Cyber Crime & Financial Scams Against Seniors

In today’s society, cybercrime, scams, hacks and fraud have become common occurrences because so much of our daily lives are wrapped up in technology. The internet is an invention that has introduced so many wonderful things to our lives. The ease of email and social media give us the ability to stay connected with friends and family across the country. Online banking programs allow us to access financial data any time of day or night, and countless websites provide information on an endless number of topics and interests. While the technology of the internet has brought us a wealth of positive achievements, the potential for criminals to abuse and scam people is a very real threat.

Senior citizens are the target of cybercrime and telemarketing schemes for several reasons:

• Older Americans did not grow up with technology at their fingertips, thus the continual forward march of the internet is often difficult for them to understand. It is easy for criminals to confuse them — not because of their age, but because of their ignorance of the technology and what protections should be in place.
• Persons born in the 1930s-1950s were generally raised to be polite, trusting and considerate of others. When a telemarketing scammer gets a senior on the telephone, they are less likely to hang up or say no.
• Criminals believe senior citizens have large sums of money in their bank account and have excellent credit. This makes them a tempting choice for identity theft.
• Seniors are also less likely to report a cyber or telemarketing crime. They may fear that loved ones will think them incapable of taking care of themselves, believing their mental capacity has diminished because they allowed themselves to be scammed.
• Senior citizens are targeted with scams criminals know they have a personal interest in – healthcare, prescription drugs, medications to improve physical or cognitive function or financial investments.

Here are some of the top schemes to watch out for in order to keep yourself or an older loved one safe from the pitfalls of falling victim to a scam.

1. Internet Phishing Scams: Emails that ask for the user to update personal information or verify that information is often a nefarious ploy to steal that protected information. It is easy to confuse people as these scam emails are often orchestrated to appear that they are from a legitimate company to which the user already has a connection. Recalling the trusting nature of the older population, an email that appears to come from what they perceive as an authoritative or familiar organization can compel them to respond and provide the information requested.

2. Medicare or Healthcare Scams: Every American citizen over age 65 is a recipient of Medicare services. Criminals may pose as an agent of this government agency to extract personal information from a senior citizen so they can bill Medicare and pocket the money. These criminals often provide bogus healthcare services at mobile or makeshift clinics. If a person ever calls or comes to your home posing as a Medicare or other government health agency representative, you should not give them any information and you should call the authorities.

3. Telemarketing Scams: Generationally, senior citizens make more purchases over the phone than any other age group. Scammers prey on the trusting and polite nature of these citizens. Criminals will pretend to sell the person a product that doesn’t exist and of course will never arrive. They may ask for donations to a phony charity or tell the senior that a friend or relative is in the hospital and needs money for their care. These scams are very difficult to track and prosecute as there are no face-to-face interactions and no paper trail.

4. Fraudulent medications or treatments: We live in a society where youth and beauty bombard us every day. Senior citizens looking for inexpensive medications may fall victim to online schemes that take their money but deliver a faux product that has no medical value, or worse – is dangerous and causes harm. Scammers looking to make a quick buck sell what they label as homeopathic or natural cures for ailments like arthritis, back pain or decreased cognitive function. Once a person has paid for these products, not only have they put their financial information in the hands of criminals, but they risk doing harm to themselves by use of these counterfeit products.

The Department of Homeland Security (DHS) cautions all persons to take a step back when doing any business online or when talking with a stranger in person or on the telephone. In these situations, being overly cautious is advised – do not give anyone information without first verifying it is legitimate. DHS warns not to enter online contests or clubs that ask for personal information (name, address, social security number, insurance policy number, etc) and to be wary of emails that promise free vacations, prizes or money. You should never provide personal information over the internet (this includes email) unless you have first verified that the request is coming from a legitimate organization.

If you believe a loved one or even yourself has been the victim of a cyber or financial scam, you can talk with the management team at Evergreen Senior Living for guidance on contacting the proper authorities. They will be able to determine what agency can best help remedy the situation and provide next steps.