Computer Innocence
Seniors weren’t raised
with computers and tend to be less savvy to hackers’ tactics. For example, they
may not question the authenticity of a pop-up window that say their computer
has a virus, and they need to call a number or click on a link to fix the problem.
Microsoft estimates 3.3 million Americans across all age ranges fall victim to
tech support scams each year with annual loss of $1.5 billion.
Virus Vulnerabilities
In a late 2016 survey by
Home Instead, Inc., approximately 20 percent of U.S. and Canadian seniors in
their 70s or older, said they weren’t using any anti-virus software on their
computers. Those who do have anti-virus software installed on their devices may
not be updating their software or staying current on other, more effective services.
Financial Factors
Seniors typically fall
into two categories: access to liquid financial assets or large “nest egg” or
haven’t saved sufficiently fearing outliving their assets. They also tend to
have good credit ratings. These factors and others make them attractive targets
for investment scams or “claim-your-prize-now” schemes.
Social Media
Social media helps
seniors feel connected to long-distance friends and relatives. Facebook is the
dominant social media for most seniors. It’s also a convenient way to fill
voids in other social interactions, potentially setting seniors up for
accidentally “oversharing” personal information, which makes them easier
targets for scammers.
Trusting Nature
Many seniors like to help
people and have big hearts. People raised in the 1930s, 1940s, and 1950s were
often taught to be polite and trusting, rather than skeptical. They’re
generally more likely to help others without doing background research on the
individual or charity in question.
They’re also more likely
to go out of their way to help relatives, which sets them up as victims of
scammers impersonating a family member with a medical or overseas “emergency”
that requires immediate funds.
Seniors also fall victim
to family members who don’t have their best interests at heart. According to
the National Council on Aging, in nearly 60 percent of all elder abuse and
neglect incidents, the perpetrator is a family member, typically an adult child
or spouse.
Cognitive Impairments
Scammers are well-versed
in manipulation and description techniques, which can be even more effective
with seniors, who may have some degree of cognitive impairment.
Time on Their Hands
Many
seniors have plenty of time to talk—and may be lonely—which makes them more
vulnerable to scam artists who befriend them or pretend to have a romantic
interest, later milking them for money. More than a third of seniors surveyed
in the latest National Poll on Healthy Aging said they felt a lack of
companionship at least some of the time, and 27 percent reported sometimes or
often feeling isolated.
Medicare
In the U.S., where
Medicare provides medical insurance for people ages 65+, scammers may
masquerade as Medicare officials attempting to:
- “Verify”
Social Security numbers (and steal this personal information)
- Obtain
Medicare numbers (to purchase medical services or reimbursements)
- Acquire
other useful personal and financial information (claiming to send free medical
equipment)
Scammers may also
threaten loss of coverage if the information isn’t provided, claiming it is
required due to new policies, addendums, or a need to send a new, updated card.
When in doubt call Medicare directly.
Prescription Drugs
Since seniors are often
on a fixed income and may face higher prescription drug expenses than the rest
of the population, they are more likely to order prescription drugs online to
save money, potentially falling victim to dangerous counterfeit prescription
drug scams.
Online Pharmacies
The Food and Drug
Administration (FDA) has been investigating a growing number of counterfeit
prescription drug operators each year. What’s the best way to ensure an online
pharmacy is safe? In the U.S., make sure the answer is “yes” to these four
questions: 1) Are they licensed to
operate in your state? 2) Do they require a doctor’s prescription? 3) Do they
have a physical address and phone number in the U.S.? 4) Do they offer a
licensed pharmacist to answer questions?
According to the U.S.
Department of Health and Human Services, in every year from 2009-2016, for
example, seniors faced $3,288 average total expenditures, compared to $1,539
for younger people.
Home Ownership
Seniors are more likely
to be homeowners, which makes them potential targets for related scams,
including pitches to reduce your property taxes by having your home’s value
reassessed—for a fee.
In the so-called
“woodchuck” scam, fake contractors convince seniors, living alone, that they
need expensive tree-trimming services, a new roof, or other costly home
projects, subsequently fleecing them for thousands of dollars.
Senior homeowners are
also vulnerable to scams involving reverse mortgages or home equity loans.
Family members caregivers, and home repair companies will encourage seniors to
borrow excess equity then proceed to relive the homeowner of their funds.
