The elderly are often the victim of scams designed to separate them from their savings.  Seniors are ideal targets for fraud be it over the phone, online, or in person. Theirs is a generation more concerned with proper manners and are therefore less likely to abruptly hang up the phone or close the door.   They are frequently emotionally vulnerable and anxious to help others without the proper investigation. 

Internet Fraud

More and more older adults are online but are not savvy enough to recognize e-mail scams.  An e-mail from a trusted friend urgently requesting money be sent overseas because they are stranded on a botched vacation is not easily recognizable as fake to those who are not familiar with this type of crime.  A recent popular scam is a virus that locks up your computer and presents you with a screen requiring you to pay a "fine" in order for computer use to be restored.   What's worse is that this message claims to be from the FBI and looks rather official.  It is easy to feel helpless in this situation and to pony up the funds.  To add insult to injury, paying does not remove the virus and a computer professional may still be required to rid the computer of this malware. 

Telemarketing Fraud

Seniors living alone are frequent targets of this type of fraud.  The promise of a free gift or prize is alluring to anyone.  The caller's goal is to get the money and run before the victim has had a chance to think things through and thoroughly look into the offer.  These callers are skilled in not taking no for an answer once they have engaged their prey in dialogue.

Door to Door Fraud

Even scarier is the criminal who comes to the door.  They may claim to be working their way through college by selling magazines.  They may offer some type of "deal" that the neighbor down the street purportedly just took advantage of.  These smooth talkers can be very convincing.

Addressing the Situation

The best way to prevent this type of crime from happening to your loved one is through communication.  Stay up on the latest scams yourself and then talk to your elderly parent about what to look out for in a respectful way.  The FBI website is an excellent resource.  If an older adult realizes that they have fallen victim to one of these schemes, encourage them to report the crime to the FBI at www.ic3.gov.  Frequently, seniors are too embarrassed to admit they were duped out of pride or fear that they will appear unable to continue handling their finances or living on their own.  Reassurance is key in this situation. 

Conclusion

It is easy for seniors to be victimized even if they are not cognitively impaired.  Protect them by talking about the situation and staying aware of the latest developments by visiting http://www.fbi.gov/scams-safety/fraud/seniors/seniors.  Most importantly, let your loved one know that they are not alone.