Protect Yourself from Various Forms of Fraud and Abuse

Senior woman using mobile phone while holding credit card

In today’s digital world, there are many scams affecting thousands of people worldwide, young and old alike.  However, studies indicate that financial elder abuse is rising as scammers devise tactics to target vulnerable seniors.  Although there is increased security via the Internet for fraud prevention, our personal information can be easily jeopardized, if not careful.

With these great tips,  one can be sure to avoid financial elder abuse in the future:

1) General Tips/Reminders to Prevent Fraud

  • Never give out your personal information to anyone on the phone, mail, or Internet.
  • Never respond to an offer that you do not understand.

2) Healthcare & Health Insurance Fraud

  • Be sure to guard your cards (Medicare, Social Security, and Credit Card Numbers).
  • The personal information found on these cards should not be given to just anyone.

3) Investment Scams

  • Always research or call a representative before responding to unsolicited requests.
  • In general, be wary of anyone offering a free deal.

4) Funeral & Cemetary Fraud

  • Understand contract terms, basic fees, and extra services.
  • Do not allow salespeople to pressure you into immediate purchases.

5) Telemarketing/Internet Fraud

  • As it concerns telephone and computer scams, hang up or log off if it sounds too good to be true.
  • Be alert for phone scams where the caller masquerades as your grandchild/IRS saying they are in trouble or you owe back taxes.

6) Charity Scams

  • Do not disclose any personal or financial information.
  • Confirm that the charity is state registered. Qualified charities will not ask for too much confidential information.

With more and more people devising ways to take advantage of seniors, it is essential that seniors be aware of them so that they can avoid running into a devastating situation.

Feel free to comment on any additional tips that you follow for fraud prevention. We will be happy to read your response.

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614 Old Edmondson Ave., Suite 200
Catonsville, MD 21228-3360
Toll Free:
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Maryland Office:
410-788-7070

Eastern Shore Office:
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www.nmlsconsumeraccess.org

Maryland - Lender # 06-20057

District of Columbia - Mortgage Broker # MLB179014

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