Identifying that Fraud Has Occurred
Con artists are well aware that isolated seniors are easy targets. Keeping your senior well insulated and protected from fraud is your best defense. But in the event that fraud does occur, you need to know the signs.
The key here is fine-tuning your observation skills and acting once you suspect something has gone awry.
- Elder is having a hard time paying his bills.
- Elder is writing checks to unknown parties or businesses that are out of the state or country.
- Elder is making wire transfers.
- Elder suddenly has acquired a lot of cheap items (gifts to make them think the offer is legitimate.)
- Elder is receiving more frequent calls, especially from strangers.
- Elder is acting nervous or frightened.
- Elder is withdrawn or appears afraid to talk to you.
- Elder’s bank account or savings account has rapidly dwindled.
Taking Action
Once you have identified that fraud has occurred, you must take action. If money has changed hands there are several agencies you can contact. You need to evaluate the extent of the fraud. If it’s a small amount of money (a couple hundred dollars) you might want to put protections in place, and learn from the lesson. However, if it’s a large sum of money, contact your local police department first and ask to speak to the fraud division. At this time you’ll be guided through the process. It’s possible you will need to speak to one or more of the following agencies:
- FBI
- Federal Trade Commission
- Better Business Bureau
- United State’s Attorney’s Office
- District Attorney’s Office
*Each of these departments/commissions has a division devoted to stopping fraud.
After Fraud: Helping the Elder
If you notice any of the above happening to the senior, you need to take action. The senior is going to be embarrassed and full of shame and probably afraid. Stay calm and be supportive. Whatever you do, do not yell. You need to get to the bottom of the problem and help the senior overcome the problem at hand.
This is not the time to make the elder feel any worse than she already does. Chances are that your loved one is feeling embarrassed, ashamed and fearful. Understand that the fear also stems from the elder thinking that you will find him incompetent and take away his independence. If you are concerned about cognitive function and your loved one’s ability to remain independent, make an appointment to see the primary-care physician and request a complete neurological evaluation. Do not make hasty decisions about the elder’s ability or inability to think clearly and make good decisions based on only one mistake. You need professional assistance before making any major changes to the elder’s life. If you are concerned about fraud happening again, you might have to restrict access to credit cards and large amounts of cash until you can completely assess the situation. If this type of thing is happening and the senior doesn’t have the ability to make good financial decisions, it may be time to alleviate the financial burden and take the responsibility for the money. It’s a difficult decision, but often it’s a huge relief for the senior.
