If you have elderly parents, friends or other senior acquaintances, you are probably aware that they frequently receive phone calls, mail and other communications, many of them designed to steal their money or identities.
According to the Federal Trade Commission, 28 percent of all fraud victims in 2014 were 60 years old or older. The FBI says con artists target seniors because they are likely to have a nest egg, to own their home or to have excellent credit. They may be less likely to report scams because they are embarrassed about being victims.
Many older adults are lonely, and they may be more inclined to listen to a telephone solicitor. In some cases, they may be more trusting than others. Some may believe that salespeople are young people just trying to make a living. They also can be hardened criminals who know how to build confidence in victims then take advantage of that trust.
One of the most common scams that target seniors is aptly named the grandparent scam. The victim is contacted by someone who claims to be a relative who is stuck in a foreign country and needs money to get home. The caller will use a common name in hopes that the victim has a relative by that name, or they may be vague about who's calling in the beginning in hopes of the victim giving a name they can use to commit their fraud.
Better Business Bureau advises seniors to be suspicious of such calls. They should never agree to wire money to someone they do not know. Before sending anything or offering assistance, they should ask for a number to call the person back, and check with other relatives to determine the whereabouts of the person who supposedly needs their help.
Medicare scams have been around a while. In this situation, callers may ask for personal information such as Social Security, Medicare or Medicaid numbers or for bank or credit card numbers. They may say they are trying to fix an error, that they are doing a survey, or that they are trying to sign the victim up for a new prescription drug plan. Remind elderly family members that Medicare will never call to ask for such sensitive information.
Bereavement scams target seniors who have recently lost a spouse or another loved one. They call a widow or widower and claim that their spouse left outstanding debts that need to be paid immediately. Victims may be asked to provide a blank check or credit card. Don't do it.
Other common scams include IRS impersonator scams and lottery and sweepstakes scams, both of which also often target seniors.
Better Business Bureau advises seniors or their families to notify police if they suspect fraud. If they are not sure that a call they have received is legitimate, they can check it out with BBB Scam Tracker (www.bbb.org/scamtracker/stlouis) or call BBB at 573-886-8965.
Sean Spence is the Mid-Missouri regional director for Better Business Bureau.