Tag Archives: protect aging parents

Safe Aging at Home Tip: Elderly Should Beware Strangers in Uniform

Are you or your aging parents letting thieves who scam seniors in through the front door?

The elderly are ideal targets for scammers because they tend to be more trusting — especially if someone shows up at their front door wearing a uniform. Older adults who live alone, or who have begun to show signs of impaired judgement or memory are even more likely to be manipulated or intimidated.

Three recent news stories illustrate just how often seniors are opening their front doors to thieves posing as construction and utility workers, police officers, and even home health aids.

In Spartanberg County, SC, the sheriff is looking for a group of thieves who have been posing as construction workers to distract and burglarize unsuspecting seniors….

In the most recent incident… the men asked an 87-year-old Inman woman about construction “stobs,” or stakes in the ground. The woman went outside and spoke to several men, who said there was a new phone line going in around the area, an incident report said.

The woman told the men she would have to talk to her daughter and when she returned to her house, she found that the door had damaged around the knob. She asked the men to stay outside but the men pushed by her and went inside, the report said.

The men asked her where her money and prescription medication were, and they roamed her home for about 10 minutes, the report said. They later took her cell phone and ripped her phone line out of the wall before leaving. After the men left, the woman went to a neighbor’s home to call police.

Read the full story here

In Michigan, Grand Rapids police reported that a woman has been approaching seniors claiming to be a police officer to gain access to their homes…

…a 72-year-old resident walking in his neighborhood near Lake Michigan Drive NW and Collingdale avenue was approached by a woman identifying herself as a police officer and then talked her way into his house after showing a badge.

While in the house, the woman asked the intended victim about his finances and whether there was money in the home. The woman claimed she was investigating a “counterfeit ring” and said the resident matched the description. The woman got into an old white station wagon driven by someone else and took off, according to police.

Read the full story here

And in Delaware County, Penn., an elderly couple was victimized by a young woman wearing hospital scrubs who claimed she worked for the Delaware County Office of Services for the Aging…

The woman told the elderly man that she was there to check on his wife, who is confined to a bed because of medical issues, police said. The man let the woman inside and she spoke to his wife about her medical issues. After a few minutes, she left the home.

A short time later, the woman returned telling the man that her car had broken down and asked to use the phone. The man allowed her inside again, but this time the woman ran into the wife’s bedroom, went immediately to a bedside table and took a number of items, including cash and a check book. She ran back out the front door before the man could stop her. The suspect’s car was heard driving away toward Washington Street, police said.

Read the full story here

How can you tell if the person ringing your bell really works for the utility company or the police? The following safe aging at home tips can help protect yourself or your aging parents the next time a wolf in sheep’s clothing comes a knockin’ at the front door:

• Don’t open the door! You are not being rude. This is a matter of security, not manners. Whatever needs to be said can be said with you safely inside. Never allow someone you don’t know or trust to literally “get a foot” in your door.

• Beware bogus utility worker scam teams working in pairs. One thief distracts their elderly victim by convincing them to go outside to the backyard or into the basement. Meanwhile, the other thief sneaks in the front door, or pretends to go the bathroom, or to check the gas appliances for leaks. While you are busy outside, the second scammer is stealing any valuables he or she can find.

• Look for a marked utility vehicle with your local utility company’s logo in front of your house or in your driveway.  No sign of a properly marked utility vehicle is a red flag. So are unmarked utility trucks or personal vehicles with “peel off” magnetic signs.

• Don’t be fooled by what appears to be a uniform or an identification badge. Generic uniforms can be made to look official with the right patches. Besides, would you know how to tell a genuine utility worker ID or a police badge from a fake?

• Confirm any letters, door hangers, or phone calls from a utility company that say workers will be in your neighborhood or will need access to your home. Important: Look up the number in a phone book or online AND CALL THE UTILITY COMPANY YOURSELF.

Increasingly, sophisticated scammers who want to put skeptical victims at ease are giving advanced notice that someone will knock at your door — just like real utility companies. The notice may be on utility company letterhead, but the “confirmation number” may be answered by one of the scammers or a bogus recorded message. For the same reason…

• Verify any unexpected visits from utility workers or the police by calling the utility company or the police station yourself. Do not let the person on the other side of your front door give you a number to speak with their “supervisor.” Do not let them have someone call you from the utility company or the station, or dial a number for you on their cell phone. And never, ever let anyone in your home to use your phone.

• If the stranger in uniform at your door says it’s an emergency or you have even the slightest doubt that something isn’t right, call 911. The police take calls about people impersonating cops very seriously. If the gas or electric utility workers are for real, they will have no problems waiting for the police to verify their identity. And the police take calls about people impersonating cops very seriously.

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How to Protect Aging Parents from Investment Fraud

If your aging parents haven’t been victims of investment fraud or financial elder abuse, the odds are good that it may just be a matter of time.

According to a 2010 Elder Investor Fraud Survey conducted by The Investor Protection Trust, one out of every five adults over the age of 65 have been victimized by financial scams. And one out of every three older adults are getting calls from telemarketers asking them to send money or hawking lotteries and similar scams.

The elderly are favorite targets for financial fraudsters for a few key reasons:

• First and foremost, “that’s where the money is.” Older Americans who have spent a lifetime working, saving, and investing tend to have more financial assets compared to the general population.

• Stealing from the elderly is relatively easy compared to other types of fraud — especially for predatory caregivers or family members. Many times all it takes is an account number, a password, or a legal document that can be used to commit financial elder abuse. The fact that so many cases of financial elder abuse go undetected and unreported for years has prompted some experts to dub financial elder abuse the “Crime of the 21st Century.”

• Many victims of financial elder abuse are isolated, trusting, and vulnerable — traits that are all too easy to exploit for fraudsters looking for easy marks. Older adults who suffer from dementia or even mild cognitive impairments that affect their memory or judgement are at even greater risk for financial exploitation.

Another reason your aging parents may be at financial risk…

A recent survey of 600 Baby Boomers conducted by a national in-home care company, shows that many are alarmingly unprepared to help their aging parents with their finances — even at the most basis level: 34 percent had no idea if their parents have a safe deposit box or where the key is; and 36 percent have no idea where to find their aging parents’ financial information to begin with.

Important: The number of elderly victims of investment fraud is rising and is expected to keep rising as the Baby Boomers themselves get older. And we’re not just talking about falling for emails pitching winning Nigerian lottery tickets and free cruise vacations.

Even sophisticated investors can get taken. Just ask Bernie Madoff’s victims how safe they felt with their “no brainer” investment right up until their security blanket was pulled out from under them.

Protect your aging parents from becoming a victims of investment fraud. Check out these free online resources to help you get started…

Consumer Guide to Financial Self-Defense from the Certified Financial Planner Board of Standards. Red flags that your financial advisor may be committing fraud and what to do to protect yourself.

Fighting Fraud 101: Smart Tips for Older Investors from the Financial Industry Regulatory Authority. Worth the quick read just for the “Psychology of a Scam” section, which identified common tactics used by fraudsters.

North American Securities Administrators Association Senior Investor Resource Center. A superb resource. Topics include: A checklist of key questions to ask before investing; Ten tips to protect your nestegg; and Top Investor Traps.

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