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7 Scams That Target Seniors [Infographic]

Your 1+1 Team
March 27, 2021

Watch out for these scams that especially target seniors and their vulnerabilities.

Source: Top 10 Scams Targeting Seniors, National Council on Aging

1

Medicare or health insurance scams

Perpetrators may pose as a Medicare or other health care representative to obtain personal information or to provide bogus services.

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2

Counterfeit prescription drugs

Most often, counterfeit drug scams exist on the internet. Scammers prey on seniors who seek lower costs on medications. Not only is this a financial scam, but it can lead to dangerous and unsafe medical conditions.

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3

Funeral and cemetery scams

In this wretched scam, a perpetrator scans obituaries or even attends the funeral service of a stranger to take advantage of a grieving person. The scammer may claim that the deceased owed them money and try to extort it from your loved one.

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4

Fraudulent anti-aging products

Some scammers will attempt to sell treatments or medications to maintain youthful appearances. (Ex: a Botox scam in Arizona netted the scammers $1.5 million in one year!). These can have dangerous medical side effects, in addition to financial loss.

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5

Homeowner/reverse mortgage scams

Many seniors own the home in which they continue to reside, whether or not they live with family members or in-home caregivers. Scammers will take advantage of this to send fraudulent letters, such as a fake letter from a county assessor’s office.

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6

Investment schemes

Seniors have likely planned for retirement and managed their savings accordingly. Perpetrators cheat seniors of this money through investment scams ranging from the all-too-familiar “Nigerian prince” email scam to selling complex financial products or pyramid schemes.

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7

The grandchild scam

These awful scammers will claim to be a grandchild to ask for help with rent payment, car repair, or a medical bill. Often these scammers will research actual family members in an effort to more convincingly fake their identity.

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