Keeping Seniors Safe from Scams Is Possible, But it Takes Diligence
Most of us have had an elderly parent or grandparent ask us about a suspicious email or phone call, purportedly offering a "deal" that sounds too good to be true.
The saving grace is that our loved one knew enough to stop and ask us about it — because most offers that sound too good to be true usually are.
Yet scores of seniors fall prey to internet scams every day because cyber-criminals have perfected their trade to the point where it is virtually impossible to spot the phony —especially when they have accurate information about the victim, usually acquired online.
Thankfully, cyber-investigators are continually tracking down the latest tips and tricks used by internet-thieves, especially those who target older people, in order to protect vulnerable adults.
Digital Exploitation
Tianyi Zhang et al. (2023) explored the issue of senior scams in "Elder Financial Exploitation in the Digital Age."
One of the first points the authors recognized is the increase in reports of financial exploitation of the elderly during the COVID-19 pandemic.
This was a time during which many older adults were not only worried about their health and finances, but were also isolated from loved ones.
Combined with relative unfamiliarity with digital technology for many who remained more comfortable with traditional methods of communication, older adults became uniquely vulnerable to online predators.
Zhang et al. (ibid.) also noted that in general, societal crises aside, many older adults naturally experience risk factors given their dependence on others.
These include having less social support than younger people, cognitive impairment, relying on others for basic aspects of daily living — including help with finances, and impaired financial decision making.
Although older adults are increasingly savvy about using digital technology and social media, many are still vulnerable due to some of the unavoidable risk factors that increase with age.
The Dangers of Romance and Retail
What types of scams were older adults most prone to fall for?
Perhaps some of the same ones that befell the rest of us. Zhang et al. report that romance fraud was the costliest financial scam suffered by older adults, resulting in $139 million in losses in 2020.
This stemmed from the increase in online dating, social media, and the use of other online platforms, which provided an increasingly attractive method of socializing for older adults during the pandemic.
Fraudulent suitors would engage in digital courtship with elderly prospects, preying on their desire for contact, attention, rapport, and affection, with the goal of requesting financial support for an "emergency."
Zhang et al. (supra) note that pandemic scammers used COVID-19 concerns as an additional excuse to avoid meeting in person.
Retail scams are another way thieves target the elderly.
Zhang et al. (supra) report that online shopping scams were the most common type of scam impacting older adults, with cases more than doubling during the pandemic.
They explained that with social distancing and increased online shopping, there was a spike in false advertisements on mobile apps and social media, as well as phony online stores delivering lower quality merchandise than was advertised, and sometimes failing to deliver at all.
Scammers targeting the elderly also moved from focusing on checks and cash to gift and credit cards, tracking the ways older adults were doing business online.
Laws Protecting Seniors From Scammers
Thankfully, there are a variety of laws on the books that share some common approaches to protecting seniors from financial scammers.
Because some states have laws protecting adults of a certain age as well as adults who are dependent on others, it is imperative to review the laws in your state.
This is particularly true given the different ages listed as to when someone qualifies legally as an "elder," including definitions that take age into account, along with other variables that may increase vulnerability.
Financial exploitation by strangers may also be covered by laws that address financial fraud generally.
In all cases, because the legal landscape is continually evolving to attempt to keep pace with creative criminals, it is wise to monitor any changes in state laws over time.
Knowledge of common patterns of deception along with a healthy dose of situational awareness will enable us to protect the most vulnerable, as well as ourselves.
The preceding article was originally published in Psychology Today, and is used with the premission of its author.
Wendy L. Patrick, JD, MDiv, Ph.D., is an award-winning career trial attorney and media commentator. She is host of "Live with Dr. Wendy" on KCBQ, and a daily guest on other media outlets, delivering a lively mix of flash, substance, and style. Read Dr. Wendy L. Patrick's Reports — More Here.
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