Sadly, financial scams aimed at seniors are commonplace in society today. There are a number of ways that family members can help their older loved ones avoid becoming victims of financial scams. Let’s look at 5 strategies that can help seniors stay clear of criminals.
Stay in Regular Touch
Being a regular part of your loved one’s daily life is a great way to monitor any suspicious activities that might be going on with regard to financial fraud. During visits or phone conversations, ask them if they had been contacted by anyone wanting to discuss financial matters. Their answer might be at first vague, but with a little probing, you will be able to uncover any concerning issues.
Remind Them of the Danger
Some seniors are not aware of the seemingly endless amount of financial scams going on today. Have a frank discussion with your loved one and educate them about the ways that people target seniors to commit fraud.
Give them specific examples about what criminals will do to win over their confidence and try to manipulate them to give out financial information. Helping your loved one be aware of the latest scams gives them the information needed to recognize the signs somebody is trying to steal from them.
Use Call Blocking Technology
Today’s modern technology can be a great help in preventing your loved one from becoming a victim of financial crime. Specific phone numbers can be blocked from connecting with your loved one’s cell or landline.
Look at their call history and see if there are suspicious looking phone numbers that can’t be identified. Block the ones that you feel are potential trouble, so they will not contact your loved one again.
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Look for Missing Checks or Other Financial Documents
If your loved one has in-home caregivers or service people coming to the house, monitor their checkbook for missing checks. Criminals will normally steal checks from the back of the checkbook, making it more difficult to notice.
Hide bank statements or other financial documents that have account numbers on them, so they can’t be used to access information fraudulently.
Be Added to Bank Accounts
Ask your loved one if they would be willing to add you as an authorized user to their bank accounts. This will also allow you to view their accounts online, which is a good way to watch out for any suspicious activity. If you detect something is wrong, you can notify the bank immediately.
Being proactive and spotting problems early is the best way to stop criminals in their tracks.
Keeping Your Older Loved One Safe from Financial Fraud
Financial fraud against seniors is an ongoing problem, and will only continue to grow. By staying in touch with your loved one, educating them about the realities of crimes against seniors, utilizing call blocking technology, and monitoring their bank accounts, you will make it more difficult for criminals to victimize them.
The compassionate staff at Frontier Senior Living has assisted many families find the right Senior Living community to keep their loved ones safe. If you would like to learn more about our services, we invite you to take a tour of one of our communities and speak with our friendly staff.