Tips on How to Prevent Fraud and Scams
According to the Alberta government, financial abuse, including fraud, is one of the most frequently reported forms of elder abuse in Alberta. The reason seniors are targeted more often than any other age group is because they tend to be more trusting along with an impaired cognitive ability brought on by age, and usually with a secure money situation. A life of isolation and loneliness can also be fed upon by scammers. Unfortunately, this makes seniors the perfect target.
Some of the most common scams committed against seniors including impersonating a Government official or a business, befriending the senior, bank oversights and investment fraud. These scams are so common because they are able to prey on senior’s impaired cognitive abilities and their loneliness.
Sometimes seniors need help staying safe from scams. Caregivers and family members can help to keep seniors informed and they can provide another viewpoint on deals that seem too good to be true. Some prevention practices include visiting them to discuss their monthly bills and to check in on their bank account for any odd purchases or withdrawals.
We want to help give seniors the necessary tools to recognize a scam, who to talk to, how to report it and where to go for more information. However, it is important to keep both seniors and their families informed on how to identify fraud and how to prevent it.
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