Elder financial exploitation is the illegal or improper use of an elderly adult or a person with a disability’s money, property, or other resources for monetary or personal benefit, profit, or gain.
And unfortunately in today’s world, it’s more common than you’d like to think.
As we’ve said before, many of the scams that target the elderly are the same ones that target others, but that’s not always the case.
Here are a few things to keep in mind:
- Be on high alert if you receive a phone call, text, or email saying fraudulent activity has been detected on your account. Avadian messages about potential fraud never include links.
- Never give out your online banking password. An Avadian representative will never ask for your online banking password.
- Be aware of false urgency, especially if the caller insists on staying on the phone with you. Scammers try to keep you on the phone until they convince you to do what they want.
- If you’re told to transfer money immediately, hang up and call your financial institution to ask about the transaction.
- If you’re asked to go buy a gift card and read someone the numbers, hang up and call someone you trust who can confirm who you’re talking with.
- Do not wire money to someone you met online and have not seen recently in-person.
- Don’t click links sent by someone claiming to offer “tech support” you didn’t initiate.
- Fraudsters are sophisticated and good at what they do. Don’t underestimate them. Remain vigilant against being manipulated. Anyone can fall for a fraud attempt.
If you think a family member, caretaker, or friend is taking advantage of you, call law enforcement, the Alabama Department of Human Resources, or your financial institution.
Equal Housing Opportunity Lender