Financial Scams Targeting Seniors, Be alert and safe
Financial scams are seen to target seniors and are prevalent as the 21st century crime. Do you know the reason why? It is because the seniors are believed to have lots of money in their accounts. This is viewed as low-risk crime, but they leave many older adults devastating and can put them in vulnerable position that they cannot recoup losses. The victims are not wealthy seniors alone, but it is also with low-income seniors who face the burn of financial abuse. The most pathetic point is strangers do not attempt such crimes and it is reported that 90% is done by their own family members, their adult children, nephews, nieces, and grandchildren. Protect yourself online with information on Medicare Supplement Plans 2020 https://www.medicaresupplementplans2020.com/
Here is a list to recognize a potential scam
- Health/Medicare insurance scams
Medicare enrollment for the U.S citizens over 65 years is mandatory for Medicare and there is nothing as scam. In these, the perpetrators approach older people posing as Medicare representative and take their personal information. They also give the senior citizens some bogus services at makeshift clinics and using the personal information pocket the money.
- Counterfeit prescription drugs
The counterfeit prescription drugs are done online as seniors try to get on specialized medications better prices. This is a scam that is gaining popularity and FDA has already found 20 and more cases. The danger is apart from shelling out money, the medical condition of the person will show no improvement and victims may spend on unsafe substances that may cause more harm. It is not only hard on the wallet, but it is painful to the body, as well.
- Funeral & cemetery scams
Scammers read obituaries and attend or call the funeral service of some stranger. This is done to benefit from a grieving widower or widow. They claim the deceased was due to pay for an outstanding debt and scammers try extorting money to settle fake debts. Another disreputable funeral homes tactics is to capitalize on the unfamiliarity of family members with funeral services cost by adding unessential charges. In one such scam, it came to notice that the funeral services became very expensive as for a direct cremation performance. This is because the cremation could have been done with a simple cardboard casket instead of displaying expensive or burial casket. There are many more scams adding financial strain and drain to the senior citizens and this calls for more awareness before shelling out money.