This document discusses financial scams that target the elderly population. Over 90% of elder abuse is committed by family members, and seniors lose $2.6 billion per year to scams. Scams disproportionately affect the elderly because they are more vulnerable, lack education on scams, and value family relationships. If preventative measures are not implemented, scams will continue rising with advancing technology. Prevention efforts include increasing individual and family awareness, advocating for legislation against scams, and promoting the health of seniors.
Scammers will stop at nothing to get what they want, and seniors and the disabled are common prey for scam artists. Here are few tips and helpful resources to prevent scams and fraud.
Protect your Pocketbook Tips to Avoid Financial Exploitation- Mark - Fullbright
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Scammers will stop at nothing to get what they want, and seniors and the disabled are common prey for scam artists. Here are few tips and helpful resources to prevent scams and fraud.
Protect your Pocketbook Tips to Avoid Financial Exploitation- Mark - Fullbright
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Imagine someone you know and really care about, maybe its a parent, grandparent, friend, neighbor, or maybe it's you. Then imagine he or she has lost every dollar they own. Imagine they do not tell anyone because they are too embarrassed, maybe they blame themselves, that it was their fault, or they are afraid that if someone finds out, that they will lose their independence, be placed in a nursing home, or that the criminal will find out and come back to hurt them. This is a real world scenario that happens every day right here in our own community.
My #1 Complaint – My Clients Don’t Protect Themselves from Fraud and Cyber CrimAnthony Semadeni
My #1 Complaint – My Clients Don’t Protect Themselves from Fraud and Cyber Crime - Everyday of the year is Christmas for the criminal in today’s cyber-‐world. With technology making fraud and scams look more legitimate, it’s upon everyone’s shoulders to protect themselves from both online and offline business offers. Here’s my shortest bullet-‐point list of things to know in order for you to be proactive in protecting not only your financial assets, but your online reputation as well.
The Cincinnati Bar Association Investigates GrievanceBethany Recht
A Cincinnati-based attorney with nearly 15 years of experience in the legal industry, Bethany Palmer Recht joined Keating Muething & Klekamp PLL in 2010 and serves as a partner with the corporate law firm. Bethany Palmer Recht represents settlement trust trustees and qualified settlement funds, providing advice on all aspects of trust and fund administration. She also maintains affiliation with the Cincinnati Bar Association.
The Supreme Court of Ohio has given the Cincinnati Bar Association the authority to examine public complaints against attorneys as well as any misconduct. If the attorney violates the Rules of Professional Conduct, the Supreme Court may penalize him or her, and depending on the severity of the offense the attorney's license to practice law in Ohio may be revoked. Call (513) 381-8213 to reach out to the Grievance Department.
The Ohio Rules of Professional Conduct define a grievance as a violation. Conflicts of interest, failing to reply to a certified letter, stealing money from a client, lying to a client or the court, and failure to have a documented written fee contract in a contingency case are all examples of grievances. Visit Supremecourt.ohio.gov/LegalResources/Rules/ProfConduct/profConductRules.pdf to view the Ohio Rules of Professional Conduct.
Drunk driving is a leading cause of auto accidents and auto accident fatalities in Minnesota. If you drive while Impaired, you could be arrested, or worse-be involved in a traffic crash that causes serious injury or death. Our auto accident attorney will guide you the process of evaluating your case. A team will be established to determine what your losses truly involves.
Surprising Facts About Wrongful Death Cases in VirginiaAngela M. Deisley
If you need more information about wrongful death cases, get in touch with a trusted personal injury attorney in Roanoke. Contact us today for a free, no-obligation consultation at 540-345-2000.
Hazing is not limited to academic settings only; the military, professional athletes, secret societies, and sometimes workplace groups also engage in hazing rituals as a prerequisite for membership.
https://californiainjuryaccidentlawyer.com/fraternity-hazing-injuries/
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Imagine someone you know and really care about, maybe its a parent, grandparent, friend, neighbor, or maybe it's you. Then imagine he or she has lost every dollar they own. Imagine they do not tell anyone because they are too embarrassed, maybe they blame themselves, that it was their fault, or they are afraid that if someone finds out, that they will lose their independence, be placed in a nursing home, or that the criminal will find out and come back to hurt them. This is a real world scenario that happens every day right here in our own community.
My #1 Complaint – My Clients Don’t Protect Themselves from Fraud and Cyber CrimAnthony Semadeni
My #1 Complaint – My Clients Don’t Protect Themselves from Fraud and Cyber Crime - Everyday of the year is Christmas for the criminal in today’s cyber-‐world. With technology making fraud and scams look more legitimate, it’s upon everyone’s shoulders to protect themselves from both online and offline business offers. Here’s my shortest bullet-‐point list of things to know in order for you to be proactive in protecting not only your financial assets, but your online reputation as well.
The Cincinnati Bar Association Investigates GrievanceBethany Recht
A Cincinnati-based attorney with nearly 15 years of experience in the legal industry, Bethany Palmer Recht joined Keating Muething & Klekamp PLL in 2010 and serves as a partner with the corporate law firm. Bethany Palmer Recht represents settlement trust trustees and qualified settlement funds, providing advice on all aspects of trust and fund administration. She also maintains affiliation with the Cincinnati Bar Association.
The Supreme Court of Ohio has given the Cincinnati Bar Association the authority to examine public complaints against attorneys as well as any misconduct. If the attorney violates the Rules of Professional Conduct, the Supreme Court may penalize him or her, and depending on the severity of the offense the attorney's license to practice law in Ohio may be revoked. Call (513) 381-8213 to reach out to the Grievance Department.
The Ohio Rules of Professional Conduct define a grievance as a violation. Conflicts of interest, failing to reply to a certified letter, stealing money from a client, lying to a client or the court, and failure to have a documented written fee contract in a contingency case are all examples of grievances. Visit Supremecourt.ohio.gov/LegalResources/Rules/ProfConduct/profConductRules.pdf to view the Ohio Rules of Professional Conduct.
Drunk driving is a leading cause of auto accidents and auto accident fatalities in Minnesota. If you drive while Impaired, you could be arrested, or worse-be involved in a traffic crash that causes serious injury or death. Our auto accident attorney will guide you the process of evaluating your case. A team will be established to determine what your losses truly involves.
Surprising Facts About Wrongful Death Cases in VirginiaAngela M. Deisley
If you need more information about wrongful death cases, get in touch with a trusted personal injury attorney in Roanoke. Contact us today for a free, no-obligation consultation at 540-345-2000.
Hazing is not limited to academic settings only; the military, professional athletes, secret societies, and sometimes workplace groups also engage in hazing rituals as a prerequisite for membership.
https://californiainjuryaccidentlawyer.com/fraternity-hazing-injuries/
These PowerPoint presentations are intended for use by crime prevention practitioners who bring their experience and expertise to each topic. The presentations are not intended for public use or by individuals with no training or expertise in crime prevention. Each presentation is intended to educate, increase awareness, and teach prevention strategies. Presenters must discern whether their audiences require a more basic or advanced level of information.
NCPC welcomes your input and would like your assistance in tracking the use of these topical presentations. Please email NCPC at trainings@ncpc.org with information about when and how the presentations were used. If you like, we will also place you in a database to receive updates of the PowerPoint presentations and additional training information. We encourage you to visit www.ncpc.org to find additional information on these topics. We also invite you to send in your own trainer notes, handouts, pictures, and anecdotes to share with others on www.ncpc.org.
Presentation
The Art of Aging: Our Elders, Our State
Fraud Against the Elderly
Chapel Hill AAUW
9:30am-noon March 20, 2010
Chapel Hill, North Carolina
Mebane Rash, N.C. Center for Public Policy Research
The presentation is aimed at the elderly (especially those living independently & alone) their carers and aged care staff. It shows how to identify some of the treacherous scams that are targeting senior members of our community, how to avoid scams and what to do if they or someone they know is scammed.
Ulster Bank - Financial Elder Abuse Project in Ireland, 2015Age Action
As part of the Age Action / Ulster Bank Financial Elder Abuse Project in Ireland, 2015, Nichola Priestley and Maggie Hunter of Ulster Bank's Fraud Prevention unit gave this presentation on scams and fraud at a stakeholder forum in June 2015.
Protect Your Elderly Parents From Falling for Fraud
Who Scammers Target
According to a 2009 study by MetLife’s Mature Market Institute, seniors lose approximately $2.6 billion each year due to financial fraud.
People older than 50 possess characteristics that make them easy targets for financial abuse such as expecting honesty in the marketplace. It is important to educate your parents about the untruthful people behind these operations.
Signs of Fraud
Some signs that your elderly parent may be a prime target for fraud include 20 or more unknown telephone callers per day. The scammers know that a majority of the senior citizen generation rely heavily on their landlines, and will not hang up the phone as quickly as your generation.
A few Popular Telephone Scams to Look out for
If your parents are more receptive to phone calls, there is a good chance they are likely to receive junk mail letters from the same scammers.
Credit Card Company Call
This call includes an impersonator who says he’s from the credit card company and can identify the last four digits of the senior’s account number. The scammer has probably already copied the account number.
He states he is checking on a potential fraudulent purchase and he needs the senior to state the three- digit verification code on the back of the credit card. The senior should hang the phone up and immediately call their credit card company where they will likely figure out the first call was a scam.
Grandparents Scheme
When the senior answers the phone, a childish voice responds somewhere along the lines with, “Hey Grandma, do you know who this is? I’m in trouble and I need your help. Please do not tell my parents.” The grandparent should know to never immediately identify herself and the caller will give up if the grandparent challenges the caller.
Social Security Fraud
This scam involves thieves trying to steal personal information and calling the Social Security Administration and asking them to change the location to send the payment to the scammers’ bank accounts. You should make sure your elderly parents know to be aware of any request of personal information and to call the SSA whenever they suspect fraud.
Protect Your Parents- Avoiding Scams that Target the ElderlyGlass Jacobson
Eric Trautman, Head of Security for Oakcrest Retirement Community shares his insights- common scams and frauds he has seen, tips for recognizing them, ways to avoid them, and what to do if you are a victim.
Neuroeconomics Evidence for Decision-making TheoryMeiling XU
In this presentation, first it gives brief introduction to assumptions of Classical Decison-making Theory and also recently development in Decision-making field. Then it tells evidences from Neuroeconimics research supporting or objecting against assumptions of classicial Decision-making Theory, and at last it introduces a “Five-dimensional man” model based on research results which hilights the importance of personality traits acconting for intertemporal economics behavior.
Consumer Financial Protection Bureau presents an overview of financial elder abuse at the LiveOn NY 26th Annual Conference on the Transformation of Aging. The presentation includes a link to an interactive online tool that includes an "older americans" tag focusing on issues of interest to older adults, links to a section where consumers can input complaints and CFPB works to get answers from companies on these complaints. There is also an office for Older Americans whose mission is to help consumers 62+ get the financial education and training they need.
These PowerPoint presentations are intended for use by crime prevention practitioners who bring their experience and expertise to each topic. The presentations are not intended for public use or by individuals with no training or expertise in crime prevention. Each presentation is intended to educate, increase awareness, and teach prevention strategies. Presenters must discern whether their audiences require a more basic or advanced level of information.
NCPC welcomes your input and would like your assistance in tracking the use of these topical presentations. Please email NCPC at trainings@ncpc.org with information about when and how the presentations were used. If you like, we will also place you in a database to receive updates of the PowerPoint presentations and additional training information. We encourage you to visit www.ncpc.org to find additional information on these topics. We also invite you to send in your own trainer notes, handouts, pictures, and anecdotes to share with others on www.ncpc.org.
Stronger Legal Protections and Better Financial Protections for SeniorsStephen Unsworth
With a growing number of people filling the role of caregivers, the need has never been greater. Many have nowhere to turn off for guidance, even when they wish to ensure a loved one's needs and wishes are met.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Learn what to do if you paid someone you suspect of being a scammer, gave them personal information, or granted them access to your phone or computer.
Scammers are incredibly convincing. They contact, email, and text us in an attempt to obtain our money or sensitive personal information, such as our Social Security numbers or account numbers. They're also really good at what they do. Here's what to do if you paid or offered your personal information to someone you suspect is a fraudster.
During this workshop, Mr. Taylor will be discussing
how this growing crime is affecting individuals, families and small businesses.
Never before has there been a greater need for understanding identity theft and its impact.
In the workshop you will:
• Learn what ID Theft is and how to minimize the devastating effects
• Be introduced to the major types of identity theft
• Learn how to better protect personal and small business information
• Learn about restoration services and credit monitoring plans
Identity theft is the #1 consumer complaint filed with the Federal Trade Commission for 14 consecutive years. All age and socio-economic groups are affected by Identity theft. This problem is affecting a younger demographic, affecting the workplace productivity of their parents.
Watch this presentation, get educated, and find out how you can avoid identity theft.
2. ❧
Over 90% of all reported elder abuse is committed by
an older person’s own family member
Seniors fall victim to paying 2.6 billion dollars every
year in the U.S.
Alzheimer’s Society calculates that 15% of
individuals with dementia have been victims of
scams
112,500 persons
(Senior Care Scams)
Statistics
4. ❧ Individual
Emotional Stress
Financial
Health
Family
Target
Life Changing
Financial Burden
Society
Awareness
Informed
Prevention
Impact
5. ❧
Increase of incidents due to the
advancement of technology
Scams have been increasing
and more money has been
collected from elderly population
Without any preventative
measures, scams will continue to
rise
Sequence of Issue
7. ❧
Maintaining health allows for
greater capacity and reasoning
to make more informative
choices
Eliminating stress- think more
clearly
Affects family well-being
Health Promotion
8. ❧
Prevention
1. Don’t just tell your patient to hang up or throw out
the letter
Elaborate on reasons why the elderly needs to clarify
they are not interested
2. Don’t shame or blame
(Sollitto, M)
9. ❧
3. Try some reverse psychology.
This could start a conversation that helps the parent
come to terms with the scam.
4. Turn experience into advocating for other elderly
(Sollitto, M)
Prevention
10. ❧
Ask your medical what they will charge and what
you are expected to pay out- of –pocket
Be wary of salespeople trying to sell you something
they claim will be paid for by Medicare.
Always ask for and wait until you receive written
material about any offer or charity.
Carefully read all contracts and purchasing
agreements before signing and make certain that all
of your requirements have been put in writing.
(Fraud Target: Senior Citizens, 2010)
Maintenance
11. ❧
Colorado
a comprehensive senior protection bill
a provision requiring police to be trained
in recognizing exploitation and abuse of
at-risk elders
Every sheriff’s department and municipal
police agency must employ at least one
trained officer by Jan. 1, 2015.
(States Beefing Up Laws to Protect Elderly People Against Scams)
Legislation
12. ❧
Maryland
money transmitters must provide
training to certain employees on how
to recognize and respond to financial
exploitation of seniors
state already requires financial
institutions to report such cases to
law enforcement services within 24
hours.
(States Beefing Up Laws to Protect Elderly People
Against Scams)
Legislation
13. ❧
North Carolina
In 2013, a law gives courts authority to
freeze the assets of a defendant charged
with financial exploitation of a senior
It only applies if the victim has lost more
than $5,000
States Beefing Up Laws to Protect Elderly People Against
Scams)
Legislation
14. ❧
Seniors represent about 12% of the total U.S.
population but they are 30% of scam victims
It is estimated that just one in a hundred
cases of senior fraud are reported
Most of these crimes occur within the home
so they can more easily be hid from family,
friends and advisors
(AARP)
Intervention Effectiveness
15. ❧
FBI- Internet Crime Compliant Center
The IC3 accepts online Internet crime
complaints from either the actual victim
or from a third party to the complainant.
AARP
Anyone 50 or over can join or renew for
only $16
National Council of Aging
571-527-3900
Agencies & Services
16. ❧
Get involved with seniors' financial decisions as
much as possible
Never allow your elderly parent to give out (or at
least warn them against it) personal banking
information
Put the senior's phone number on the National Do
Not Call registry by phoning 1 (888) 382-1222
Teaching Methods
21. ❧
Fraud Target: Senior Citizens. (2010). https://www.fbi.gov/scams-safety/fraud/seniors
Sollitto, M. Can Elderly Scams be Prevented?
https://www.agingcare.com/Articles/prevent-elderly-becoming-scam-victims-
138455.htm
Elder Abuse: Financial Scams Against Seniors | Nolo.com.
http://www.nolo.com/legal-encyclopedia/elder-abuse-financial-scams-against-
29822.html
My Membership Resource Center for AARP Members - from account, card, joins, to
renewal info - AARP. http://www.aarp.org/benefits-discounts/my-
membership/?intcmp=GLBNAV-SL-MBCH-MEMB
Senior Care Scams.http://www.interimhealthcare.com/education-center/consumer-
health-care-education/senior-care-scams
States Beefing Up Laws to Protect Elderly People Against Scams.
http://www.pewtrusts.org/en/research-and-
analysis/blogs/stateline/2014/08/18/fighting-financial-scams-aimed-at-seniors
Top 10 Scams Targeting Seniors. (2015). https://www.ncoa.org/economic-security/money-
management/scams-security/top-10-scams-targeting-seniors/
References
