… And it’s going to get worse!

Boomer children, be warned.  While the poor economy is definitely a huge culprit when it comes to senior scams, we also need to face the fact that many people out there are indescribably unscrupulous, earning money to hurt the ones you love.  I’ve often wondered how these people sleep at night and live with themselves, but I have come to realize these scam artists don’t seem to have much of a conscience.

Since I have had several blog followers ask me to write about the scams that have robbed their loved ones in many different ways, I want to shed light on what our seniors are going through, that often as children we don’t see … or don’t want to see.  The phone rings and it’s a friendly voice the elderly person is attracted to.  Our elderly relative might be lonely or soft-hearted and give information they shouldn’t give to the stranger.  Sadly, they are of a generation that may not fully recognize the impact of the world wide web and its power.  The stroke of a finger on a keyboard could mean financial devastation to them, and their personal information is spread around the world in an instant, never to be retrieved.

The telemarketers prey on them, promising a lottery, other forms of a windfall, and free stuff.  There is no “free.”  It all comes at a price.  We must also take into consideration that many of our relatives suffer from dementia, and the effects it has on their logic and reasoning.  In some cases, they don’t know any better, or they are just sweet-natured and gullible.  Some even buy things from TV home shopping channels just to have social interaction with the customer service rep on the phone and the UPS man when he drops off their purchases.

These are some of the things I see, but the National Council on Aging has this to say about senior scams:

• All seniors are targeted, both low income as well as high income, because it is perceived they have plenty of money saved.
• Over 90% of all reported elder abuse is committed by an older person’s own family members, most often their adult children, followed by grandchildren, nieces and nephews, and others. (Wow, this is really sad!)

Their top 10 list of senior scams:

For more details on each, go to: Top 10 Senior Scams

1. Health Care / Medicare / Health Insurance Fraud
2. Counterfeit Prescription Drugs
3. Funeral & Cemetery scams
4. Fraudulent Anti-Aging Products
5. Telemarketing
6. Internet Fraud
7. Investment Schemes
8. Homeowner / Reverse Mortgage scams
9. Sweepstakes and Lottery scams
10. The Grandparent scam

Also, consider contacting your local Better Business Bureau for senior scams  in your area, and how they can be avoided.  Make sure to place your elderly loved one’s phone number on the National “Do Not Call” Registry. Registry

While scammers still do call, it is done less frequently.  Remind them your number is on the “Do Not Call” list.

Please do your research, and do everything in your power to protect your loved one!

© 2012 Julie Hall

Your parents, especially those who live alone, are vulnerable to scams and schemes for three reasons.  First, seniors tend to be trusting.  They also may be lonely and sometimes distant from those who can protect them.  Senior parents are also vulnerable because they worry about their financial security.  Finally, scammers know that many seniors have money and valuable possessions.

Even though approximately 50 percent of elderly Americans are victims of financial exploitation, only 10 to 15 percent of the abuses are reported.

The following may indicate that your parents are being victimized:

  * Sudden bank account changes, especially an unexplained withdrawal of large sums of money
  * Unfamiliar long-distance telephone numbers, especially from overseas, on their monthly bill
  * Significantly lower standard of living (change in eating and shopping habits; unable to afford things they once afforded)
  * Selling higher-end items such as furniture, antiques, and so on
  * Sudden disappearance of valuable possessions
  * Increase in commercial or junk mail
  * Sudden change in behavior; symptoms of depression or anxiety
  * Increased worries over money

Your parents protected you when you were young with advice and example.  Look both ways before crossing the street, never speak to strangers, and a host of other suggestions were meant to protect you.  Sadly, our parents reach a point where they need us to protect them!

Here are six suggestions to protect your parents from scams and schemes:

1. Ask or discuss with your parents who has durable power of attorney.

2. Register your parents’ telephone numbers with the National Do Not Call registry (www.donotcall.gov).

3. Discuss with them the list of common frauds listed above.  Ask them to contact you if they suspect anyone is trying to defraud them.

4. Ask your parents to contact you if anyone offers to buy any of their possessions.

5. Make sure a family member personally visits your parents on a weekly basis.  If this is a challenge and you have other siblings, take turns.

6. Reduce junk mail for a small fee by going to either of these web sites: www.stopthejunkmail.com and http://mailstopper.tonic.com.

The National Center for Elder Abuse is an excellent resource for information on financial and other forms of abuse against senior citizens.  It publishes reports and conducts research on this growing problem.  NCEA’s mission is to promote understanding, knowledge sharing, and action on elder abuse, neglect, and exploitation.  Its web site also offers links to other excellent resources and organizations also devoted to protecting senior citizens.  Their web site is www.ncea.aoa.gov.

Honor your parents by standing between them and anyone who sees them as an easy target.

© 2012 Julie Hall