Scammers are always setting trips for the unwary, but they tend to especially take advantage of disasters to catch their victims off guard. Being extra vigilant as we experience the current pandemic is important. Seniors are very often the targets of scams, so here are some tips to keep in mind to help seniors keep their finances safe. If you have seniors in your family, make sure they’re aware of the dangers and how they can reduce their chances of becoming a victim.
1. Use Caller ID
Take advantage of caller ID and don’t answer any call that comes from a number you don't recognize. If the call is important, they will leave a message, and you will be able to determine if it's someone you should really speak with. Scammers may still leave messages, but at least you won't have to deal with them on the spot, and you’ll have time to realize it’s a scam.
2. Use direct deposit
If possible, set up direct deposit for any regular payments you receive, including Social Security and any retirement and annuity disbursements. This will prevent the need for paper checks, which scammers may be able to obtain and use for check fraud. Direct deposit keeps the money with the bank as soon as it is available to you and is a more secure way of getting your funds.
3. Watch for phishing emails
Beware of scam emails that look like they come from legitimate sources. Keep an eye on the sender’s email address – is it misspelled, for example: sales@Ammazon.com or customerservice@micrsoftcom? Also examine the URLs for any links within the email. They may not point to the company's actual site, instead directing you to a fake site that may try to capture your personal information or – worse yet – upload a virus or other malware onto your computer. If you're unsure about the sender or the link, visit the company's site yourself and navigate from there rather than clicking a link within the email.
4. Resist calls for urgency
If a caller claiming to be from a business organization tries to pressure you to act quickly to take advantage of savings or avoid penalties, this should raise a red flag. This is a common scam tactic designed to get you to hand over your money without taking too long to think it over.
5.Think twice before sharing accounts
Sharing a bank account with a family member can be convenient, especially for a senior who doesn’t drive or can’t get out of the house very often. However, it can sometimes lead to seniors being taken advantage of.
The National Council on Aging says, "Over 90% of all reported elder abuse is committed by the older person’s own family members, most often their adult children, followed by grandchildren, nieces and nephews, and others. Common tactics include depleting a joint checking account, promising but not delivering care in exchange for money or property, outright theft, and other forms of abuse, including physical abuse, threats, intimidation, and neglect of basic care needs."1
6. Look for the "HTTPS"
As you navigate the Internet, look for an "https" in the address bar, as opposed to an "http". This means the website has an important layer of security, and you should not give a site your information if you don't see that "s".
7. Shred your papers
Make sure to shred any documents with sensitive information before disposing of them. This includes checks and anything with bank account information or your Social Security number. Scammers aren't above going through trash to find this type of information, so don't make it easy for them.
8. Don't give out information over the phone
If you're talking to someone on the phone claiming to be with a business, a bank, or a government agency and they are asking you for personal information of any kind, politely decline and end the call. This is especially true if you didn't initiate the call yourself.
9. Don't give money or information to solicitors
The same thing goes to people who show up at your door. While solicitors are often from legit businesses or organizations, this is also a prime way that scammers prey upon seniors. They may try to sell you home-related services or other products and services. Politely decline without giving them any information and certainly don't pay them up front for services they promise to perform.
10. Research companies before doing business with them
Make it a general rule to research any company before you do business with them. Scams are sometimes hard to spot, so make sure you know as much as possible before volunteering your money to a business you are unfamiliar with. If in doubt, check with your local Better Business Bureau or look for online reviews.
As a senior, you are unfortunately a likely target of scammers. Equip yourself with the knowledge and awareness you need to help you avoid becoming a victim.
1.https://www.ncoa.org/economic-security/money-management/scams-security/protection-from-scams/