Denise Traboulsi, MSW

Who is Really Calling? Phone and Internet Scams Targeting Older Adults

Older adults are known to be responsible consumers with large savings and good credit, which is why they are often targeted by phone and internet scammers. Additionally, seniors are more trusting of others and less likely to report being victims of financial fraud – which makes them even more vulnerable to unscrupulous callers and scammers.

According to the FBI, financial fraud of older adults totals over $3 billion annually and most commonly occurs through telephone and internet scams. FBI statistics also show a direct correlation between age and amounts stolen: The older the victim, the greater the financial loss due to fraud.

The two most common types of financial fraud committed against older adults via the phone and internet are imposter scams and identity theft. Other types of fraud through the internet that target the elderly are: 1) romance scams, 2) prizes/sweepstakes/lotteries, and 3) tech support scams.

1) Imposter scams are calls or emails allegedly from government agencies, such as Social Security Administration, asking for your personal information; 2) callers from foreign countries asking for money through wire transfers or credit cards for a relative in need; or 3) calls from seemingly charitable organizations seeking donations for victims of natural disasters. While our first inclination may be to comply or help, we need to pause and be smart consumers before we freely give information to strangers calling. A legitimate caller will never pressure you to provide personal or financial information over the phone.

The first thing to know to help you decide if a caller or email is legitimate is to know that the offices of Social Security, the IRS and other government agencies will not contact you by phone or email. If government agencies are trying to reach you, they will send correspondence through the U.S. mail. Also, governmental agencies will never make threats of arrest or legal action over the phone. When receiving requests from charitable organizations, you can always check their authenticity through the website www.guidestar.org or ask for their federal tax ID number and check them out before donating.

Trust your gut and if you feel like a call or email may be a scam, treat it as such. Reporting financial fraud is important to avoid future scams and can also protect others from being victimized. To report a possible scam, contact the Federal Trade Commission http://reportfraud.ftc.gov. For more information or assistance on consumer protection, call to speak with a resource specialist at USC Verdugo Hills Hospital Community Resource Center for Aging at (818) 949-4033 or email: aging-resources@med.usc.edu.