Over 28 million Americans become victims of fraud annually, and 30 percent are seniors. Criminals target seniors for many reasons including they may be more trusting, have savings and weren’t raised in an era of cyber scams. According to the National Adult Protective Services Association, “financial exploitation is a fast-growing form of abuse of seniors and adults with disabilities.”
Seniors face scams from strangers, professionals and in very sad cases, loved ones and trusted caretakers.
On NAPSA’s website, the organization has a detailed and helpful list of the most common types of scams seniors face:
By Family/People they Trust:
Senior exploitation is a very serious issue for a number of reasons. The effects can be devastating and life-altering. Successful scams can bankrupt seniors, putting their financial future in serious risk and making them dependent on the government. Without the ability to work, seniors have no way of recouping their lost funds. Even when seniors lose smaller amounts of money it can cause extremely negative impacts on their mental health. Abused seniors are at-risk for depression, embarrassment and shame. They may also lose their ability to trust.
Financial abuse can be tough to spot, the easiest way is to have an open dialogue with seniors about their finances. Financial activity that should trigger questions:
Midnight Sun Home Care offers an engaging presentation/seminar for groups and organizations called “Senior Targeted Frauds and Scams.” The materials cover abuse, neglect and exploitation, and how to recognize it and what to do.
The presentation focuses on:
To schedule a seminar/presentation call us.