Many scams target senior citizens, as they are often more likely to make a rash and uninformed decisions than younger people. Despite the best efforts of the federal and state governments, there’s no way to completely eliminate these scams.
Here are four of the most common senior fraud scams:
- Medicare scams: This typically entails a person posing as a Medicare or health care representative claiming they can help a person obtain benefits. This prompts the individual to share personal information, which is then used to steal their identity.
- Counterfeit prescription drugs: Senior citizens are typically on the lookout for ways to save money. This often leads them to search for lower cost prescription drugs. However, there are many scams involving the sale of counterfeit drugs. Not only does this impact a person’s finances, but it can also affect their health.
- Telemarketing scams: These scams change by the day, with most designed to take advantage of senior citizens who may have hearing issues and not be 100 percent sure of what the other person is saying to them.
- Lottery scams: A scammer notifies a person that they have won the lottery or some other prize. They tell the person that all they need is their bank account information to wire the money. Of course, their primary objective is to steal this information for personal gain.
If you or a loved one has been the victim of a senior fraud scam, collect as much information as possible. From there, learn more about your legal rights and the steps you can take to seek compensation.