Elder fraud can take many forms, from unsolicited phone calls and emails to complex financial schemes.
It is the fastest-growing form of elder abuse and it is defined as the illegal, unauthorized, or improper use of an older person’s funds, property, or assets.
By educating ourselves and our loved ones, we can help protect our elders from falling victim to these scams.
Tips to Prevent Elder Fraud
- Pause Before Acting – Encourage elders to take their time before responding to unsolicited requests. Scammers often create a sense of urgency to pressure their victims.
- Verify the Source – Advise elders to independently verify the identity of anyone requesting money or personal information. For example, call a family member directly.
- Avoid Sharing Personal Information – Remind elders to never share Social Security numbers, bank account details, or passwords over the phone or online.
- Use Strong Passwords – Encourage the use of unique passwords for online accounts and assist elders with setting up two-factor authentication when possible.
- Report Suspicious Activity – Educate elders about reporting suspected fraud to local law enforcement.
- Contact Law Enforcement – If you feel there is a danger to yourself or a loved one, please contact local law enforcement or reach out to one of the resources listed below.
Common Elder Fraud Schemes
- Government Impersonation Scams – Criminals pose as government employees and threaten to arrest or prosecute victims unless they agree to provide funds or other payments.
- Home Repair Scams – Criminals appear in person and charge homeowners in advance for home improvement services that they never provide.
- Family Caregiver Scam – Relatives or acquaintances of the elderly victims take advantage of them or otherwise get their money.
- Grandparent Scam – A type of confidence scam where criminals pose as a relative—usually a child or grandchild—claiming to be in immediate financial need.
- Prize or Lottery Scams – Scammers claim the elder has won a prize or lottery but must pay a fee or provide banking information to claim their winnings.
- Investment Scams – These schemes lure seniors into investing in fake ventures, promising high returns but ultimately stealing their savings.
- Technology Support Scams – Scammers pretend to be tech support representatives, claiming the elder’s computer is infected and charging for unnecessary or fake repairs.
Resources for Elders and Families
Protecting our elders is a community effort. By raising awareness and offering support, we can help reduce the prevalence of elder fraud in Alaska. Let’s work together to ensure that our elders remain safe, respected, and financially secure.
If you suspect elder fraud or need assistance, please contact local law enforcement or reach out to one of the resources listed.