Fraud Protection for Seniors

It happens all the time- and sadly the elderly are most often the victims.

I’m talking about scams geared towards milking money out of seniors.

A few weeks ago it almost happened again. Luckily, due to the alert intervention of the manager of People’s Bank in Mill Creek, Bridget Barrington was able to help a customer avoid getting scammed out of $2000.

The customer had received a phone call from someone claiming to be her boyfriend’s grandson. He said he was out of the country and had broken his nose and needed money wired to him.

The client at first resisted, but the caller was persistent and was able to persuade her that he was desperate for the money.

Fortunately, for the bank customer- the teller at People’s Bank noticed that a withdrawal of $2000 was highly unusual and asked about it.

After hearing the details, the bank immediately knew something was suspicious and stopped the transaction.

Amazingly, the bank manager stated, “We see this as a growing phenomenon.  It’s very scary to think our customers could be victims of this.”

It’s important for seniors to be very wary of anyone calling and asking for money.

Another scam I’ve recently heard of was thieves calling seniors and claiming to be an official from the court system. They then accuse the senior of missing their assigned jury duty. The senior will respond they never got a letter regarding jury duty. At that point the scammer will say, ‘well- let me check my records, give me your social security number’ and the senior will willingly hand over this information. At this point, their identity has been stolen- it’s that easy.

One way to prepare yourself against these scams is to hire a consultant to assist you in money management and fraud protection. One local company, Liz Mulligan- Fraud Resolution for Seniors does this and more. To find out more about her services, click here.

Be careful, it’s your hard earned money and in one quick phone call, it can all be gone.

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