• Kelli Edwards

Keep Away Scammers: Fraud Prevention for Senior Safety

One important part of senior safety is fraud prevention. Seniors get scammed: here's how to help.

Seniors in the United States currently lose around $37 billion (yes, billion) every year to scammers.

These scams include telephone and online scams, but they also include family members and friends who take advantage of their elderly. 

Are you concerned that your elderly loved one could fall victim to such a scam? If so, keep reading.

Explained below is everything you need to know about senior safety. 

Keep this information in mind and you'll have a much easier time helping your loved one avoid senior fraud.

Reasons Seniors are Vulnerable to Scams

There are lots of reasons why seniors are vulnerable to scams and are often victims of opportunists looking to make a quick buck.

The following are some of the most common reasons seniors are popular targets for scammers:

They often have a nest egg set aside for their retirement

They often have good credit scores

They're polite and are generally less inclined to tell people "no"

They may suffer from cognitive issues or memory problems related to dementia

They're more susceptible to "special offers," especially those that have to do with increased lifespan or improved health

Seniors are less likely to report being victims of fraud, too. They may be embarrassed to admit that they were victimized, or they might not know where to turn to report the crime.

Senior Fraud Prevention Tips

There are plenty of reasons seniors fall victim to scams, and there are plenty of scammers out there looking to take advantage of the elderly.

The good news, though, is that there are lots of steps you can take to help your loved one stay safe online, when they're talking on the phone, and when they're confronted by friends or relatives with less-than-pure intentions.

The following are some of the most effective senior fraud prevention tips you can implement today:

Never Give Out Personal Information

This is one of the best things you can teach your loved one to do to avoid senior fraud. Make sure they know to never give out their personal information online or over the phone.

Unless they've initiated the phone call and know the person to whom they're speaking, they should never provide their credit card number, address, social security number, or other important pieces of information.

Never Pay for Something That Should be Free

Often, seniors will fall victim to scams that claim to provide them with a free product "as long as they pay a processing fee."

Seniors might end up giving their credit card number or writing a check to someone requesting just a simple processing fee and end up paying way more than they planned.

Seniors should know to never give away