Elder abuse comes in many forms. One trend that’s on the rise is financial scams. In fact, True Link Financial, a company that provides account monitoring software, projects that elder financial abuse may cost families as much as $36.5 billion each year!
While occasionally scammers go door-to-door pretending to be someone the victim knows, most scams occur online and over the phone. The American Bankers Association has deemed June “Safe Banking For Seniors Month,” – so we’d like to join in and offer some helpful tips for you and your loved ones!
Below are seven instances seniors should be wary of, as they likely indicate a scam.
As with any financial question, never hesitate to call your banker to verify something. If something seems fishy or too good to be true, it probably is. We're here to help.