Any person can be the victim of a scam. Older adults, however, may be more susceptible to this type of abuse. Seniors tend to be retired and are more often at home when scammers call. Seniors may also be lonely and are more apt to talk to a stranger on the phone and eventually trust that stranger. They tend to have a large amount of liquid assets. They may be suffering from dementia or another mental illness and are more easily persuaded to send their money.
Scams usually begin when a scammer purchases your contact information from a third party. Have you ever filled out a form at a tradeshow? Do you have magazine subscriptions? Are you listed in the phone book? Some companies are willing to sell their customers' information for $5-7 per person. The scammers use this information to make to call, send an email, or send a letter.
Here is a list of typical scams:
You can find a more comprehensive list of common scams here.
How To Protect Yourself from Scams
It is important for you to educate yourself, loved ones, and clients on ways to prevent scams. Here are some common tools to use to prevent the scams.
You can sign up to receive alerts regarding scams here.
Make sure you educate your clients and your family members on ways they can protect themselves from these scams. The Consumer Protection Division of the Indiana Attorney General’s office is always willing to answer questions and provide guidance.
Focusing on legal issues relating to Indiana's elders as well as trust & estate planning & administration.
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