Scam-Proofing Your Loved One with Senior Care Services


Scam-Proofing Your Loved One with Senior Care Services

Today’s post spotlights the scary and harmful reality of “senior scamming.”

But it’s not all doom and gloom – read on to learn how to fight back against elder exploitation and scam-proof your loved ones with senior care services in Manhattan Beach, California.

Phishing for Nest Eggs: Email Scams Targeting Seniors

In 2018, scammers are more active and sophisticated than ever. Modern technology has made it easier than before for scammers to contact your loved ones.

Along with the usual phone scammers and that bolder breed of con artists who come knocking at your door, email fraud is on the rise. For example, a recent report warned Manhattan Beach, California residents about an email phishing scam targeting 117+ million registered Netflix users.

Here’s what it looked like:

Here’s what it looked like:

That’s pretty convincing!

Clicking on any of the links embedded in this email – Restart Membership, Help Center, or even the innocuous Contact Us – takes users to phishing sites, where they’re asked to “update” their billing and membership information. The Manhattan Beach police cautions anyone who received a similar email in the past few months to change their Netflix password and monitor their billing activity.

Given the level of sophistication that modern scammers are operating at, it’s no wonder that so many people fall for these cons.

But seniors may be at greater risk, especially those who may struggle with technology, suffer from any kind of dementia, or frequently experience loneliness. For these vulnerable populations, many of whom are sitting on “nest eggs,” the wiles of that “friendly stranger” on the phone, at the door, or behind the keyboard may be hard to resist.

Beyond the obvious financial losses, falling victim to these scams can seriously affect your loved one’s physical and mental health. A recent study by the Journal of the American Medical Association has linked “wealth shock” – the sudden, catastrophic loss of more than 75% of one’s net worth in a period of two years – to a notable uptick in all-cause mortality. Overall, wealth shock was associated with a 50% increase in risk of dying, and heightened risk of depression, anxiety, suicide, impaired cardiovascular function, and substance abuse (Pool et al., 2018, p. 1344).

And family caregivers are affected, too. According to research by the journal of Financial Decision Making and Retirement Security in an Aging World, more than 90% of informal caregivers experience a financial impact after their elder was scammed (DeLiema&Deevy, 2017). This can be understood as the loved one financially supporting their defrauded parent, who may no longer be able to afford the lifestyle they’ve grown accustomed to.

Fighting Senior Scams and Exploitation in Manhattan Beach, California

If your family is concerned about a loved one falling prey to email scams, or any other form of financial exploitation or abuse, Always Best Care Manhattan Beach can help.

Our Companion Care service includes safety supervision, which involves the caregiver screening mail, answering the phone or door, and helping your loved one block fraudulent callers and emails.

Protect your loved one from predatory callers, mailers, and visitors today by starting a free consultation with an Always Best Care Manhattan Beach representative – call 310-546-3400to speak with one now.

References

DeLiema, M., &Deevy, M. (2017). Aging and Exploitation: How Should the Financial Service Industry Respond?.Financial Decision Making and Retirement Security in an Aging World, 153.

Cooper, C., Selwood, A., & Livingston, G. (2008). The prevalence of elder abuse and neglect: a systematic review. Age and Ageing, 37(2), 151-160.

Jackson, S., &Hafemeister, T. L. (2013). Financial abuse of elderly people vs. other forms of elder abuse: Assessing their dynamics, risk factors, and society’s response.

James, B. D., Boyle, P. A., & Bennett, D. A. (2014). Correlates of susceptibility to scams in older adults without dementia. Journal of elder abuse & neglect, 26(2), 107-122.

Pool, L. R., Burgard, S. A., Needham, B. L., Elliott, M. R., Langa, K. M., & de Leon, C. F. M. (2018). Association of a negative wealth shock with all-cause mortality in middle-aged and older adults in the United States. Journal of the American Medical Association, 319(13), 1341-1350.

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