Generic selectors
Exact matches only
Search in title
Search in content

More results...

5 Ways To Combat Fraud

Mar 30, 2020|Finance & Planning

Senior woman in nursing home with her granddaughter showing her how to use a mobile phone

In recent years, fraud has become one of the most expensive crimes in the country. In 2015, the financial services company, TrueLink, estimated the total loss to fraud at $36.5 billion, and AARP reports that the average loss per victim of fraud is $120,000. Adults over sixty account for millions of fraud victims each year.

There are a few reasons why elderly adults are more susceptible to fraud schemes. For one, most of them grew up in a time without technology which has made it easier than ever for criminals to fraud people. Also, many seniors grew up in periods that made them more trusting of others.

Here are some tips to help your elderly family and friends combat fraud schemes:

#1-Shred Documents

Encourage the adults over sixty in your life to shred important and financial documentation. Credit card statements, housing documents and anything that could provide bank information to a criminal should be destroyed once it’s no longer needed.

#2-Add To The “Do Not Call” List

To help cut down on the number of solicitation and potentially fraudulent calls, add senior adults to the official DO NOT CALL list. Find more info here.

#3-Communicate The Dangers

Most elderly grew up in a more trusting time. Nowadays, with advances in technology and rampant fraud activity, financial institutions have adopted stricter rules regarding the collection of information. For the most part, no important information regarding identity or finances is collected over the phone unless you initiate the call.

#4-Sign Up For Direct Deposit

Signing up for direct deposit for all benefits checks can help deter checks being stolen from the mail.

#5-Take Special Precautions In A Crisis

During crisis situations, like the recent COVID-19 pandemic, criminals attempt to take advantage of the elderly by launching complicated fraud scams. Oftentimes the fraudulent party pretends to be a family member or friend and requests money either via transfer or gift card purchase. Alert the elderly adults in your life of these types of schemes and set up a protocol for how they should respond.

Found this useful? Share with

More Related Articles Picked For You…

Read This Post

Oct 13|Tips & Tricks

Staying Warm This Fall: 6 Easy Tricks Instead of Blasting the Heat

Older adults are sensitive to both heat and cold, so as the seasons start to change from summer to fall, seniors will need to find easy ways to stay comfortable and healthy.

Read This Post

Sep 21|Assisted Living

Raising Awareness for Alzheimer’s and How to Detect It

Every September, the world comes together to raise awareness and challenge the stigma that persists around dementia and its most common form: Alzheimer’s.

Read This Post

Jun 25|Health & Wellness

Prepping for the Heat: Information, Water and Air! Oh My.

Knowing how to watch for heat stroke, following the weather reports and making sure you have the tools to keep cool like water and airflow are the best ways to prepare for the heat this summer.

Find Your Community


and/or
BACK TO TOP

Enjoying Life, Enriching Lives, Living Well.

9310 NE Vancouver Mall Drive, Suite 200
Vancouver, WA 98662

Copyright © 2021 Hawthorn Senior Living

|