Scammers’ Deceptive Tactics Targeting Seniors: A Closer Examination

Scammers’ Deceptive Tactics Targeting Seniors: A Closer Examination

1. Preying on the Socially Disconnected

Fraudsters often zero in on elderly individuals who live in solitude. Uncovering this information can be as simple as perusing obituary notices or analyzing social media profiles. These perpetrators are well aware that those who are socially detached are less inclined to consult with a family member who might notice something amiss.

Feelings of loneliness or grieving over a loss significantly heighten the susceptibility of older adults to financial deceit. In times of sorrow and struggle, it’s all too easy to fall into conversation with a seemingly amiable voice on the other end of the line. The lure of monetary gain or the promise of free prizes can be especially enticing under such circumstances.

How to Safeguard Your  Money From Scammer:

Should an interaction with an unfamiliar person via phone, email, or text leave you feeling uneasy or unsure, refrain from taking further steps. Instead, reach out to someone you trust—a family member, a friend, a neighbor, or a representative from your local senior center. Share your experience with them and seek their counsel. Discussing the situation can help both you and your confidant spot warning signs before any harm is inflicted.

One of the most crucial actions you can take is to encourage everyone to have a strategy for consulting someone else before they respond.

2. Impersonating Authorities

Many of us were brought up to respect authority, and scammers exploit this to their benefit. This is why numerous scams directed at seniors involve individuals pretending to be authority figures, pressuring the victim to comply with their demands. Here are some examples:

- You receive a call from someone asserting they are from the Internal Tax and Revenue Service or the Local Bank Agency, etc. They forcefully claim that you owe substantial taxes, fines, or fees and threaten legal action if you don’t comply.

- A text message, appearing to be from your electric utility provider, informs you that your bill is overdue. The sender warns that your service will be disconnected if you do not pay immediately.

- An email alert, seemingly from your bank, notifies you of an issue with your account. The email instructs you to verify your account details to rectify the “problem.”

**How to Safeguard Your Finances:**

The first step is to verify the legitimacy of the organization or agency attempting to contact you. Do not rely on Caller ID for this, as phone numbers, email addresses, and even websites can be falsified to mimic legitimate entities. Instead, reach out to the organization directly using contact information from their official website. Explain the communication you received and ask for verification. Remember, government agencies typically do not contact individuals via phone, email, text, or social media to request personal information or payments.

3. Creating a False Sense of Urgency or Scarcity

A time-tested method used by scammers is manufacturing a sense of urgency around a situation. Their objective is to prompt you to act impulsively, without thoroughly considering the implications of their request. They might use phrases such as:

- "This price is only valid for 24 hours."

- "The product is in limited supply and will soon be unavailable."

- "This offer is only available to a select few."

Additionally, they may threaten negative consequences if you don’t act, such as:

- "You could face arrest or incarceration."

- "Your bank account will be frozen."

- "Your utilities will be disconnected."

- "You’ll miss out on a substantial financial opportunity."

**Beware Prices That Significantly Lower Price Than its Market Value:** 

If a deal seems too enticing—such as a product being offered at a significantly lower price than its market value—this should immediately raise your suspicions. Even if you feel an urge to respond, pause, take a moment to breathe, and ask questions. Gathering all the pertinent information can help you avoid making decisions driven by emotion rather than reason. 

Should you decide to make a purchase or engage a service online, it’s advisable to use a credit card as your payment method. Most major credit cards offer built-in protections against fraudulent transactions. This is not the case with online payment platforms like Zelle®, Cash App, or Venmo, which function similarly to cash transactions. If something goes awry, recovering your money may be difficult. Therefore, it’s crucial to only send money to individuals you know and trust when using digital payment options.