Safety is of utmost importance for the whole family, especially amongst seniors who are physically and emotionally vulnerable. A critical and alarming safety concern nationwide is phone scams targeting seniors to lure money illegally. In 2023, the rate of phone scams targeting seniors rose by around 14% in the country, causing losses of at least $3.4b. In some devastating scenarios, seniors lose their life savings in an instant. This is why it’s extremely important for families to take the initiative and empower them with useful safety techniques.
In this blog, we will discuss the popular phone scams targeting seniors, how they impact seniors and learn proven ways to protect seniors and their finances.
Common Reasons Seniors are Targeted for Phone Scams
Although people of any age group can be at risk of phone scams, older adults are more likely to be targeted as they:
- Have large sums of money as their retirement savings.
- Trust others easily, especially so-called well-wishers.
- Are not tech-savvy and can be fooled by hackers.
- May have cognitive impairment that hampers their judgment.
- Are more likely to not report the scam due to embarrassment.
It is important to cultivate a relationship of trust and confidence with your loved ones so that they don’t hesitate to inform you when they suspect a possible scam.
7 Types of Phone Scams Targeting Seniors
Professional scammers can be quite creative while planning scams, inventing scenarios that compel seniors to believe and trust them blindly. Based on reported cases in the past, we’ve listed 7 types of phone scams targeting seniors:
- Sweepstakes Scams: This is the most common scam in which the scammer informs a senior that they’ve won a jackpot which they never entered. They’re asked for banking information for clearing shipments, that are never received. According to the Federal Trade Commission, around 44% of phone scams targeting seniors were from sweepstakes and lottery scams.
- Grandparents Scams: Scammers play with the senior’s emotions by saying that their grandchild is in trouble. They use social media to find out personal identification details of the grandchild and make the situation sound more convincing to the seniors. Scammers then ask the grandparents to wire large sums of money or Zelle it to save their grandchild.
- Government Impostor Scams: Sometimes seniors are scammed by a person who claims to be an important government official such as from the Social Security division. The scammer claims that the senior’s SSN pin has been suspended due to an alleged crime, asking them to send money in the form of gift cards to resolve the issue. In other versions, a Medicare Representative asks them to verify their Medicare number, to rob off their health benefits.
- Romance Scams: Another popular scam amongst phone scams targeting seniors is ‘Sweetheart scam’ which exploits their loneliness and desire for companionship. Scammers reach out through online dating sites, or social media apps through fake profiles which appear attractive. Once a relationship is established, the scammer invents a crisis such as a medical emergency that requires financial assistance.
- Financial Investment Schemes: Scammers present investment opportunities that promise high returns with little or no risk. These offers might be in unfamiliar areas, like foreign investments, or new technologies like cryptocurrency. To push the senior into making a quick decision, scammers say the offer is time-sensitive, leading to rushed, ill-informed decisions.
- Online Shopping Scams: Online shopping phone scams targeting seniors exploit their trust and lack of familiarity with digital platforms. Scammers create websites that mimic legitimate online stores. These fake sites offer goods at unbeatable prices to lure in victims. Once payment is made, the goods never arrive, or they receive counterfeit or substandard products.
- Robocalls and Phishing Messages: Robocall scammers use automated voice technology to dial numbers from any part of the world. In a popular version of robocall scam, the senior receives a robocall which asks them, “can you hear me”, when the senior replies “yes”, the scammer records their response and uses it to authorize payments of stolen credit cards.
These are just some of the popular versions of phone scams targeting seniors that we know of. Please note that with evolving technology and diverse scenarios, scammers may invent new tricks to use on vulnerable seniors.
Tips to Protect Seniors from Phone Scams
It’s quite easy to fall prey to a cyber scam, especially because scammers are resorting to more sophisticated technology to fool people. They have no fear of being caught for their criminal activities because they’re often untraceable. It’s crucial for us to safeguard our loved ones with these useful strategies which can protect them from phone scams targeting seniors:
- Educate seniors about scams: Knowledge is power. It is essential to raise awareness of phone scams targeting seniors. As a family member, you should regularly check trusted sources like AARP and FTC to stay updated about the latest scams targeting the elderly. You should share learnt information with your elderly to help them stay alert and avoid potential scenarios. Additionally, if they have already been a recent scam victim, guide them to notify the authorities to help them protect their savings.
- Avoid calls from unknown numbers: Filter incoming calls by using caller ID on the landline. Enroll in Call Labeling technology which is provided by most service providers. This tool follows an algorithm to label a call as ‘suspicious’ or ‘scam’ based on the phone number’s reputation. Instruct your elders to answer calls only from known numbers and let the unknown calls go to voicemail. Spammers usually do not leave a voice mail behind; this is a good way to protect seniors from potential phone scams.
- Set up call-blocking technology: Contact your service provider to enroll in their call-blocking service, that blocks calls from unrecognized numbers and send them straight to voice mail. Alternatively, you can also use trusted apps such as Hiya and TrueCaller which have an extensive database of known spam callers and provide real-time protection against phone spam. Download these apps on your senior’s mobile phones to automatically block unknown numbers and calls from known scam phone numbers.
- Share a secret code word: To prevent seniors falling for grandparent scams, set up private code word with close loved ones to verify their identity. This can be used to detect scammers pretending to be family or friends in distress who ask for financial help.
- Leave helpful notes for seniors: Use handy notes which can help seniors stay proactive, alert, and make the right decision during potential phone scams targeting seniors. Use notes such as ‘STOP, LEAVE, WAIT, ASK and ACT’ to remind them what they should do when they receive unknown calls. If they receive a suspicious request, remind them to stop and think carefully, without making hurried decisions.
- Be wary of online friends: When making new friends online or using online dating apps, ask seniors to be wary of friends who seem to be moving very quickly in the relationship. Educate them to not share personal information too quickly and do not agree to send money, no matter what the other party’s emergency seems to be.
- Never share personal details: Genuine organizations would never ask for their Social Security Pin, Medicare Number, Credit Card Information or banking account information over the phone. Remind seniors to never disclose personal information with unexpected phone callers, no matter how urgent the situation seems to be.
- Watch out for unusual bank activity: If your senior is receiving unexpected calls from debt collectors, or a new credit card has been issued in their name, or there seem to be unknown and strange transactions on their credit card, it is quite likely that they’re the victims of an identity theft. Immediately contact the financial institution to report fraud and stop further transactions on the account.
- Consider a Senior Home Care Service: To ensure your seniors enjoy their daily life at home with enhanced safety, consider using the services of senior home care providers such as Assured Home Nursing. We allocate reliable and trustworthy caregivers who supervise your elderly’s daily activities and foster a safe environment. Our caregivers help them use and navigate technology to stay in touch with their family and friends and stay entertained in a safe and secure manner.
Conclusion
Staying safe from phone scams is a crucial aspect of protecting seniors’ financial and personal well-being. As scammers become increasingly tech-savvy, it’s essential for seniors to stay informed, be cautious, and trust their instincts. By following simple yet effective strategies—like not sharing personal information, being skeptical of unsolicited calls, and using call-blocking technology—seniors can significantly reduce their risk of falling victim to these schemes. If you or your loved one suspects that they have been a victim of a phone scam, immediately call the National Elder Fraud Hotline at 833–372–8311, as a first step.
Contact us at Assured Home Nursing to find out how our in-home care services can create a safer lifestyle for your aging loved ones. We offer personalized home care services such as Companion Care, Personal Care, and 24-Hour Home Care which promote the well-being of your seniors in all aspects- physically, mentally and socially. Get in touch with us at (248) 593-8134 for a free consultation for your loved one.
Sources
https://www.fbi.gov/news/stories/elder-fraud-in-focus
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3916958
https://consumer.ftc.gov/articles/phone-scams
https://consumer.ftc.gov/articles/robocalls
