If you have an older loved one, you can play an important role in helping them stay safe from identity theft, fraud, and scams. By knowing the warning signs of elder fraud — such as the appearance of a new “friend” your loved one met online or via phone — you’ll be prepared to speak up and offer help if something doesn’t seem right.
Research shows that a quarter of older adults are socially isolated — meaning they may have few close social relationships with others. Sadly, scammers know this, and may try to take advantage.
But the good news is that if you have an older loved one in your life, there’s a lot you can do to help them stay safe.
By simply being involved in their life, asking questions, and looking out for warning signs, you’re adding a layer of protection against scams and fraud.
Know that any of the following changes in behavior may signal that your loved one has become victim to a fraudster:
Changes to their banking habits, including strange withdrawals, new ATM activity, and the sudden opening of accounts
A surprising new relationship, including especially one that developed online or over the phone
Unexplained credit card balances
Abrupt modifications to a will or other legal documents
Suspicious signatures on financial documents or titles
Unpaid bills
Missing money or valuables
A new proxy or power of attorney — or a new person is suddenly conducting business for your loved one without the right documentation
Mysterious transfers of assets to relatives, friends, or others
Bills for services, including medical care, that seem unnecessary, or that they never received
If you think something’s up, it’s a good idea to have a family meeting and share your concerns. Before you do, though, know that the topic of elder fraud can be sensitive for some; see our ideas for conversation starters here.
From there, you and your loved one can call our Elder Fraud Helpline at 1-855-799-2646. (It’s free for members, and if you’re not a member, it’s easy to sign up over the phone.) Our identity specialists can help you figure out if something’s a scam, provide guidance on next steps, and, in the case of identity theft, fully manage the remediation process.
Fighting fraud takes a village — and between your care and attention and our services, your loved one won’t ever have to face elder fraud alone.
