Seniors - Don't Get Scammed

If you think someone is trying to scam you on a daily basis, you are right. Scams targeting older adults have become an epidemic, according to Dr. Laurie Archbald-Pannone, who is a geriatrician with the University of Virginia, Charlottesvill, Virginia. She had so many patients who had been telling her about being scam victims that she decided to investigate.

Dr. Laurie Archbald-Pannone 

 

The Federal Bureau of Investigation (FBI) estimates that Americans ages 60 and older were scammed out of more than $3 billion in 2023. Dr. Archbald-Pannone notes that there are whole call centers devoted to targeting seniors. Investment scams were the costliest kind of elder fraud in 2023. These schemes cost victims more than $1.2 billion in losses last year.

Dr. Archbald-Pannone has a host of helpful tips for how older adults can prevent themselves from falling prey to scammers and what to do if they suspect they are the victim of fraud. She recommends all adults take a moment to do an online search when they receive any unsolicited offer to verify its legitimacy. Be particularly wary of any offer or email that claims to be urgent and requires immediate action, especially online.

The tactics of elder fraud change quickly, and it can be particularly hard for older adults to keep up with scammers’ techniques and technology. A nationally recognized advocate for seniors’ well-being, Dr. Archbald-Pannone hopes her simple tips will help ensure that people’s golden years are not tarnished by the fraud epidemic.

As with any epidemic, ‘infection control’ tools can help us limit the spread. “Much like vaccines create immunity against viruses, prevention efforts can help people build up their defenses to avoid fraud,” said Dr. Archbald-Pannone. “Be cautious of any unsolicited email, text, phone call, mailing, even in person visit, and do your research. Most legitimate businesses have some degree of web presence and, if it’s a scam, you might find others have already shared information about it.” Further, she said you shouldn’t be forced to keep secrets or lie to your family or bank.

The best advice appears to resist pressure to act quickly or make quick decisions. In 2023, Americans over 60 submitted 14% more complaints to the FBI’s Internet Crime Complaint Center (IC3) compared to the previous year. Estimated financial losses rose about 11% over the same period. Even though these numbers are grim, they may only represent the tip of the iceberg. Dr. Archbald-Pannone contends that many fraud victims never report their experiences, because they may be too embarrassed, afraid or uncertain what to do.

Fraud experts theorize that older adults are often targeted because they tend to be more trusting and polite. Further, they often have financial savings and good credit making them more attractive to scammers. Dr. Archbald-Pannone said older adults may also be less comfortable with new computer technologies and that puts them at higher risk.

More than 101,000 victims aged 60 and over reported fraud to IC3 in 2023. Victims under the age of 20 years old were the least-impacted demographic, with about 18,000 victims in this demographic reporting suspected scams or frauds to IC3. Tech support scams were the most widely reported kind of elder fraud in 2023. Personal data breaches, confidence and romance scams, non-payment or non-delivery scams, and investment scams rounded out the top five most common types of elder fraud reported to IC3 last year.

“Trust your instincts,” said Dr. Archbald-Pannone. “While there are ways we can better protect ourselves and loved ones, proactive protections are needed. People need to be informed of existing laws and protections that could be enacted or enforced. They also need to voice collective concerns to lawmakers and tech companies that protecting personal data and getting ahead of scamming efforts must be a priority.”

Never give or send any personally identifiable information, money, jewelry, gift cards, checks, or wire information to unverified people or businesses. Make sure all computer antivirus and security software and malware protections are up to date. Use reputable antivirus software and firewalls. Disconnect from the internet and shutdown your device, if you see a pop-up message or locked screen. Pop-ups are regularly used by perpetrators to spread malicious software. Enable pop-up blockers to avoid accidentally clicking on a pop-up.

Be careful what you download. Never open an email attachment from someone you don't know, and be wary of email attachments forwarded to you. Take precautions to protect your identity, if a criminal gains access to your device or account. Immediately contact your financial institutions to place protections on your accounts, and monitor your accounts and personal information for suspicious activity.

IRS Scams Continuing to Grow

If an individual receives an unexpected call from someone claiming to be from the IRS, but they have not been notified by mail about any issues with their IRS account, they should hang up immediately. The call is from a scammer.

The IRS says do not return a call using the number provided by the caller or the one displayed on caller ID. If taxpayers are uncertain about the legitimacy of IRS communications, they can contact IRS customer service for verification at 800-829-1040. Electronic scams are on the rise, with scammers sending malicious emails and texts posing as IRS representatives to steal personal information. The IRS reminds taxpayers that it does not initiate contact via email, text, or social media regarding tax bills or refunds.

Individuals should understand how and when the IRS contacts taxpayers to help them verify whether any communication they receive is genuinely from an IRS employee. Most IRS communications are initiated through regular mail delivered by the United States Postal Service. The IRS will never demand immediate payment via prepaid debit cards, gift cards or wire transfers.

Typically, if taxes are owed, the IRS will send a bill by mail first. The IRS will never threaten to involve local police or other law enforcement agencies.

The IRS will never demand payment without allowing opportunities to dispute or appeal the amount owed. The IRS will never request credit, debit or gift card numbers over the phone. Remaining vigilant and informed about these scams can help protect older adults from financial loss and identity theft. The IRS and partnering federal agencies urge everyone to be cautious, especially when dealing with unsolicited communications concerning taxes.

John Schieszer is an award-winning national journalist and radio and podcast broadcaster of The Medical Minute. He can be reached at medicalminutes@gmail.com