Common Scams Targeting Seniors

Seniors become an attractive target for various scams. Many scammers consider them as low-risk high reward targets. They usually have money available in their retirement funds and are considered gullible enough to be scammed.

Most seniors also rarely report being victims of fraud or scams mainly because they just to no have the time or the effort to do so. Most of them would rather let it go and hope for the best. But the best way for seniors not to be scammed is by knowing what these scammers are trying to do. This knowledge may also help the relatives of seniors to watch out over their welfare in case the elders themselves are not able to. Here are some of the common scams made to target the elderly.

Social Security Email Scams

Although many seniors can be considered as computer literate and know their way online, some may not be as capable of distinguishing which might be genuine and fake while online. It is because of this that many seniors fall for the Social Security Email scam.

This type of scam is dressed up as an email purportedly coming from the Social Security Administration informing an elderly victim that there might be certain errors mad with regards to their Social Security benefits. Elderly victims who think this might be a legitimate email would then be given a link that might lead them to a page requesting for important personal information. This information can be quite sensitive and can be used to steal the victim’s identity, access the victim’s bank accounts and cause great financial harm.

Home Repair Scams

This type of scam usually targets elderly victims who are living alone. It starts out as a typical handyman offering services to do home repair and maintenance work. After getting the trust of the victim, the so-called handyman may then try to recommend certain home repairs that the victims actually do not need and costs a lot. But because the trust has been built up, the elderly victims usually end up being easy prey for such scams.

Medicare Fraud Scams

Another common scam that also targets the elderly is Medicare fraud. Scammers just try to give the tempting offer of free medical products in exchange for their Medicare number. Once the number is given, scammers can then use it to fill up Medicare reimbursements. Another take on this scam is telling seniors that their Medicare number has expired and is required to provide the old number in order to be furnished with a new one.

 

Posted by Ardent Editor on Dec 21 2009 in Retirement Life

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