According to the U.S.
News & World Report, every year there are 5 million cases of elder
fraud in the U.S., resulting in as much as $27.4 billion in losses. Additionally these crimes are often hard for
law enforcement to prosecute as in many cases; victims are too embarrassed to
report the crimes.
The FBI says con artists also know that seniors do not make good witnesses even if they do report the crime due to the
effects of age on their memory and the length of time it takes to bring a case
to justice.
Experts explain there are several reasons why seniors
are more susceptible to fraudulent schemes starting with the fact they tend to
be very trusting. Our elderly population
was typically raised to be polite, to believe people are basically good, and has
a hard time saying “no.” These are the
traits con artists exploit. Lonely seniors
can easily be preyed upon as they are willing to stay on the phone and engage
in conversation with a stranger.
A recent scheme that targeted a large group of seniors
was a robocall that informed people they needed to return the call as there was
a security issue with their social security number. When the person called back, they were asked
for their full name, address and S.S. number, and told their SS# had been
comprised and they would be receiving a new one. Authorities
warn that if criminals obtain someone’s full name and SS#, it allows them to do
all kinds of damage to the victim including trying to collect their
benefits.
Another scam is romance fraud, which involves a person
being approached by the scammer through dating sites or other social
media. A relationship ensues through
online contact but never face-to-face. After
a level of trust is established, the person is asked to send small amounts of
money for alleged emergencies to test their willingness and gullibility. Finally as the scam plays out, the person may
give the con artist large amounts of money, or even be used to receive money or
goods purchased with stolen credit cards or to transport drugs.
The FBI warns that there are many fraudulent schemes
to be aware of including telemarketing scams, Medicare scams, tax fraud,
etc. They say, “If you are age 60 or older—and especially if you are an older woman living alone—you may be a special
target of people who sell bogus products and services by telephone.” Remember to never give out personal or
financial information over the phone or online and do not send money.
MorningStar at Bear Creek
brings a unique vision to senior living with our mission statement “to honor,
to serve, to invest.” Our foundation is built on honoring God, valuing all
seniors and selecting staff with a felt calling to serve. We are dedicated to
creating a true home within an ideal setting and invite you to schedule a tour
to see firsthand the best
assisted living for dementia patients in Colorado
Springs.
Sources: health.usnews.com/health-care/for-better/articles/how-to-prevent-senior-fraud
fbi.gov/scams-and-safety/common-fraud-schemes/seniors
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