiding different types of financial fraud such as natural disaster scams, Medicare manipulation, IRS scams, and more.
Check our blog at Senior Safe and Sound often, because we share ongoing tips about avoiding the latest scams and abuse situations. If you have questions, don’t hesitate to contact us by email at info@SeniorSafeAndSound.org or call 858-480-7551.
This information is intended to inform the public at large about this important issue. It is not intended to serve as legal or medical advice.