Scamming The Elderly

By Anita Kamiel, RN, MPS

I bet you didn’t know that scamming seniors has been tagged by the National Council on Aging (www.ncoa.org) as “the crime of the 21st century.” And, these heartbreaking crimes are often committed by relatives. The Identity Theft Resource Center calls this “financial exploitation” which “can rob a senior of self-esteem and trust as well as his or her means of subsistence.”

Unfortunately, while their health could have been responsible for their diminished capacity to ward off any scamming, the worry over lost funds and the ensuing depression can send the elderly into an even more serious downward health spiral.

Scammers play on the emotions of the elderly who want to maintain control over their lives, yet financial abuse can leave them defenseless. Schemes and traps to look out for include:

• Investment schemes from con men promising unrealistic returns on investment; this can also include reverse-mortgage pitches
• Fake utility-company call about a past-due payment threatening a service shutoff if payment is not provided immediately
• Bogus Medicare representative calling to gain personal information
• IRS scams demanding payment of back taxes or threatening arrest
• Counterfeit discounted drugs on the Internet, which can seductive to seniors who are usually short on cash
• Unsolicited tech support from “Microsoft” notifying of a problem with your computer
• Unnecessary charges for burial costs of a spouse are legendary, like buying a casket for a cremation
• Phony telemarketing representatives prey on the elderly who are usually home with time to talk
• Internet appeals for money for stranded relatives or friends; some even call posing as grandchildren with pleas not to tell “parents”
• Viruses downloaded from pop-up ads or opening attachments from seemingly reputable companies that pirate sensitive information from the computer
• Phishing for information verification from links provided that appear to be from well-known companies
• Being informed of winning a lottery or sweepstakes with a request for bank information to deposit prize money
• Thieves can target an elderly person’s home and rummage through trash for important information

It’s almost worse when those we trust are doing the scamming. Caretakers like a relative or paid employee such as a lawyer, someone with power of attorney, or a caregiver can have access to personal financial information, making it easy for them to manipulate funds and credit.

They could:

• Establish credit using the senior’s financial information
• Cash checks without permission
• Forge the senior’s signature on checks or applications
• Steal assets other than money
• Coerce the senior to make them a power of attorney, giving them free rein over all the senior’s affairs

Obviously, all this could wipe the elderly out financially, emotionally, and health-wise. It is important to keep an eye out for your senior loved one so none of this happens. Here are some ideas.

1. Don’t shame your parents into thinking they are helpless to defend themselves. This will “get their back up” and put their activities even more underground. Empower them by encouraging them to help the cause by coming forward with any leads they may have for the authorities.
2. It is news to many that once one firm lands a “sucker” for one of their scams, they sell that list to other disreputable scammers who bombard the victim with more offers. Be alert for a sudden barrage of calls from scammers and explain this to your senior loved ones and caregivers as well.
3. Keep their nutrition up. Diminished cognitive ability can leave the elderly vulnerable. Keeping them fit can have a big impact on brain health.
4. Stress the importance of mail safety. Social Security numbers, mother’s maiden name, account numbers, and passwords are vital pieces of information. Buy them a cross-cut shredder and make sure they use it.
5. Make your parents’ phone number unlisted or disconnect their landline altogether. Scams are much less likely on cell phones.
6. Contact the Direct Marketing Association (www.dmachoice.org) to put their address on all opt-out lists to cut down on junk mail and to lessen the chance of their address being sold.

Most important is to keep the communication up with your senior to make sure they are honest with you. The AARP’s help line not only has children seeking advice, but parents calling up for assistance saying not to tell their children because they feel stupid for being so gullible.

There are many agencies you can turn to for help and tips.

• AARP’s Fraud Fighter call center: 800-646-2283
• Investor Protection Trust’s Elder Investment Fraud and Financial Exploitation Prevention Program (www.investorprotection.org): 202-775-2112
• U.S. Department of Justice’s Elder Justice Initiative website: www.justice.gov/elderjustice
• NYS Office of Children and Family Services’ Adult Protective Services (http://ocfs.ny.gov/main/psa/faq.asp): 518-473-7793
• Eldercare Locator at www.eldercare.gov for services in your area
• Identity Theft Resources Center (www.idtheftcenter.org): 888-400-5530
• Financial Industry Regulatory Authority’s securities helpline for seniors: 844-57-HELPS (574-3577) v

Anita Kamiel, R.N., M.P.S., is the founder and owner of David York Home Healthcare Agency and is fully acquainted with all factors related to eldercare services and the latest guidelines for seniors. Thirty years ago, she realized the need for affordable, quality home health aide services provided and supervised by caring individuals. You can contact her at 718-376-7755 or at www.davidyorkagency.com. David York Agency is also on Facebook, Twitter, Google+ and LinkedIn.