Falling for a scam can be financially devastating and downright embarrassing. People often think, “How could I be so foolish?” I’m here to tell you that you are not foolish; you are human. The truth is scammers are becoming more prevalent and sophisticated. According to the National Institute on Aging (NIA), there are four top scams to watch out for:
- Government Impersonators – such as a fake Medicare representative
- Fake Prizes – “You’ve just won $10,000!”
- Computer Support – “Your computer has been hacked”
- Grandkids in Distress – “Your grandchild is in trouble”
If you take away one piece of advice from this, let it be: DO NOT GIVE OUT PERSONAL INFORMATION over the phone, in response to an email, text, or social media post. Revealing this type of sensitive information allows access to almost everything about you. Avoid transferring money to anyone you don’t know and trust completely, and be extremely wary of anyone asking for payment via gift cards.
It’s also wise to review all your billing statements monthly to check for unauthorized charges. If you see anything unfamiliar, call the company to verify the charge. You can also obtain free annual credit reports from the three major credit bureaus through Annual Credit Report. This can help you identify any potential fraud on your record.
While it may seem inconvenient, take advantage of multifactor authentication when offered. This provides additional protection for your electronic accounts on both your computer and smartphone.
Remember, you are in control—never feel pressured or bullied into doing something that feels financially uncomfortable. Trust your instincts. If you suspect fraud, report it to help protect others from similar schemes.
Helpful Resources
- Consumer Financial Protection Bureau (CFPB) Office for Older Americans
855-411-2372 | olderamericans@cfpb.gov | CFPB Resources for Older Adults - Federal Trade Commission (FTC)
877-382-4357 | 866-653-4261 (TTY) | FTC Consumer Information - National Elder Fraud Hotline
833-FRAUD-11 (833-372-8311) | Providing Help & Restoring Hope
Mary Albanese, Director of Lifestyle
