Scams and fraud have become more sophisticated, and, unfortunately, older adults are often seen as easy targets. Scammers are constantly evolving their tactics, preying on seniors who may be more trusting or unfamiliar with today’s technology.
From convincing phone calls which pretend to be from a grandchild in distress to emails that look eerily authentic, these scams often prey on emotions like fear and urgency. This leaves many seniors confused, scared, and sometimes too embarrassed to admit they’ve fallen victim.
It’s easy to see why scammers often target seniors. Many elderly individuals grew up in an era when trusting others was the norm, and they may not be as skeptical of unexpected phone calls, emails, or “once-in-a-lifetime” offers. Combine this with the fact that some may have accumulated retirement savings or home equity, and they can quickly become a prime target. Unfortunately, the emotional toll of being scammed can sometimes outweigh the financial loss, leaving elders hesitant to speak up or seek help.
Here are practical ways you can help keep your elderly parents safe from scams and fraud:
Educate Them on Common Scams
Educate your parents about the most common scams, such as phishing emails, fake IRS calls, and sweepstakes scams. Explain how these scams typically work and the red flags to watch out for, like unsolicited calls or emails, high-pressure tactics, and requests for personal information.
Strengthen Their Digital Safety
If your parents use smartphones, tablets, or computers, make sure their devices are secure. Set up strong, unique passwords for accounts; install antivirus software; and turn on automatic updates. You can also teach them the golden rule: Never click on unfamiliar links or open email attachments from unknown senders.
Regularly Review Important Documents
Make it a routine to review financial statements and legal documents with your parents. This not only helps in spotting any discrepancies that might indicate fraud but also keeps you engaged in their financial health.
Encourage Skepticism and Verification
Teach your parents to be skeptical of any unexpected contact or too-good-to-be-true offers. Encourage them to hang up and independently verify the legitimacy of any company or individual by calling back through official numbers found on websites or statements.
Limit Personal Information Exposure
Advise your parents against oversharing personal information on social media or with unknown individuals. This includes details like their address, phone number, or information about their routines.
Create a Supportive Environment for Discussions About Finances
Elderly individuals are embarrassed to admit they have been scammed. Create an open and supportive environment where your parents feel comfortable discussing any suspicious calls, emails, or other interactions without feeling ashamed.
Set Up Financial Safeguards
Help your parents set up safeguards with their financial institutions to prevent unauthorized access. This can include alerts for unusual transactions, setting withdrawal limits, or even having a trusted contact person that the bank can call if suspicious activity is detected.
If your parents have fallen victim to a scam, it’s important to act quickly. Start by documenting everything. Collect emails, transaction records, phone logs, and any other evidence that can help build a case.
This documentation will play a pivotal role in building a case and potentially recovering lost funds. Once you have a clear picture of what occurred, it’s important to report the scam to the appropriate authorities.
Start with your local police department, as a police report is often a critical piece of evidence. Additionally, report the scam to federal agencies such as the Federal Trade Commission (FTC) or, in cases involving financial fraud, the Consumer Financial Protection Bureau (CFPB).
Consulting with our elder law attorney is essential. Our lawyers can offer valuable guidance on the viability of your case and the best steps to take next. We can help you understand the legal framework surrounding elder fraud and the specific laws that may have been violated in your case.
Filing a lawsuit might be recommended if the scammer can be identified and if there is sufficient evidence to suggest a strong case. A lawsuit could potentially lead to compensation for any financial losses and, just as importantly, serve as a deterrent against future scams targeting others.
If your elderly parents have fallen victim to a scam, various legal remedies may be available depending on the circumstances:
While these situations are undoubtedly challenging, there are steps you can take to seek justice and prevent further harm. Our experienced attorneys are here to help guide you through the process of protecting your parents’ financial and legal rights. Here’s how we can assist:
Investigating the Scam
We will work with you to gather all relevant information about the scam—whether it was a fraudulent phone call, phishing email, or another form of elder exploitation. Identifying the nature of the scam is the first step toward determining the best course of action.
Recovering Lost Funds
While not all scams result in recoverable losses, we will explore every legal avenue to help your parents reclaim their funds. This might involve working with financial institutions to reverse unauthorized transactions or filing claims against those responsible if they can be identified.
Reporting the Incident
Reporting the scam is critical to preventing others from becoming victims. We can assist you in filing complaints with the Federal Trade Commission (FTC), local law enforcement, and other relevant agencies. If the scam involves online fraud, we’ll guide you through reporting it to the proper cybercrime authorities.
Insurance Claims
We can assist in making any pertinent insurance claims. This may involve communicating with insurance companies to claim losses covered under personal identity theft insurance or other relevant policies.
Restoring Their Reputation and Credit
Our team helps in taking steps to restore your parents’ financial reputation. This includes working with credit reporting agencies to remove fraudulent activities from their credit history and taking measures to safeguard their future credit.
Filing a lawsuit
Filing a lawsuit might be recommended if the scammer can be identified and if there is sufficient evidence to suggest a strong case. A lawsuit could potentially lead to compensation for any financial losses and, just as importantly, serve as a deterrent against future scams targeting others.
At first, having these conversations with your parents might feel uncomfortable. Many seniors don’t want to admit they could be vulnerable or feel they might lose some of their independence if they let someone else help manage their affairs. However, approaching the topic with compassion and framing it as a partnership—rather than taking control—can go a long way in creating a sense of teamwork and trust.
At Southern Estate Lawyers, we’re here to support you every step of the way.
If you’re worried about your parents’ vulnerability to scams or want to discuss ways to strengthen their financial and legal security, contact us at (251) 444-7000 to request a consultation.