Senior Scams to Look Out For In a Post-COVID World

In the wake of COVID-19, many senior scams are the same as pre-COVID, but with an online component. With the help of Jennifer Pitt, a Fraud Prevention Consultant, and Certified Fraud Examiner, we shed some light on senior scams to look out for.

Jennifer states that fraud trends are usually cyclical. “Romance scams usually tend to happen around Valentine’s Day, while IRS scams usually happen closer to tax time. The rest of the scams continue as long as they work. However, tech support scams have been increasing of late with the number of people working from home or self-isolating due to the pandemic.” Jennifer warns. However, these are only two examples of senior scams to look out for. 

Tech support scams have been on the increase with the number of people working from home or self-isolating due to the pandemic.

“COVID-19 scams have mutated much like the virus itself as the pandemic has progressed. For example, when COVID first started, there were scams about people claiming to be from the CDC going door-to-door offering a vaccine (before the advent of the actual vaccine) for a price. They would insist that payment be made immediately with a prepaid card, bank- or credit card.” 

It’s easy to see why so many seniors would fall for this. Being part of the high-risk population with existing comorbidities, seniors would naturally jump at the chance to get a headstart on the virus and safeguard themselves.“Now that most people have access to the vaccine, the vaccine scams morphed into giving personal identifying information in a survey or assisting with scheduling vaccines. The fraudster again would ask for personal identifying information and payment” says Jennifer.

In a recent article, ABC News stated that: “Senior citizens lost almost $1 billion in scams in 2020, according to a recent FBI report. A total of 105,301 people over the age of 65 were scammed, with an average loss of $9,175, and almost 2,000 older Americans lost more than $100,000, the report said. By far, the elderly were being extorted the most, with just over 23,000 victims, the FBI found.”

A total of 105,301 people over the age of 65 were scammed, with an average loss of $9,175 in 2020.

Jennifer continues by stating that: “The initial COVID-19 stimulus check scam involved fraudsters mailing fake checks to victims and asking for payment or personal identifying information to verify/deposit the check. The 2nd and 3rd COVID stimulus check-related scams involved text messages and emails from the fraudster, stating they knew important information about the checks which could only be acquired by giving personal identifying information from victims.”

“There are few scams that are brand new to the market. Instead, fraudsters tend to recycle or update existing scams and dish them to unsuspecting victims.” Jennifer adds.

“The Granny Scam is a great example of a recycled scam. Someone would call claiming to be a grandchild in jail needing bail money, and this type of scam would only occur over the phone. However, in several western states (not yet in Arizona that I’m aware of), fraudsters are now going to your residence and demanding payment, which is very concerning  in itself.”

Scammers would call claiming to be a grandchild in jail in need of bail money, which would only occur over the phone.

Though several of these scams tend to impact older adults more, the fraudsters are not specifically targeting the elderly, other than the Granny/Romance scams for most scams. For the most part, these scams target everyone, and the fraudsters are just hoping someone “will bite on the line”. Unfortunately, because of trust, fear, and compassion, the elderly are often victims. 

Jennifer stresses that: “The biggest tip I can give people is to not automatically trust everything you hear on the phone or see on the internet. Question everything. Ask someone about the call you received or the email/website you saw. Trust your gut. If something looks odd or seems too good to be true, it is. These fraudsters often use fear tactics or a sense of urgency to get the victim to “act now” without thinking about whether or not this is a scam. Fraudsters are very good at what they do, and anyone can be a victim.”

Jennifer Pitt is a Certified Fraud Examiner with a Master’s Degree in Psychology and a Bachelor’s Degree in Criminal Justice. A seasoned fraud investigator and a recognized Subject Matter Expert in vulnerable elder financial exploitation,  Jennifer served in law enforcement for 15 years. Jennifer conducted criminal investigations of complex financial crimes during that time, including forgery, money laundering, identity theft, and vulnerable adult/elder exploitation. In addition, Jennifer created Voice Against Fraud, LLC to empower seniors and their families to fight against fraud.

*Disclaimer: The information contained in this blog is designed to support, not replace, the relationship that exists between a patient/site visitor and his or her immediate family, physician, or other certified care providers.