Common Scams Aimed at Seniors

 

Older adults are often susceptible to these common financial scams.

Older adults are often susceptible to these common financial scams.

The seniors in our communities have given so much for so long. They held jobs to serve families, many of them served in combat and they have given much of their time, effort and money to helping build a better place to live. However, some criminals have created scams aimed at this great generation.

Seniors make easy targets for many reasons. They were brought up to be polite, w trait many criminals use against them. Seniors also may not know who to report fraud to, and if they do, they often have issues recalling names and events.

In order to help the seniors in our communities, we have compiled a list of some of the most common scams. Read through them, then share them with your family and friends.

Fake IRS scam

In this scam, a person calls you and claims to be an agent from the IRS. They threaten jail time, fines and lawsuits if “unpaid taxes” aren’t dealt with.

Health care scam

Scammers call claiming they work with Medicare or a your health insurance company to try and gain access to your personal information. They often call back claiming they have talked to a son or daughter and that it is okay to provide them with Social Security numbers, driver’s license numbers or personal information.

Unprincipled financial advisers

We’ve all heard the horror stories with characters like Bernie Madoff. It’s important to research investment professionals and pay attention to the money going into and out of your account.

Great grandchild scam

You will get a call that starts with, “Hi Grandma, do you know this is?” They wait for you to say a name, then search the name on the Internet while on the phone. They then proceed to ask for money.

Prescription and anti-aging drug scam

Seniors are far more susceptible to these type of scams. As the price of prescription drugs continues to increase, many seniors look online to find cheaper medicine. However, these are not always legitimate, or the scammers simply don’t deliver the drugs.

Obituary scans

Con artists will read the obituary pages of the local newspaper and call the deceased relative’s family. They demand outstanding debts, “recent purchases” or other items that require immediate payment.

Funeral and cemetery plot scams

Financial advisers aren’t the only ones who can be dishonest. Funeral homes have also been caught selling expensive caskets to those who don’t need them and adding unnecessary charges to bills.

By sharing these common scams, you can help create awareness and prevent fraud from happening. If you have any questions about these or other common scams, please contact Titonka Savings Bank today.

 

Titonka Savings Bank, Member FDIC