It could be surprising that major parts of elderly scams are committed by family members, friends, or caretakers. According to Daniel Klibanoff, half of elder fraud cases are perpetrated by strangers, and half of them the involvement of family member, friend, etc., who knows everything about them. These scamming techniques mostly happen through online mediums like email, social media, or other communicational mediums. Because most elders are unaware about newly tricks of scammers, they fall into their trap easily. So Daniel Klibanoff has talked about some scamming schemes which are used to scam older adults.
Fraud Schemes Used By Scammers
Daniel Klibanoff has told some tricks and schemes used by the fraudster, so those elder scans stay alert if they get in the same situation.
Investment fraud: Most scammer who aims to trap elder for fraud has two major reasons. First, Lots of seniors live on a fixed amount of pay, and they can use more money if needed. Second, Elders have access to lots of money because that old age is the period when they use their lifelong earned money.
Scammers use fraud tricks to seek out money from people by promising them much greater rewards down the road. Many fraudsters observe and scam older adults over investment plans. They show them a more delightful future where their family can live with wealth. Daniel Klibanoff has said that older adults need to pay attention to schemes and where their money is going.
Insurance Fraud: insurance scams are popular; in these scams, fraudsters show older people a promising future. Daniel Klibanoff has said that the insurance agent is legitimately licensed in some cases, but they try to scam older adults.
Grandparent scam: People love their grandchildren and help them in every way. The fraudster uses this factor to scam elderly people. In this scheme, the scammer calls a senior and claims their grandchild urgently needs help. Most callers will ask for money to help their grandchild. They create an environment where seniors panic so they can’t question the scammer’s identity. In some cases, the scammer calls seniors and claims their grandchild; on the other hand, seniors with weak memory due to old age fall into their traps.
Health Scams: Due to old age, the elder suffers from health-related issues. The medical bills went so high that people tended to take services from an inexpensive place. The scammer knows this thing and promises the older adults get the best medication or medical services at low prices. A lot of elders fall into this trap and lose money.
End Note
The above-given scams are popular scams used to fraud seniors. Daniel Klibanoff has told us about these scams so elderly adults can stay aware and avoid them. You can learn much about these scams on his website. So visit it to gain additional information on this matter.
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