As our parents age they may find that the world around them has changed in ways they may not understand. This makes them vulnerable to scammers in Kentucky and elsewhere who prey on those who are trusting and polite and have significant savings or own a home.
Seniors may be afraid to report that they have been scammed or may not realize they have been scammed at all until it is too late. The following are some common scams adult children should keep an eye on if they are afraid their parents are being scammed.
Financial scams
Some common scams are financial in nature. For example, a scammer can pose as a relative that is in dire financial straits and claim they need your elderly parents to send them money immediately.
Some scammers falsely state they are a government employee will arrest or prosecute your elderly parent unless your parent sends them money, gift cards or other types of funds. In addition, a scammer could falsely say they work for a lottery or sweepstakes, convincing your parents to send in a in order to collect their “winnings.”
Other scammers pose as home improvement services and will charge elderly homeowners for work that is never performed. The elderly are also prone to television or radio scams in which scammers use illegitimate advertisements to promote legitimate services.
Finally, some elderly individuals are scammed by family members. A senior’s own family members can take advantage of the senior’s trust in order to convince the senior to give them money. Here are three additional reasons scam artists target the elderly.
Non-financial scams
Other scams start off as non-financial scams in nature even if they eventually turn into financial scams. For example, a scammer could falsely state on the Internet or social media that they are interested in becoming a romantic partner to a single or widowed senior.
Tech scams take place when a scammer wrongfully states they will fix non-existent computer problems in order to obtain the senior’s sensitive information.
Finally, seniors may also fall for charitable scams in which the scammer wrongfully states they work for a legitimate charity in order to obtain the senior’s trust.
What to do if your elderly parent is being scammed
It is important for adult children to recognize when their parents are being scammed. Education can be key both for adult children and their parents. Often, seniors with little money are preyed upon by con artists who have one goal: easy money.
This post is for informational purposes only, regarding scam prevention for seniors. Our firm’s webpage on life care planning may be a good starting point for those who want to make sure their parent’s health, housing and financial resources are protected.
