Fraud Awareness Keeps Seniors Financially Secure

At Prime Independent Living, we know that you’ve spent your life working hard, diligently saving, and planning for each new adventure. Unfortunately, so do those seeking to perpetrate fraud. The FBI warns that fraudsters are betting you have a nest egg and that you likely aren’t on the lookout for someone to take it. As with many crimes, one of the best ways to fight back is to educate yourself.

What types of senior scams should I look out for?

According to the National Council on Aging, scams targeting older adults are considered, “the crime of the 21st century.” One of the most common scams is a phone call from the Social Security Administration. Someone posing as a representative will claim they need to verify some information and ask you to share personal details over the phone. This request is usually coupled with a threat of legal action if the information is not provided – a situation anyone would want to avoid. What do you do in this scenario?

NCOA states that the best rule of thumb is to hang up, even if they share correct, personal information about you. Know that the Social Security Administration (or bank, or insurance company), “will rarely contact persons by phone … and they never make threats of arrest or legal action,” per the NCOA.

Another common scheme is when an individual calls claiming to be a relative (often a grandchild) in distress, and in need of money. The NCOA calls this the “grandparent scam.” Talk about pulling on your heartstrings! Thankfully, this one is also simple to handle. All you need to do is tell the caller you will call them back on the number you have for them. That’s it! If they are who they say they are, they’ll answer the phone when you return the call.

Securing Your Financial Future Today

You’ve worked hard to be able to retire with your peace of mind and finances intact. That’s why Prime Independent Living is committed to sharing the latest senior fraud prevention research.

But ensuring your financial future is about more than just being on the lookout for scammers. We pride ourselves on offering an affordable option for seniors looking to live in a community with convenient amenities and services. Reach out to us today to discover how we can achieve more together.

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