Financial Crimes Against Seniors

grandma scam.JPGFinancial Crimes Against Seniors

Unfortunately there are persons who are willing to try and target our seniors. Our seniors are targeted for many reasons: loneliness, age vulnerability, health related issues such as dementia and Alzheimer's.

Fraudulent telemarketers will contact seniors and attempt to build a rapport with them over a series of phone calls. Once this is accomplished they will convince the senior to send money to them through a common scam.

Fraudsters will pose as a variety of different persons including repair workers and renovation contractors. With home renovations people should be conscientious of company uniforms, ensure they have proper I.D., ensure actual construction is required, beware of cash deals, beware of rush deals, get a second opinion and speak to family members prior to an exchange of cash.

Fraudsters may also contact our seniors and pose as a grandchild requesting emergency money. They will state that they are in an emergency situation and don’t want to contact their parents. They will say such things as they need money and are in another country, they were in a car accident or they need money for bail.

Click here for information on Grandparent Emergency Scam info.

For other Crimes against Seniors please visit our Edler Abuse section

• Seniors must be vigilant to these scams and ask the necessary questions of prospective contractors,

• Adult children and caregivers of seniors must be aware of these and any other scams and discuss them with their parents or patient,

• If there is a suspicion that a senior has been financially compromised then credit bureau checks should be completed to ascertain the extent.

• Seniors should never wire money to anyone requesting payment via wire transfer.