It seems like hardly a day passes that we don’t hear another story about a senior losing their life savings to a scammer. From phone calls requesting money to endless emails with “Click here” enticements, senior scams are persistent. No matter where you live, or how old you are, fraud can happen in an instant.
Why target seniors? Older citizens are usually attractive to scammers due to their trusting and polite nature as well as their financial status. Savings, home ownership, and the good credit of senior citizens add up to almost $3 billion in losses annually. Additionally, seniors are less likely to report that they have been scammed because they don’t want their family to know and lose confidence in their ability to be independent.
How much do we really know about scams? What’s trending in senior scams right now? How can we tell if an email or website is safe or if we are being tricked? All of these are valid questions and learning about senior scams is the first step toward protecting ourselves from would-be scammers.
5 Trending Senior Scams
- Social Security Scams
- Romance Scams
- Tech Support or Internet Fraud
- Home Repair
- Grandparent Scam
1. Protect your social security number always.
Scammers are always looking for ways to obtain your social security number. That number plus a few other of your personal details – like your date of birth and mother’s maiden name – open a world of fraudulent activity options. Your social security number is attached to all of your financial information, allowing the scammer to access your financial details as well as open new lines of credit.
It is important to note that a true representative of the Social Security Administration (or IRS or other government agency) will not call and ask for your social security number. Additionally, they will not send an email asking for your social security number. On the off chance you are conducting business with a true representative of a government agency, they will provide a contact phone number and extension.
How to Protect Yourself: If a caller asks for your social security, ask for their phone number so you can call them back. Scammers are often calling off “spoofed” numbers that can’t be traced or called back.
2. If the romance heats up quickly, cool down communication when talk turns to money.
An increasing number of seniors are single and ready to mingle. Their use of social media and dating apps has increased giving scammers additional platforms to find potential targets. In addition to being increasingly tech-savvy, the new generation of seniors is also increasingly single – taking bold steps into life after divorce or the loss of a spouse.
Sweetheart Scams for Money
Health emergency
Travel expenses to meet senior
Ask senior to deposit a check
Request senior to ship a package
Fake profiles are fairly easy to create. Easy access to a senior’s social media page provides the scammer with all they need to know about interests, family life, and hobbies. Striking up a conversation is easy and very quickly the talk turns to financial needs for an emergency or travel to meet in person. An early red flag? A request to keep the relationship secret “while we get to know each other better.”
How to Protect Yourself: Trust your gut and talk to friends and family about any online relationships. Jumping back into the dating game is exciting and scary; it feels good to have the attention of someone special. Don’t keep secrets and keep money off the table until you learn more about the person and verify their identity.
3. Fraudulent emails, websites, and fake online stores lure seniors into handing over money.
Websites that appear to be legitimate trick the senior into disclosing personal information, such as banking log ins. Emails claiming a purchase has already been made and “click here” to verify the shipping address bait the senior who believes there has been an error – and give all the identifying information they need to “cancel the order.” Fake online stores and charities post fake customer testimonials and emotional appeals with false claims to trick seniors into giving money.
Common Internet Scams
These scams also come in the form of a text. A current text scam involves receiving a refund from the IRS. The first red flag here is that the IRS will not contact taxpayers by text – they send letters through the U.S. Postal Service. Additional inspection will reveal that the link they want you to click on is for a deceptive site and will likely infect your device with a virus. If your phone includes the option to “Delete and Report as Junk” – do just that.
Texts can also appear to be from people you know, requesting personal information or financial assistance. If you receive a text message from someone you know that seems unusual, call the person directly. Additionally, medical and legal professionals will not text you for personal or financial information.
How to Protect Yourself: Look closely at the email or website page address. Often the website name is very close to the real one but misspelled. Fraudsters may change the URL name slightly in a way that is not noticeable at a quick glance. And most importantly, be aware of whom you have ordered from, and don’t click on links in emails verifying purchases you don’t recognize.
4. Don’t hire people who show up on your doorstep and offer home repair services.
Florida is rife with scammers who seek out older homeowners and promise fast, cheap repairs. Whether it is to assist with damage after a storm or because they are “already working in the neighborhood and noticed the need,” crooked contractors will often ask for money upfront and disappear. A scammer will also quote a job at one price and then turn a simple repair into a disaster that needs to be fixed – but only when you come up with more money.
Home repair scammers make limited time offers, pressuring an immediate decision to take advantage of a discount. They may offer a lower price because they already have the materials you need, signaling they overbilled a previous customer or didn’t finish work elsewhere. If they show up at your door offering an amazing deal, remind yourself – if they were good, they wouldn’t be roaming around neighborhoods offering discounts.
How to Protect Yourself: Get references from friends and family before letting anyone work on your home. Require a contract in writing that includes a description of the work to be done, start and completion dates, and when payments will be made. Don’t pay in full before the job has been completed and the job site has been completely cleaned up.
5. The Grandparent Scam hits more than the pocketbook – it aims for the heart.
Imagine receiving a call from a child – “Hi, Grandma – do you know who this is?” – and as soon as you identify them by name (“Hi, is this Eric?”), the scammer immediately tells a tale of desperation, needing your money immediately, posing as your grandchild that you identified as Eric. “I’ve been in a car accident. If I don’t pay $12,000 for bail, they are going to put me in jail. They will send someone to pick up the money. Don’t tell my mom and dad!”
The next conversation is “the attorney” for your grandson – “the other person in the car accident was pregnant and the baby died. The judge raised the bail to $25,000 for a charge of vehicular manslaughter. We will send someone to pick up the money.” Next, “the prosecutor” calls and asks for more money to avoid prison. And so it goes until finally, the grandparent gets suspicious and calls a family member – or the grandchild, directly – and learns that they have been conned.
How to Protect Yourself: While it may be easy to get caught up in the emotion of the call, press the caller for details or to answer a few questions only the real grandchild would know. Verify the story immediately after you hang up – call the grandchild’s parents or other relatives before getting together any money. And never wire money to anyone under suspicious conditions – this is the equivalent of cash and nearly impossible to recover or trace.
How Can I Learn More About Senior Scams Near Me?
AARP offers a Scam Tracking Map that identifies current scams in your area by zip code. Easily report any suspicious activity via this website or by calling your local police department. If you have been scammed, don’t be embarrassed to reach out for help and report what happened.
Older adults can add a layer of protection to their financial future with open lines of communication to their trusted adult children and an Elder Law Attorney. A solid estate plan can help protect a senior, allowing a trusted power of attorney or other appointed advocate to have access to banking information with the authority to react if they find exploitation has occurred through a senior scam. Your Elder Law Attorney will never contact you via text or email to request personal information and can be your first call should you suspect you’ve been impacted by a scammer.
Elder fraud and exploitation through senior scams are common in Florida. Protect yourself and gain peace of mind with an Elder Law Attorney who advocates for your well-being through your later years. Learn more about Elder Law Attorneys and how they help seniors preserve their legacy in the Legal and Financial Section of our Blog.