Why and How do the Elderly Get Trapped by Senior Scams?

When most people think about the elderly being trapped by a senior scam we believe that they must have dementia like Alzheimer’s disease, but that is not necessarily the case.

Seniors, in general, have kind hearts and they like to help those in need. That is why a good story can appeal to the heart of anyone wanting to make a difference. The only problem with this type of generosity is it can sometimes drain a well-meaning senior of their entire estate.

Those with dementia often have impaired judgment, causing them to forget they just gave a big donation a day or two ago and they unknowingly donate again. I had a client, several years ago, that was giving funds to a telemarketing firm with a “save the children” message. Over time they befriended her and got to know her family history. The scam artist even referred to her sister by name and reminisced with her regarding her previous career on every call. I listened in as one call was happening. She was bilked out of over $200,000 before I was called in to help. She would be coached to write a check, while the person was on the phone and place it under her doormat, which she did more than once a week!

When I stepped in as a Professional Care Manager I was able to set up a conservatorship. The responsible party chose to immediately close her account and prevent her from writing any more checks. If she happened to find a blank check, having the account closed stopped the transaction from taking place. With the help of other professionals, we moved her out of her condominium and into memory care assisted living. Where she lived very comfortably for the rest of her days. If she had given any more of her assets away, she would not have been able to afford the assisted living for the rest of her life.

My mother was the victim of a scam called the “Hi, Grandma” scam. This scam is also sometimes called “Hi, Grandpa”…then the story goes, “This is your favorite grandson” – and my mother says, “Is that you Frank?” and of course the answer is “yes”!

The story that is told to the grandparent is that the grandchild is somehow stranded or in an accident and they need $5,000. The grandparent then wires the money and never receives a call from the grandchild! I have heard this story retold almost every time I do a public presentation.

There are so many other frauds and scams that target seniors. This is why, we as family members, need to stay in touch or hire a Professional Care Manager to monitor our loved ones especially if we aren’t local to our parent. My staff and I have intervened repeatedly, just in the nick of time, before the client was taken advantage of by an unlicensed contractor or a so-called “non-profit” asking for donations. By just asking something like, “how was your day?” or “anything new?” you can get the red flags to unscrupulous individuals hanging around!

We can help you and your family with that type of monitoring if you live in the SF Bay Area, call us at (866) 760-1808

Eldercare Services has been providing Bay Area families with Care Management, Home Care Services, Advocacy, Counseling, Support Groups and Education since 1989. Visit our website: Eldercare Services has been providing Bay Area families with Care Management, Home Care Services, Advocacy, Counseling, Support Groups and Education since 1989. Visit our website: www.EldercareAnswers.com