Trinity Life At Home, An Established Atlanta In-Home Memory Care Provider, Shares Ways To Keep Seniors Safe From Fraud
Scammers continually devise new ways to exploit vulnerabilities, especially those of senior citizens. As trusted family members or caregivers, it is crucial to be vigilant and proactive in helping protect your loved one. Trinity Life At Home, offering Atlanta in-home memory care, addresses common senior scams and provides practical steps you can take to safeguard your aging family members.
What Makes Seniors Prime Targets For Scammers
Older adults are frequently targeted by scammers for a variety of reasons. They are often perceived as having substantial savings, owning their homes, and having good credit, making them attractive targets.
Additionally, seniors may be less familiar with protecting their information online and may be more trusting than younger generations. The most frequent types of scams include fraudulent phone calls regarding taxes due or prizes won, email phishing, fake prescription drug sales, and grandparent scams. Often the scammer pretends to be a grandchild in dire need of money.
“The Federal Trade Commission reports that one in every 18 older adults becomes a victim of financial fraud each year,” highlighting the gravity of these scams and the importance of prevention.
DID YOU KNOW…
“Each year, an Estimated 28.3 Million Dollars is lost to EFE (Elder Financial Exploitation)- Senior Fraud Scams.”
cbsnews.com/AARP Study
Why They Are Vulnerable
The National Council on Aging (NCOA) points out that seniors are often more susceptible to scams due to factors like loneliness. This is especially the case if they live alone or suffer from dementia or memory loss issues. This can lead them to be more receptive to a scammer’s fabricated friendship or interest. Cognitive decline can impair judgment and decision-making abilities, making seniors more likely to fall for deceptive practices and scams.
Protection Measures You Can Implement To Safeguard A Senior Loved One
While seniors do face more significant threats as potential fraud victims, there are things you can do to help protect them. To keep your senior loved ones safe, consider these protective strategies:
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- Open Conversation- Talk To Your Loved One Regularly
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Maintain an open line of conversation with your seniors about the reality and seriousness of scams. Emphasize the importance of never sharing personal information. Legitimate organizations will never push for confidential data over the phone or through unsolicited emails.
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- Proactive Monitoring – Be Involved In Their Financial Protection
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Whenever possible, help manage and monitor bank accounts. Review credit card statements for unauthorized charges or suspicious activity. Setting up alerts for unusual activities can also be beneficial.
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- Updated Knowledge – Keep Up To Date
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Keep up to date with the latest scamming methods. The Federal Trade Commission (FTC) regularly updates consumers on new scam trends.
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- Use of Technology – Help Your Senior With Their Online Activity
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Implement technology solutions like call blockers to reduce the number of unsolicited calls. Make sure computers and online accounts have updated antivirus software and strong passwords.
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- Legal Safeguards – Be Their Caregiver
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Consider setting up power of attorney or becoming a trusted contact for your senior loved ones’ financial accounts so you can legally intervene if you spot signs of scamming. This is especially important to do before any cognitive decline makes it more challenging.
Talk with your senior adult about their plans and wishes should they become unable to manage their affairs. Decide who should become the primary caregiver to make health, life, and financial decisions for them.
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- Regular Check-Ins – Visits Are Important
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Frequent check-ins can help you stay aware of any changes in your senior’s financial behavior that may signal a scam, such as sudden large withdrawals or a new reluctance to discuss financial matters. Regular visits will also help you see if there is a significant change in behavior or health decline.
If memory care becomes an issue, it may be time to consider an in-home health care provider such as Trinity Life At Home. A trusted in-home memory care provider can assure that your senior’s health and daily life needs are being met.
What To Do If Your Senior Has Been Scammed
If you discover that your senior loved one has fallen victim to a scam, it’s essential to act immediately:
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Contact banks and credit card companies to report suspected fraud.
- Change passwords and usernames immediately.
- File a complaint with the FTC and local police.
- If the suspected fraudster has access to the home, it may be important to look at measures like changing locks and installing a security system.
- Consult a legal advisor on the necessary steps to protect assets and potentially recover lost funds.
Contact banks and credit card companies to report suspected fraud.
Once the financial and security safeguards have been put in place, provide emotional support for your senior loved one. Being victimized by a scam can be a profoundly distressing experience. Help them understand that it’s not their fault and that everything will work out. When the time is right, talk with them. Emphasize that staying vigilant and protecting themselves is the best defense against scam artists.
Trinity Life At Home Provides In-Home Health and Memory Care For Seniors in Atlanta and The Surrounding Areas
Taking an active role in helping our senior loved ones recognize, prevent, and manage scams is vital. With the proper measures and open communication, you can better protect them from these financial predators.
Trinity Life At Home provides in-home health care for Atlanta and North Fulton County. Taking an active role in memory caregiving services for your senior loved one, we can provide daily living assistance so that they may stay in the home in comfort and with dignity.
