The Justice Department recently announced the largest sweep of elder fraud cases in history. How can you, or a senior family member, avoid becoming a victim of fraud?
WHAT ARE THE MOST COMMON EXAMPLES OF ELDER FRAUD?
- Mass Mailings
- Telemarketing
- Investment-related
WHO ARE THE BAD GUYS?
- Global crime organizations
- A relative
- A fiduciary
WHO ARE THE TYPICAL VICTIMS?
Anyone. Financial literacy and education are not immune.
WHAT ARE SOME PROTECTION TIPS?
- Talk with family members: ex. Share your goals and needs and concerns.
- Name joint agents: ex. Co-Power Of Attorney or Co-Trustees
- Opt out of credit card solicitations: 1-888-567-8688 or optoutprescreen.com or http://www.dmachoice.org
- Activate security features on financial accounts.
- Never send money to someone you don’t know – especially on Social Media.
AND TO REPORT ELDER FRAUD?
If you suspect someone is a victim of elder fraud, contact the FTC, 877-382-4357.
