Scams are deceptive acts that may result in the massive loss of life savings and investments. Certain scam victims have been placed in a precarious position, which may result in health problems, particularly when the harm is substantial.
Anyone, especially the elderly or elders, is susceptible to scamming. Additionally, scams targeting seniors are referred to as “elderly financial abuse” or “elderly financial exploitation.” Seniors are often targeted by scammers because they are uninformed of such acts and are unable to defend themselves.
Whether you are a senior or seeking ways to safeguard a family member, neighbor, or acquaintance, this post can be beneficial.
Seniors scams: The most common types
Before we get into the preventative strategies you’ll need to be safe, let’s take a look at the many sorts of scams that target seniors.
- Contribution scheme fraud: This sort of fraud offers individuals the opportunity to invest and grow their funds. However, after the first investment is made, the investment service may become unavailable. Due to the fact that many seniors rely on fixed savings, they are quick to participate in any venture that presents an attractive opportunity.
- Scams involving health care: For seniors, it is critical to maintain excellent health. As a result, they are easily duped. Numerous internet pharmacies have pretended to be certified pharmacists. They mostly target elderly people who will purchase whatever drug they feel would improve their health.
- Insurance scams: Occasionally, scammers may promise their victims that they can set up life insurance to cover their loved ones in the event of their demise. Seniors are always striving to provide the best for their families, and they rapidly succumb to this. At the end of the day, they may have lost a significant amount of money before they realized it was a fraud.
- Another fraud targeting the elderly is the family disguise scam. The fraudster will contact the elderly and pose as a family member, most notably a grandchild. They pose as relatives and beg for money to resolve an urgent situation. They get duped when they fall for such techniques.
- Scam lottery: The lottery has evolved throughout the years. The majority of the elderly are susceptible to lottery scams because they are unfamiliar with the present system. In this example, the elderly victim receives a message informing him or her that they have won a large sum of money in the lottery. However, they will need to pay a tiny token charge to collect this money. If they cooperate and squander this money, the narrative turns tragic.
Seniors-friendly scam prevention tips
The following strategies may assist the elderly in avoiding becoming victims of scammers:
- Prevent the transmission of personal information by email
Electronic mail is a typical method for online fraudsters to contact their victims. They trick their victims into divulging private information, most notably their bank account information, via emails. They may request personal information directly or indirectly.
As a family member, you should warn senior members of your household about the dangers of disclosing such private information online.
- Stay away from freebies
Many individuals have fallen victim to internet fraud nowadays as a result of their desire to claim freebies online. Elders who use the internet should be informed on the fact that gratis on the web are not plentiful. Numerous organizers of freebies have been exposed as fraudulent and may be attempting to collect a substantial sum of money in return. Consider the fact that some free VPN services are also virus traffickers.
- Maintain a file of family contacts
Seniors should preserve all of their family members’ contact information. Thus, when a stranger claims to be a family member, it will be easy to discern if the call is legitimate or a hoax. Additionally, family members are encouraged to contact their elderly relatives using a unique phone number to make it simpler for them to identify the callers.
- Never send money to a stranger through wire transfer
Regardless of how urgent the other party on the phone or through email may seem, elders should refrain from transferring money to an unknown individual until their identification has been confirmed. This includes any online romances they may have with complete strangers. They should avoid forming romantic interactions with strangers online if feasible.
- Avoid disclosing your credit card information
Certain fraudsters may masquerade as bank employees and request credit card information in order to assist them in resolving account difficulties. They may sometimes require that photographs of these cards be taken and provided to them. Never give up your bank or credit card information online or over the phone, no of how persistent, nice, or helpful they appear.
- Please use a VPN
A virtual private network (VPN) should be setup on each device that seniors use. This will ensure that their internet activity and data are not traced. Fortunately, a trustworthy VPN service like NordVPN protects its customers’ online privacy. As a result, the elderly may conceal their online business, making social engineering approaches hard to detect.
- Pay them frequent visits
This last recommendation on our list is for the family’s children. Please do not ignore your elderly; instead, pay them regular visits. Whether you are a great distance away from them, you will be unaware if they fall prey to or are now being scammed.
Conclusion
These are elderly scam prevention strategies to help them from becoming victims. As a senior, you should put them into practice. Educate the younger generation about these issues.
With a reputable VPN service provider like NordVPN, online privacy is almost ensured. Additionally, NordVPN can unblock websites such as Hulu, Netflix, Vevo, and Spotify, among others.