Sadly, scams targeting older people are just too common these days. Scammers have gotten pretty smart with using high-tech methods and old-school tricks to fool the elderly, but thankfully, there are some steps you can take to avoid this from happening to you. Let’s look at 18 of these scams and how they work.
Is It Real?
Whenever you get an email that looks like it’s from a legitimate company or bank, be careful. Usually, there’s something just off, which is a sign of a phishing attempt. These emails try to lure older people into giving away personal info like passwords or bank account numbers. Whatever you do, don’t click on the link to fix any supposed problems but instead, contact the company yourself.
A Fake Mortgage
Reverse mortgages seem like a great way to free up some cash, and sometimes they are, but be wary of scammers who offer deals that are too good to be true, like no-cost reverse mortgages. These will just lead to huge fees, and sometimes, you could even lose your home equity. Instead, stick to reputable banks and make sure you understand everything before you sign.
Not Who You Think
If you ever get a panicky call from your grandchildren saying they’re in some kind of trouble, you might want to check if it’s really them calling first. Scammers are using AI to fake people’s voices, and they’ll target older people by pretending to be their grandchild, claiming they need cash fast. You should set up a codeword to use with your loved ones so you know if it’s really them calling.
Wasting Your Time
If you’re thinking about selling your timeshare, then make sure you watch out for companies that promise you can sell yours quickly for a fee. What they’ll really do is just take your money and leave you hanging. You should always check the company’s track record first and be extra careful with offers that come out of the blue, especially when they claim they have buyers ready and waiting.
It’s Not Medicare
You may get a call from someone who claims to be from Medicare, and they’ll ask for your personal details to “update their records” or “continue your coverage.” Before you know it, they’ve got enough information to steal your identity or slap some false charges on your healthcare bill. To avoid this, hang up and call the official number yourself to see what’s going on.
Charity Scams
After disaster strikes, whether it’s natural or man-made, scammers will set up fake charities and tug on your heartstrings so that you’ll open your wallet. Of course, donating to charities is a good thing, but you should always check that it’s legitimate before handing over your cash. Be particularly careful with any charities that seem to come out of nowhere right after a tragedy.
Fake Medicine
If you’re one of the many seniors who takes expensive prescription drugs, then you may stumble upon a website selling prescription drugs at a fraction of the cost. Unfortunately, there’s a catch, as the meds are fake. You’ll lose your cash and also risk your life because these fake pills could be dangerous and cause some serious health issues.
The Cruelest Scam
Scammers will read obituaries and then target the grieving spouses, claiming the deceased had unpaid debts with them. It’s a scam that works because it catches people when they’re vulnerable and less likely to question a debt, especially when scammers frame it as the deceased’s final wish. As cruel as it is, these crooks can be pretty convincing.
You Haven’t Won
Unless you actually entered the sweepstakes or lottery yourself, then you can ignore any letters saying that you’ve won and that you just need to pay a “small” fee to get your prize. As tempting as the big payout is, you can’t win it if you didn’t enter it. Plus, real sweepstakes or lotteries will never ask winners to pay fees upfront.
Fraudulent Anti-Aging Products
The majority of us want to look a bit younger, especially when we get older, which is why scammers sell “miracle” creams or drugs that are supposed to make you look younger. Sadly, most of the time, these products don’t do what they promise. Once you figure that out, the scammers are long gone, and you’re left with skin irritations or allergic reactions.
Sudden Call
Don’t underestimate how deceptive smartphone scams can be. These cons involve getting a call out of the blue, where someone says they have a deal or a prize for you, and you just have to give them your credit card number. If you didn’t start the call, it’s probably best to just hang up, and if they’re trying hard to get your personal details or money, then that’s a huge red flag.
The Jury Duty Scam
Scammers will even prey on your sense of civic duty, as they’ll contact you by saying you missed jury duty and now owe a fine. But the truth is that courts don’t work like this, as they’ll send you an official summons by mail. Don’t get bullied into paying over the phone. If you’re in doubt, hang up and contact the court directly to check if you have any jury duty issues.
Bad Auctions
It’s okay to love getting a good online bargain, but you do have to be careful, as internet auction scams involve bidding on items that don’t exist or aren’t what they were hyped up to be. These scammers will use fake reviews and user accounts to make their websites look real. Unfortunately, once you pay, the item either never shows up or ends up being a cheap knock-off.
Deceptive Investments
Who wouldn’t want a quick way to increase their retirement fund? Scammers know this, and they’ll promise excellent investment opportunities with huge payouts, but they’re really just trying to take your money. Whenever you get an offer, you should always check with a financial advisor that you trust before you make any sort of investment.
No Fixes
This scam is particularly nasty. You’ll get a call from “tech support” claiming there’s something terribly wrong with your computer and that you need to give them remote access to your devices so they can “fix” it. In reality, they’re just hoping to install harmful software or get your personal information. Always be wary of unsolicited tech support calls, especially if they try to scare you into acting quickly.
Home Repair Scams
Beware of anyone who shows up at your door and says they’ll fix your roof or pave your driveway on the spot. No matter how great the deal seems, they’ll probably insist on taking cash upfront and do a shoddy job, if they do it at all. Like with most things, you should stick to known professionals or at least get a few quotes first before making a decision.
Preying On Your Heart
Loneliness is something that hits older people pretty hard and makes them vulnerable, which is exactly what romance scammers bank on. They’ll make fake profiles and try to win your trust, and then, just when they feel close enough, they’ll ask for money. It may start small and build up, or they may just ask for a lump sum, but either way, you have to keep your heart and your wallet separate. After all, real relationships build over time and don’t rely on financial support.
The “Utility Company” Scam
You may get a call from someone who says they’re from your utility company, saying you need to pay up now or your service will be cut. They’re hoping that scaring you will make you ignore your rational judgment. But remember that utility companies don’t work this way, as they’ll send notices by mail, so hang up and call the company directly.
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