According to the results of the most recent AARP poll, nearly one in every five caregivers reports that their loved one has lost money as a result of a scam.
Scams and fraud are at an all-time high, with those targeting the elderly being the most prevalent. According to the AARP, 52 percent of victims suffer a financial loss of at least $1,000 or more.
According to Amy Goyer, AARP’s Family and Caregiving expert, “the most common scams that we’re seeing right now are urgent – everything revolves around being urgent – and part of the reason for this is because they want you to act quickly before you have a chance to verify the person or the organization who is contacting you.”
Goyer told 7OYS that scams range from impersonating government officials to utility firms.
“They may claim to be from Social Security, Medicare, or the Internal Revenue Service, and they will tell you that you owe money and that you must send it immediately. The number of utility scammers that we see is increasing, she said. “They claim you’re behind on a bill and we’re going to shut off your power, your heat, or your water,” she added.
Another prevalent fraud is playing on the emotions of the elderly.
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Goyer explained that “they claim it’s your granddaughter and that I am in difficulty and that I need money right immediately; please don’t tell mum and dad – it’s astonishing how many people they get with these scams.”
She went on to say that caretakers should keep an eye on how their loved one’s money is being spent and who they are speaking with on the phone.
I usually remind caregivers that if their loved one starts talking about a new buddy who they met online or who has been calling them, that should raise red flags.
In the event that you notice them purchasing a large number of gift cards, caretakers should be aware that nobody, and no one, ever needs that you pay for anything with a gift card; it is a scam 100 percent of the time.”
Whenever you suspect that a loved one has fallen victim to one of these types of scams, you should immediately report it to the appropriate authorities and contact their financial institutions.