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You are here: Home / Money and Finance for Aging in Place / Elderly Phone Scams

Elderly Phone Scams

April 7, 2016 By Mark Hager

There are a slew of new elderly phone scams being used to trick older people out of money. One such is called the Grandparent Scam. According to True Link Financial, scams like these cost older people an estimated $36 billion in a given year.

These new elderly phone scams have a unique way of getting older folks to part with their money … they prey on their emotions.

Essentially, a scammer will place a call to an elderly person and start the call by calling the person “grandma” or “grandpa”, tell them some kind of story about being in some kind trouble, then fish for other information from the person they’re talking with to keep the lie believable.

Elderly phone scams

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Then, the scam artist asks for money (typically via wire transfer), then asks that they don’t tell their parents to keep them out of trouble.

This and other types of elderly phone scams are predatory and despicable. And, we want to make sure that none of your parents (or, yourself) get taken in by these criminals.

More about elderly phone scams

You can learn more about this particular type of phone scam over at the Grandparent Scam resource page on the CallerSmart website. Including, more information about this type of scam, and what to do if you have been taken advantage of by criminals using it.

Please use that information and share it, so we can reduce the number of people being taken advantage of, and lessen the ability of these scammers to hurt older people financially.

 

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Filed Under: Aging in Place Articles, Money and Finance for Aging in Place Tagged With: elder fraud, elderly, elderly phone scams, Grandparent, Grandparent Scam, seniors

About Mark Hager

By Mark Hager
LinkedIn | Twitter | Articles
Mark is the Founder of AgeInPlace.com. He also is a consultant and mentor who helps business and organizational leaders serving older adults and their families.

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