Some Details About Financial Elder Abuse You Should Know

Some Details About Financial Elder Abuse You Should Know

Elderly are vulnerable to scams financially. The reported number of crimes against the elderly are terrifying, but what is more terrifying is that these cases are reported less, which means the figure can go up much higher. The scams are happening in various forms. Visit page to get more information.

The most common forms of scams are:

  • Schemes for Grandparents: Grandparents are using many types of social media, but they don’t know how to deal with the privacy settings of the social media. In social media, they can collect a lot of information. Now, suppose someone gathered information about the grandparent from their social media, and there are lots of information available on social media. They will use these details with the grandparent posing as someone else, and the grandparent will trust them.
  • Lottery and Sweepstakes: People know about these scams and still for it. An email will come to someone telling that they have owned a lottery or sweepstake, and the sum will be huge. Now, to claim the prize money, they first need to clear off the taxes or other expenses.
  • Prescription Drugs: This is a telemarketing scam, and it targets the senior. They are targeted because at the end of the year they might have to pay from their pocket to get the drugs because of the high price of the drugs. The scammers will promise them the cheaper drugs as they are going to import the drugs from Canada. By purchasing drugs from them you might be big trouble as the drug mightn’t contain the ingredient that you need to take, so you are at a big health risk.
  • Phishing: A senior gets an email stating that he or she has a reimbursement coming from the IRS, however, to refine the refund, she or he must offer banking information. These emails look convincing. In the past, they had plenty of mistakes and misspellings; now they look far better. They might also have a logo. The IRS will certainly never ask you for this info by email.

So, to protect senior, you need to be careful and make them updated with what’s going on around. To read more, visit the website.


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