3 Worst Scams That Prey on the Elderly
There are scammers everywhere these days, and they are constantly finding new ways to take advantage of the unwary. Among the biggest targets for scammers are the elderly. While there may be a special place in the afterlife for scammers who prey on senior citizens, there are ways that they can protect themselves now.
Here are the three worst scams that target the elderly:
Grandchild in trouble
This scam generally starts with the criminal making an emotional call to a senior citizen. They are usually crying when you answer the phone, claiming to be a grandchild or some other close relative. The criminal says they’re in trouble – maybe they are in jail and need bail money right away. The scammer begs the “grandparent” to not tell other family members.
You are given a phone number they can call to verify the information. Someone official-sounding answers the phone – pretending to be a lawyer or police officer – and corroborates all the facts. The “police officer” asks you to wire transfer a sum of money as bail for the grandchild.
To protect yourself, get the name of the agency the caller claims to be affiliated with and call the number listed in the phone book or on an official site. Experts also advise that you call your family directly and ask about the whereabouts of the “grandchild” in question. Either way, get all the facts before forking over your funds.
Telemarketers and door-to-door salespeople
A lot of the worst scams fall under this broad title. There’s the home renovation contractor fraud, the public utility company staff scheme, and the charitable cause scam. Oftentimes, fraudsters want you to sign a contract, gain access to your home, or just take your money.
Whenever a salesperson calls you or shows up at your door, ask for professional identification and/or license information before beginning any conversation.
If someone wishes to come in and chat with you, be wary of giving them access. Tell them you’d prefer to set up an appointment a few days from now so you have a chance to verify their credentials and/or their products. Ask a family member or friend to be in attendance if you are more comfortable that way.
If you feel that someone is pressuring you to buy something or sign a contract in the moment, insist that you need a few days to think about it before making a commitment.
Vacation and lottery-related scams
These types of the worst scams usually start as a phone call. The caller is excited to offer you, the senior citizen, the opportunity to buy tickets as part of a group into a lottery. This usually involves a foreign lottery and the caller promises to lower the odds of winning dramatically – often from something in the millions to a six to one. You make a payment, and never see the money again. To be safer (if any lottery can be considered safe), buy into a local lottery to support your community and help prevent fraud.
Vacation scams work similarly, in that someone calls to offer you perks. In this case, it’s for a luxury vacation. Maybe you’re offered free accommodations or flights. The scammers claim to need your credit card to secure payment for the remainder of the trip. They promise to send you a certificate to show your “reservation”. Unfortunately, it won’t be valid anywhere.
Senior citizens are frequently targeted for the worst scams because they usually have access to large amount of funds. To avoid becoming a fraud victim, refuse to buy anything over the phone unless you initiated the call to a business you recognize.
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