Top Tips to Protect Elders from Financial Fraud

Financial scams targeting seniors are on the rise. Their trust and vulnerability are exploited. Scammers often use tactics like fraudulent phone calls, emails and in-person meetings to trick seniors into divulging personal information and money.

Selina Delangre, owner of Selina Naturally, knows firsthand how damaging these scams can be. A loved one recently fell victim to a scam. She and her family are now passionate about educating and spreading the word about protecting elderly family and friends from scams.

To reverse this trend, educating seniors on common scams and the ability to recognize warning signs must be a priority. Here are some top tips:

Exercise Caution: Be wary of unsolicited calls and emails. Request the ID number of any unexpected callers and check with the appropriate organizations to verify the legitimacy of the caller. To verify who is sending you emails, examine the email address, look for typos or strange phrases in the body of the email, and hover your mouse over embedded links to see if they are leading to a trusted website. Do not share personal information with untrusted sources.

Use technology: Install ad blockers and anti-phishing software to detect and block suspicious emails and websites. Keep your software and operating system up to date to prevent malware and security threats.

Safe browsing: Avoid suspicious websites and links that may lead to phishing attempts or the installation of malware.

Password security: Create strong, unique passwords and keep them confidential. Consider using a password manager or storing your passwords securely in a locked place. Implement two-factor authentication for added security.

Monitor your finances: Regularly check your bank and credit card statements for suspicious activity and report any concerns to the appropriate authorities.

Report fraud: Encourage reporting of scams to the Federal Trade Commission (FTC) and local authorities. This helps in the investigation and prosecution of scammers and contributes to a national database that tracks fraud trends.

Rely on trusted resources: Provide access to trusted resources such as the National Elder Fraud Hotline at 1-833-FRAUD-11 to report scams and get help.