When scammers look to steal information or money, they are looking to manipulate the most vulnerable people within our society. One group that is hit the hardest is our elderly population. According to a study done by the Federal Trade Commission in 2019, adults over the age of 80 have a median loss of $1,600 to scams. Elder abuse scams come in many different forms, but all result in detrimental harm to this susceptible group.

Grandparent Scam

As a grandparent, you always want to help your grandchildren in any way possible. Scammers feed on that love with the grandparent scam. The elderly victim will get a call and the person on the other end will initiate the conversation with, “hi grandma/grandpa, do you know who this is?” The victim will say their grandchild’s name in response. With just the grandchild’s name, the scammer takes on their fake identity without having to do any type of research on their mark. As the fake grandchild, they develop a story about an emergency and ask for immediate financial assistance. Due to the stress of the situation, the victim sends the money to the scammer.

To protect yourself in this situation, wait to send the money. Hang up the phone and call the grandchild from the saved number you have on your phone. This way you know you are contacting your actual family member and can figure out if they truly need your help.

Medicare/Health Insurance Scams

With elder abuse scams, making a false identity is a common manipulation tool. The Medicare/health insurance scam relies on taking the identity of a health representative. Perpetrators contact the victim over the phone or through an email and request personal information. The elderly victim doesn’t realize that the imposter is stealing their information. Also, scammers will provide fake services for elderly people at makeshift mobile clinics and charge Medicare to pocket the money.

The best way to protect yourself from this scam is to do some research on who is providing you with medical assistance. Plus, never hand over your personal information without ending the interaction and connecting with Medicare through a separate source.

Computer Tech Support Scams

Elderly abuse scams focus on this age group’s lack of technological knowledge from fake emails, texts, and phone calls. The computer tech support scam connects with the victim’s computer by sending a pop-up message or a blank screen. The messaging says the computer is compromised and to click here for help to fix it. Once clicked, the hacker has access to the device. Seniors that fall for this scam have lost an average of $500 each according to the FTC. A great way to avoid this is by not clicking on the odd messaging. Instead, go to a different source for a phone number to call tech support.

Romance Scams

Romance scams have caused seniors, ages 60 and over, to lose nearly $304 million in 2020 alone. This scam has become the leading cause of financial theft for all age groups. The scammers kindle a relationship with the senior through online dating portals. The fraudster then requests money for emergencies or to come to visit the victim. All the requests are false, and the money is going into the thief’s pocket. Victims lose so much money through this scam because the scammers will continue to ask for money until the victim stops sending money or worse runs out of money. Then, the culprit moves on to their next target.

When looking for love online, make sure to be wary of who you are speaking with. You never know when they might be looking to manipulate you. Keep money and love separate to better protect yourself.

Social Security Imposter Scam

A tool used in elder abuse scams is to make the situation urgent, so the mark does not take the time to think about what they are doing. With the Social security imposter scam, scammers call their victims pretending to be their social security representatives and tell the mark that their SSN has been suspended or connected to criminal activity. To reactivate the number, the victim has to confirm their number. Therefore, the scammer now has your social security number and steals your information.

Remember that true social security officers will not ask for your personal information over the phone. The only time this would be requested is if you initiated the interaction with the office.

In total, elder abuse scams are estimated to cost older adults $4.8 billion a year according to a study done in January 2022. The key way to bring this number down is to identify the warning signs before the problem gets out of hand. If you are uncomfortable with a situation and unsure of how to proceed, take a step back. Scammers rely on their victims being emotional and not thinking straight when it comes to their requests. You have the time to think about the request logically, do not let them rush you. Looking to report a scam in Palm Beach County? Go to Palm Beach Clerk to report it and get help if you need it. Plus, keep up to date on how to protect yourself from scams on our Stay Secure page!    

Source: Consumer Affairs, AARP