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KN, p. 215 “Fraud Squad: Save Grandma from Bankruptcy”
In “Grandma Bought a Half-Price Whatsit” we pointed out a few phone scams that sadly, have worked on many Senior citizens. How can we keep our Seniors safe from fraudsters? One solution is to cut down on the possible interactions with the bad guys. Here are a few easy lifestyle changes for Seniors and their honest caregivers.
If you would like to share this article with your friends or post a comment - please click here to visit full story page. - Be aware that you are at risk from everyone – family members challenged by money problems may take advantage of a Senior’s vulnerability. Choose the person to help with your money who doesn’t need it, because unfortunately, over 90% of all reported elder fraud is committed by the Senior’s own family members – including their adult children and grandchildren! There are many reports of emptied joint checking accounts, and outright theft.
- Stay involved!
- Tell people on the phone: “I never give money over the phone to a telemarketer. Send me something in writing.” Always wait until you receive that written material. Don’t donate to anyone who will only take credit cards.
- Don’t open the door to people you don’t know.
- Shred all receipts with your credit card number
- Sign up for the “Do Not Call” list and take yourself off mailing lists.
- Use direct deposit for benefit checks.
- Never give your credit card, banking, Social Security, Medicare, or other personal information over the phone unless you are the one that called them first.
- Be an informed consumer. Take the time to shop around before buying big ticket items.
- Call your bank and/or credit card company.
- Cancel any debit or credit cards linked to the stolen account.
- Reset your personal identification number(s).
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