Recognizing and Avoiding Scams at any Age

One of the many unfortunate side effects of COVID-19 has been a surge of scams. Offering everything from grocery delivery to virus test kits, scammers capitalized on people’s fears, taking their money and, in some cases, their identity as well. Because they are at a heightened risk of contracting the virus, seniors are more likely to become the victims of coronavirus scams.

Even before the coronavirus pandemic, “elder fraud” scams were all too commonplace. Over two million Americans, many of them seniors, were victims of fraud in 2018 according to the FBI. Losses were estimated to exceed more the $700 million. Criminals often target seniors because they tend to be more trusting, polite, and financially secure. Seniors are also less likely to report the fraud to authorities because of shame or embarrassment at being victimized. So, what can you do to protect yourself? Here are some tips to help you identify and avoid fraud, regardless of your stage of life.

The first and most important step you can take to avoid being a victim of fraud is to know is what a common scam looks like. Here are a few examples of scams along with some tips to avoid being duped:

1. Phone Scams: Phone scams can take many forms. Some of the most common are the IRS imposter scam, Medicare phone scam, Robocall scam, and Grandparent Scams. Each of these scams looks to exploit common vulnerabilities. It’s important to remember government services will not contact you over the phone unless they have first sent bills via the postal services. They will also never ask for immediate payment or any kind of banking information. Grandparent scams work by imitating the voices of your grandchildren asking you to wire money often to help them in an emergency. They will usually ask you not to contact their parents. Always check and verify the facts before wiring money. Also, make sure to ask the person on the phone a question that only your grandchild could answer.
2. Charity Scams: In the wake of disasters, it’s common for fraudsters to attempt to solicit donations under the guise of real charities or ones they’ve invented. The best way to protect yourself from these scams is to make sure you are donating through official channels or verify the person collecting the money is indeed registered with the organization they’re soliciting for. Also, check with the Better Business Bureau’s Wise Giving Alliance to make sure you are donating to a real charity.
3. Sweepstakes Scams: These scams begin either with an email, letter, or phone call stating you’ve won a huge cash prize. The catch is you need to pay a small fee or provide your banking information to access your winnings. This is one of the most popular scams around with a common variant being the Jamaican scam reporting that you’ve won the Jamaican lottery and only need to pay a few hundred dollars in taxes and fees to collect your winnings. Always remember you can’t win a contest you didn’t enter. Never give out your banking information in response to a contest promotion.
4. Sweetheart Scams: Every year, many Americans fall victim to romance scams. This usually happens when a con artist establishes a relationship with someone via an online dating website, takes the conversation off the site to avoid privacy protections, and then asks for money either to come to see the person or in response to some emergency. Be wary of those who claim to be in love with you but ask for money to come see you. If the person constantly pleads for cash and says you’re the only one they can turn to, it’s usually a sign their intentions are not pure. Investigate the best you can before sharing any personal information with someone you’ve only met online.

These are just some of the scams to look out for. Fraudsters are constantly evolving so it is important to remember several things:

• Never give out banking information over the phone.
• Don’t send personal information to sources you are not sure you can trust.
• Work to verify all claims and information before responding to a solicitation.

It is important to report any scam you come across or fall victim to the authorities. You can report to the FBI’s IC3, the Federal Trade Commission, or local and state authorities. This will help law enforcement spot trends, warn the public, and develop new strategies to stop fraudsters.

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At Harmony Communities, we feel strongly that each resident has a sense of home. That they come home from work and feel pride in their environment and in their place in the greater community. That families are comfortable raising children in our neighborhoods, and that couples and singles know that they belong to something bigger than their four walls. In other words, we seek to create harmony within each community, making our communities not just passable, but peaceful, safe, functional, and beautiful.