Avoid Being Scammed for Your Money

You can avoid being scammed for your money by being aware of the threats. Scams are a serious threat to the financial security and well-being of senior citizens and everyone else. Scammers often target older adults because they may have more savings, assets, or pensions than younger people. They may also be more trusting, lonely, or isolated, which makes them vulnerable to manipulation and deception.

My own rule is to ignore texts or phone calls that are unfamiliar to me.


Scammers use various methods to trick seniors into giving up their money or personal information. Some of the most common types of scams are:

Phone scams: Scammers may call seniors pretending to be from a government agency, a charity, a utility company, a tech support service, or a relative in need of money. They may ask for personal or financial information, demand immediate payment, threaten legal action, or offer prizes or rewards.

phone scam

Email scams: Scammers may send emails to seniors that look like they are from legitimate organizations or individuals.  They may ask for personal or financial information, request money transfersk or attach malicious links or files that can infet the omputer with virues or malware.

Text message scams: Scammers may send text messages to seniors that look like they are from banks, credit card companies, retailers, or delivery services. They may ask for personal or financial information, request money transfers, or direct the recipient to click on a link that can lead to a fake website or download a malicious app.

email scam

Fortunately, there are some steps that seniors can take to protect themselves from these scams and avoid being victimized. Here are some tips:

Be cautious of unsolicited calls, emails, or text messages: Do not answer calls from unknown numbers or open emails or text messages from unfamiliar senders. If you do answer a call or open an email or text message, do not provide any personal or financial information, do not agree to any requests or offers, and do not click on any links or attachments. Hang up the phone or delete the email or text message immediately.

Verify the identity and legitimacy of the caller or sender: If you receive a call, email, or text message that claims to be from a government agency, a charity, a utility company, a tech support service, or a relative in need of money, do not trust them blindly.

Ask for their name, title, organization, phone number, and address. Then, look up the official contact information of the organization or individual online and call them back to confirm if the call, email, or text message was genuine. Do not use the contact information provided by the caller or sender as it may be fake.

unsolicited text message

Ask for written information:  If you receive a call, email, or text message that offers you a prize, reward, investment opportunity, donation request, or any other deal.  Ask for written information that explains the details and conditions of the offer.  Do not pay any money upfront or provide any personal or financial information until you have reviewed the written information and confirmed its validity.  

Get involved with your financial decisions: Do not let anyone else make financial decisions for you without your consent and knowledge. Keep track of your bank accounts, credit cards, bills, and statements regularly. Review your transactions and report any suspicious or unauthorized activity to your bank or credit card company immediately. If you need help with managing your finances, consult a trusted family member, friend, caregiver, or professional advisor.

common scams

Be aware of the signs and risks of exploitation: Most elder abuse is committed by family members1, so seniors should be aware of the signs and risks of exploitation by their relatives. Some signs of exploitation are sudden changes in your finances; unexplained withdrawals from your bank accounts; missing valuables; unpaid bills; new loans or debts; changes in your wills; isolation from your friends; pressure to sign documents; threats of harm; physical injuries; emotional distress; etc. If you suspect that you are being exploited by a family member or anyone else, do not hesitate to seek help from someone you trust.

Scams can cause seniors to lose their money and their dignity. By following these tips and being vigilant and informed about the common types of scams and how to avoid them23451, seniors can protect themselves from being scammed and enjoy their golden years with peace of mind.

The reality in today's world is scams are now a part of our daily life.  The best we can do is simply be aware of them and do everything we can to protect ourselves.

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