Did you know seniors lose billions of dollars to scammers yearly? It’s an unfortunate fact of life that scammers target seniors, but that doesn’t mean you’ll inevitably fall for their tricks. Learn how to avoid scams targeting seniors, and you’ll keep your money in your wallet where it belongs.
Exploring Scams Targeting Seniors
It may sound shocking, but it’s true: Senior victims lose over three billion dollars to scammers every single year. Some seniors are embarrassed when they’re the victim of fraud, but these numbers demonstrate that there’s nothing to be ashamed of. Senior fraud is a widespread problem, and anybody can be a victim. The best way to keep yourself safe is to stay informed, so read on to learn how to avoid scams targeting seniors.
Why Are Seniors Common Targets?
To avoid getting scammed, knowing what makes a senior a target is helpful. There are several reasons that seniors find themselves targeted by scammers:
- Because many seniors save up for their golden years, they often have access to assets that other age groups do not. Pensions, retirement accounts, and other financial assets appeal to scammers seeking a jackpot.
- Seniors often seek new social connections as they age, which is, unfortunately, a characteristic that scammers know how to exploit. Scammers will pose as friendly acquaintances or even actual friends and family members to gain access to a target.
- Sometimes, seniors aren’t aware of how scammers can exploit technology. Not understanding things like email phishing or scam telephone calls can make a senior an easy target for a fraudster.
How Can You Avoid Getting Scammed?
As you can see above, there are many ways an unlucky senior can find themselves the target of a scammer. The good news is that there are also plenty of things you can do to avoid getting scammed:
- When it comes to avoiding scams, knowledge is power. Familiarize yourself with the most common senior scams, and keep yourself up to date with a reputable website like AARP’s Scams and Fraud Center.
- Be careful on the internet. Don’t open emails from unknown senders, click suspicious-looking links, or download programs from unsafe sources. Use complex passwords to protect your internet privacy. If you need more information about protecting yourself online, this guide can help.
- If you suspect a financial offer is actually a scam, trust your gut. Anything promising you an unrealistic return on investment probably can’t be trusted. If it seems too good to be true, it probably is.
- Sometimes, people will impersonate government agents, tech support, or others in positions of authority to trick you into sharing your personal information. Never share your social security number, credit card number, or other vulnerable information unless you do so securely. Do not share personal information on unknown websites or share it via email or text message. If you aren’t sure if something is a scam, err on the side of caution.
- If a senior is struggling or socially isolated, they’re more vulnerable to scammers. Assisted living can help by providing everything seniors need and also providing companionship and care.
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It’s essential to understand how to avoid scams targeting seniors. Now that you know how to keep yourself safe, share this information with a friend!
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