Scammers take $36.5 Billion from Seniors Each Year

I have a friend named Margaret. She is ninety-two years old and has lost most of her eyesight, but has a great sense of humor. She tells me that almost every day, she gets a phone call announcing that she has won $1,000,000.00. I asked her how she responds to such great news. She said that she immediately yells into the phone "It's not enough!" and then hangs up. Margaret is sharp and funny, and gets a kick out of the joke on her daily caller, but many older adults fall for it. A 2015 study estimates that almost $36.5 Billion is taken from older adults each year.

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Older adults are practically under siege by scammers when they answer their phones, open their mailboxes, respond to emails, or answer a knock on their front doors. Sometimes the threat is from a stranger posing as the IRS or a charity, but very often the scammer is a close family member or friend taking advantage of their kind heart.

If you have an older friend or family member, be intentional about checking in on them regularly. You don't need to pry into their finances or invade their privacy. Just ask how they are doing? Are they happy and content, or stressed out, anxious, and confused? Get a feel for their ability to take good care of themselves, eat well, manage their medications, and see their doctor regularly. Are they able to take care of their home and keep track of their possessions? Ask about how their relationships are going and ask if any new people have become important in their life.

If an older friend starts to struggle mentally or physically, he or she becomes much more vulnerable to abuse. If you sense that your friend is being abused give their closest family a call to let them know you are worried about your their welfare or contact Adult Protective Services so that they can get help.