Scams targeting elderly people are, unfortunately, some of the most common and successful ones. According to the American Journal of Public Health, in the US, approximately 5% of the elderly population falls victim to some type of scam every year. Scammers often choose seniors as their victims, especially in the online environment, as they are less aware of dangers and don’t use cybersecurity measures (antivirus, strong passwords, etc.) Here are some of the top cyber scams that target the elderly. Knowing them is the first step in being able to avoid them.
Lottery or Special Prize Scams
Many internet scams are disguised as prizes. These scams take advantage of people’s enthusiasm, especially among the elderly who may be less reluctant to click a button that says ‘you’ve won. Many of these scams are justified by certain milestones, for example, visitor number 1,000,000 who reaches a website is entitled to a prize. Other ads simply state that you’re a random lucky winner. Whatever the case may be, it’s never a good idea to click on an ad or link that promises a prize for something you’ve never participated in. Once you try to get the alleged prize, different things can happen, you can download a piece of malware on your computer or be asked to provide your personal and bank information, both of which may enable hackers to carry out cyber fraud.
Phishing Emails
This type of evergreen scam targets people of all ages. However, seniors might be more at risk, especially if they don’t use their email very often. A phishing email can take different forms. It can be disguised as an offer from a company, an order confirmation, an investment opportunity, or even a newsletter. These emails either ask for your personal information directly, in order to enable you to access the product they promise or contain a link or attachment you have to click on to learn more about the offering. Once you click on that link or attachment, you download malware that can damage your computer or ransomware that could access sensitive information you store on your PC such as bank account information, insurance information, tax files, etc.
Counterfeit Prescription Drugs
Many seniors need treatments for chronic diseases and scammers even take advantage of this situation to prey on them. Counterfeit prescription drugs are the bait scammers use to convince seniors they can help them get the drugs they need at lower prices. Sometimes, those who sign-up for the deal and pay for their medicine don’t get anything in return. Sometimes, they get placebo pills, which is quite dangerous given that many seniors’ lives literally depend on the pills they take daily. Scammers also use these schemes to get insurance numbers or personal information.
Social Security Impersonation Scams
This scam is taking advantage of people who might not be aware of how the Social Security Administration (SSA) works. Fraudsters send emails impersonating employees of the SSA and say that the person has a problem with their social security number, for example, it was suspended. Another tactic is to tell victims they have information about their new security card. In order to find out more, scammers say they need to verify some information and ask for the victim to provide their name, social security number, or other information.
Scams involving a security card usually aim to persuade people to provide their bank info or even make a wire transfer for the alleged new card. To avoid these scams, it’s important to remember that the SSA will never email or call you, nor will it ask for a fee for a social security card. To understand whether you’re dealing with a scam or not, seniors can call the SSA Inspector General.
Dating App Scams
Unfortunately, many seniors are alone and vulnerable precisely for this reason. Nowadays, it is not uncommon for the elderly to use dating apps too. Scammers often create fake profiles on these apps and start chatting with seniors. After gaining their trust, they ask for money for different reasons. Another scam carried out through dating apps is asking people to invest money in some type of safe stock that promises high returns. No matter what a potential partner you’ve met on an app says, if you’ve never talked with them in person, transferring money is not a good idea.
There are many different variations of the fake cheque scam but they all rely on the same simple mechanics.
A person or organization you don’t know will send you a cheque, often for thousands of pounds, and ask you to wire some of the money immediately back to them or onto another party. However, the cheque you deposit into your bank account is counterfeit, so the funds you transfer to the other person are your own. The fake cheque then bounces and you are left out of pocket.
The fraudster will either make an overpayment by cheque or ask you to send money to a third party. They will always have some explanation as to why you can’t keep the full value of the cheque, and it’ll usually be quite convincing.
They might tell you that they need you to send the money to cover handling costs or taxes or to buy supplies on their behalf. But whatever the explanation, the requirement to send money onto another account is the telltale sign of a fake cheque scam.
After doing a little digging, Angie found that her father had sent the woman more than $700,000 over a course of two years; practically his life’s savings. Unfortunately, this is not uncommon. The Council of Better Business Bureaus has compiled a list of the most ‘risky’ scams, based on how likely people are to be targeted, how likely they are to lose money and how much they’ll typically lose, and the fake cheque scam comes in second place.
There are many different types of cyber scams targeting the elderly. To avoid them, the general rule is the same – be wary when someone you don’t know asks for your personal or bank details or for money over the internet.
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