In the Hispanic community, the elderly are honored and respected often living out their final years with family. They are held in the highest esteem, even more so as grandma and grandpa reach their golden years. Hispanic families are also known for caring for their elderly parents and grandparents, with little thought about ever placing them in a nursing facility.
They are protected among family members and friends, and their safety and well-being is a top priority.
In recent years due to the reach of the internet and social media, scammers have targeted the elderly with speed and ease using tactics which involve phone calls, the internet and email resulting in depleting older adults of their long-standing retirement savings.
Tactics used often involve scammers using recorded messages who sound like family members. The call involves letting the victim know that their loved one (son, daughter, niece, nephew) is in trouble and needs money. They use the recorded message who sounds like the family member as proof and talk the victim into sending money to help their loved one.
Another tactic used is calling the victim to say they have won the lottery and all they need to do to collect is to first pay taxes on the win. They talk the victim into wiring or transferring money toward a fraudulent winning ticket.
Investment scams are another way to entice the victim into a get rich scheme. Crypto and investment scams are on the rise with the aging community.
Keep mind that older adults like parents or grandparents may engage in telephone conversations with scammers because they are lonely, in need of money, or are duped into believing their family members are in trouble and need their help.
Scammers often seek to target victims’ lack of English fluency or their unfamiliarity with how government agencies and businesses operate. Scammers have been known to pose as government officials, threatening to arrest and deport immigrants if they don’t pay up.
Protect your older adults by educating them about all scams. Remind them to never share personal or bank information with anyone. Remind them that if an investment opportunity is too good to be true, it probably is.
Family members, remain active and present in your older adults’ life. Keep them informed about all and new scams. Sadly, as your family members age they are often lonely and may tend to share personal information with strangers.
If you or an older adult are suspicious about a telephone call, activity, or individual, please call the AARP Fraud Watch Network Helpline – 877-908-3360, to report any suspicious activity. Our toll-free service is available Monday through Friday, 8 a.m. to 8 p.m ET.
