According to the FBI, there are many reasons that seniors are commonly targeted for scams. Older Americans often have a savings set aside and are home-owners. Seniors also typically have good credit, they’ve got their personal finances in order that criminals are interested in gaining access to.
Seniors who grew up in the 1930s, 40s, and 50s were often raised to be polite and trusting. Cons exploit these tendencies. Older citizens are also less likely to report fraud because they may not be aware of who to report the crime to or they may feel ashamed that they were taken advantage of. Many scams focus on products that increase memory, fight cancer, or increase virility. These are areas of concern for many older Americans. Medical technology has advanced significantly and so it isn’t hard for seniors to believe that the claims made by cons could actually be true.
The types of scams that target seniors are numerous. Some of the most common types of fraudulent schemes involve health insurance frauds, counterfeit prescription drugs, funeral and cemetery fraud, false anti-aging products, investment schemes, telemarketing fraud, advance fee schemes, and internet fraud. The following tips provided by the FBI may help seniors avoid these common scams:
-Never sign blank insurance forms and only provide your medicare or other insurance information to individuals who have given you actual medical services. Medical equipment manufacturers commonly offer seniors free medical equipment in exchange for their medicare information. Cons may then use the identifying information to bill Medicare for services or merchandise that was never ordered or received. It’s important to be aware of any equipment your doctor has actually ordered for you. Also, review your medical bills regularly to verify the accuracy of services and equipment that were rendered. Avoid telemarketing calls that tell you that services of medical equipment are free.
-Be very cautious when purchasing drugs on the Internet. Avoid buying medications from unlicensed online distributors or those who sell medications without a prescription. Reputable online pharmacies will have a seal of approval called the Verified Internet Pharmacy Practice Site (VIPPS), provided by the Association of Boards of Pharmacy in the United States. Make sure to protect your email with a spam filter to block any internet scams.
-When making funeral and cemetery arrangements, make sure you are an informed consumer. Consider involving a friend or loved one in the planning process. All arrangements should be put into a written form. Carefully read all contracts and purchasing agreements before signing them. Inquire about contract cancellation and refund terms before signing anything. Don’t allow the vendor to pressure you into making a purchase or into signing any agreements or contracts. Also, you should know that caskets and the process of embalming are not required for direct cremations.
-Don’t make purchases over the telephone from unfamiliar companies. Check them out with consumer protection agencies before making any purchases. Beware of high-pressure tactics and the phrases “free gift, free prize, or free vacation.” Ask for a salesperson’s name, telephone number, mailing address, and business identity. Verify this information before making a purchase.
-If you have been a victim of fraud, don’t hesitate to report the crime to local, state, or federal law enforcement agencies. Your report may save someone else from being targeted by cons.
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