Whether your aging parents live at home, in assisted living, or alone, it’s crucial to watch for signs of financial abuse. Remember, fraudsters can be caregivers, friends, or even family members.

How to Help Aging Parents from Falling Victim to Fraud Schemes

Here are some red flags that may indicate financial exploitation:

• Unexplained withdrawals from their accounts
• Missing items such as cash, checkbooks, or cards
• Development of secretive online relationships
• Mysterious transfers of assets
• Payments for unused services or goods
• Unpaid bills
• Inconsistent signatures on documents
• Unusual changes to wills or power of attorney
• Caregiver restricting their communications

Staying vigilant can help safeguard your loved ones.

Common Types of Fraud Schemes

Fraudsters often target older adults using various financial schemes. Here are common types to recognize:

• Romance Scams: Scammers create fake online identities, build trust through shared interests, and eventually ask for money, often claiming a crisis.
• Tech Support Fraud: Scammers impersonate tech support, claiming your computer has issues, and request personal information or payments.
• Grandparent Scams: Con artists pose as family members in distress, asking for money for legal troubles, using researched personal details to gain trust.
• Government Impersonation: Fraudsters impersonate agencies like Medicare or the IRS, claiming you owe money or need to provide personal information, often using threats.
• Fake Prize Scams: Scammers inform you that you’ve won a prize, asking for personal info or money to cover “shipping” costs, sometimes sending fake checks.
• Home Repair Fraud: Scammers offer unnecessary repair services, often asking for upfront payments and disappearing without completing the work.
• Investment Scams: Fraudsters promote fake investment opportunities, using misleading testimonials to solicit your money.
• Caregiver Fraud: Sometimes, trusted caregivers or family members exploit seniors financially, taking cash or asking for money for fictitious expenses.

Recognizing these schemes is key to prevention.

How to Talk to Your Loved One About Fraud

If you suspect a parent’s romantic partner or caregiver may be a scammer, addressing the issue can be difficult. Here are some tips to encourage caution:

• Instead of saying, “I have a bad feeling,” provide specific evidence, like unusual bank transactions or the oddity of online strangers expressing romantic interest before meeting.
• Share articles or resources about common fraud schemes, as real-life stories can serve as effective warnings.
• Be ready for resistance, especially if your parent is emotionally invested. You may need to gently reiterate your concerns multiple times. Your patience can help protect them from potential financial and emotional harm.

Reporting Financial Abuse

If you need to report fraud, either for yourself or on behalf of a loved one, contact Adult Protective Services (APS) in the U.S. Their programs are designed to protect older adults from financial exploitation and other types of abuse. In Illinois call 1-866-800-1409.

When filing a report, be prepared to provide as much information as possible, including:

• Names of suspects or witnesses
• Dates, times, and frequency of incidents
• Locations where the incidents occurred
• Descriptions of the scam

If the fraud occurred online, relevant emails or messages can be helpful. Remember to be cautious and do not click on any suspicious links.

If the abuse happened in a nursing home or assisted living facility, notify the facility’s administrator about the situation. In urgent cases, such as threats from a caregiver, contact local law enforcement.

Additionally, take steps to prevent further financial harm by notifying your bank or other financial institutions about the fraud.

Offer Emotional Support

Many older adults feel embarrassed about being scammed and may hesitate to share their experiences. If they do open up, be there to listen without judgment. Encourage self-compassion, reminding them that anyone can fall victim to fraud.

Offer your help in whatever way they need, whether it’s assisting with reporting the fraud or running errands. If they aren’t ready to talk, focus on empowering them and highlighting the positive aspects of life.

Remember, they may be processing feelings of grief or loss, so give them time. If they respond with anger, don’t take it personally; such feelings can lead to outbursts. With your support, they will gradually begin to heal.

For more information, please contact Officer Dickey or Officer Gerry at 630-551-7300.