How to Protect Your Senior From Financial Abuse

Unfortunately, scammers prey on elderly individuals as they unleash various types of cons. However, family members and friends can step in and help protect their seniors from elder abuse. When it comes to preventing elder abuse, senior care professionals recommend educating your elderly loved one about scams, while talking with them about the warning signs of these scams. 

Why do elderly individuals fall for scams?

There is a number of different reasons why an older individual may fall for a scam. In many cases, it’s because they are home all day with time on their hands. Scammers pick up on loneliness or boredom and try to become a sympathetic ear for that senior. Over time, they develop a rapport with them, and eventually become able to swindle them. 

To protect your elderly loved one in this situation, eldercare professionals advise telling seniors that it is not rude to hang up on a telemarketer or other unknown person who calls and begins to pressure them. They should also learn about offers that seem too good to be true. Many seniors fall victim to scams that arrive via junk mail. Remind them that if an offer seems absolutely perfect, chances are that there’s a catch. 

Alert them to the dangers of programs that promise easy money

Seniors on a fixed income may worry about keeping up with inflation, and “get rich quick” schemes may seem highly appealing to them. It’s important to talk with your elderly loved one about these scams, and remind them that any offer that promises instant cash or large amounts of wealth is not real. Avoid e-mails or phone calls from people who promise such riches, and never give personal information to these people. This includes full name, address, or any sort of financial information. Scammers are clever and can use even small bits of personal information to rope seniors in.

If you believe that your elderly loved one has fallen victim to a scam, start by having an honest conversation with them so you can gather evidence. From there, take these details to the proper authorities. Remember that many people have no shame in taking advantage of seniors, so make sure that your elderly loved ones are protected.