How To Avoid Scams Targeting Seniors

It’s no secret seniors are a major target for scammers. In fact, it’s estimated they lose more than $3 billion a year to fraudsters according to a study published by the MetLife Mature Market Institute. Not only are seniors more likely to be targeted, but they’re also likely to lose more money than younger victims on average. While these thieves continue to come up with new ways to cheat the elderly, there are some key warning signs that it could be a scam. Here’s a few things to look out for.

Bank Texting Scams

Scammers can go to great lengths to make messages look real. Even if you’ve received messages from the same number in the past, never assume the new texts are real. These con artists can spoof real phone numbers or e-mail addresses, to make their messages appear legitimate.

In these types of scams, it’s important to watch out for links. If the new message contains a link to a phishing website, it could be a trick to get your personal information like bank account details, and credit card numbers. It’s always wise to avoid links, and go directly to your account using the bank’s URL.

Online Dating Scams

One of the biggest red flags when it comes to online dating scams is the pace of your new love connection. If your new romantic interest seems to be moving impeccably fast, this could be a sign they’re looking for more than just a love connection. 

These types of cons usually come up with a heartbreaking story, or ask you to borrow cash or gift cards to get through a rough time. These types of requests are major indications that something isn’t right. Never give out important personal information or wire/send money to someone you’ve just met.

Some other tell-tale signs something could be a scam include:

• A call or e-mail claiming to be from a government agency that is asking for a payment of some sort. 
• A request to pay money or taxes upfront to receive a prize or a gift. 
• A sense of urgency, the “act now” or lose out type of deal.
• A caretaker or new friend asking for personal information like financial records and passwords.

Do you have more questions about taking care of your aging loved ones or know of a new scam targeting seniors?

If you need help, please contact us by filling out our Contact Form or by giving our office a call at +1(951)686-3608.

As the most experienced CPA in the Inland Empire who specializes in working with seniors, Marcia L. Campbell is committed to helping each client thrive by caring for their personal and financial wellbeing with genuine interest, well-established expertise, and a focus on respectful partnerships. Marcia’s team specializes in a number of services including elder & financial care, court & trust accountings as well as private fiduciary and tax services. At Marcia L. Campbell, CPA, we understand the importance of our clients’ individual needs and are committed to helping them make the best personal and financial decisions for their future.