Crimes against the elderly not only take place because sometimes criminals believe that they are vulnerable, but also because seniors are thought to have significant amounts of money in their bank accounts. Many financial scams are never found out or just go on unreported. Being charged with a financial crime against the elderly can be serious and life changing. But what are some of the most common types of financial scams that target the elderly?
Most Common Financial Crimes
Medicare and Health Insurance Scams: Since many elderly people qualify for Medicare, scam artists know to target the elderly to scam them out of money relating to their Medicare. The scammers will typically pose as representatives of health insurance to obtain information illegally.
Counterfeit Prescription Drugs: The FDA has investigated many cases of counterfeit drug scams operating on the Internet. This scam hurts the wallet and the livelihood of those who may be paying for medications that will not actually help them.
Funeral Scams: In some cases, a fake representative will call a loved one and tell them that their deceased significant other had an outstanding debt that they must now pay. Some funeral homes may also take advantage of the elderly by charging them for services they did not pay for.
Telemarketing Scams: Fake telemarketing schemes target many people every year. Elderly people are not always familiar with buying over the phone, which makes it difficult for them to fully understand what they are agreeing to or what information they are giving out.
Internet Fraud: Pop-up ads on the computer may con the elderly into downloading fake programs or paying for services that are not real. They may give information to companies that don’t actually exist.
Investment Scams: The elderly may fall victim to pyramid schemes or those involving inheritance money that does not actually exist. Protecting those who are especially vulnerable to these schemes is of utmost importance.