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Elder Abuse on the Rise

Elder Abuse is on the Rise 

There has been a recent uptick in financial elder abuse cases in Southeast Wisconsin. These are difficult cases to solve, and it's often tough to identify the crooks, or retrieve the funds. So please continue to be vigilant and keep an eye out for signs of elder abuse. We also have a video at the end of this article that can provide you with 3 additional helpful tips to help protect your identity and accounts.

What to look for:


Why do financial scammers target seniors?

Below is an excerpt of an article published by the National Council on Aging. 

Fraudsters and con artists tend to go after older adults because they believe this population has plenty of money in the bank. But it’s not just wealthy older Americans who are targeted. Older adults with low income are also at risk for fraud.

Financial scams often go unreported or can be tough to prosecute, so they’re viewed as a “low-risk” crime. However, they're devastating to many older adults and can leave them in a vulnerable position, with limited ability to recover their losses.

1.  Government Impersonation Scams

In government impersonation scams (also known as government imposter scams), scammers call unsuspecting older adults and pretend to be from the Internal Revenue Service (IRS), Social Security Administration, or Medicare. They may say the victim has unpaid taxes and threaten arrest or deportation if they don’t pay up immediately. Or they may say Social Security or Medicare benefits will be cut off if the victim doesn’t provide personal identifying information. This information can then be used to commit identity theft.

Government imposters may demand specific forms of payment, such as a prepaid debit card, cash, or wire transfer. Using special technology, they often “spoof” the actual phone number of a government agency or call from the same zip code (202 for Washington, D.C., for example). This can trick some people into thinking the caller is from a valid source.

2.  Sweepstakes and Lottery Scams

The sweepstakes scam is one many people are familiar with. Here, scammers call an older adult to tell them they've won a lottery or prize of some kind. If they want to claim their winnings, the older adult must send money, cash, or gift cards up front—sometimes thousands of dollars' worth—to cover supposed taxes and processing fees. Scammers may impersonate well-known sweepstakes organizations (like Publishers Clearing House) to build trust among their victims. Of course, no prize is ever delivered. Sometimes, fraudsters are able to convince the older adult to send even more money by telling them their winnings will arrive soon. Many continue to call their victims for months and even years after defrauding them out of an initial sum of money.

Continue Reading the Article from National Council on Aging

Prevent Fraud with These Helpful Tips