Senior Fraud Prevention Tips
The FINRA, or Financial Industry Regulatory Authority, recently introduced two new rules to help fight senior fraud. The first is that organizations must make every effort to seek out a trusted person for the client whom can review the investment and weed out any fraud. The second rule consists of placing a temporary hold on the funds if a financial planner believes the senior is being scammed. Then they must reach out to the trusted person and review all the information in front of them. Once these two processes are complete only then will the funds be available for the other party. These restrictions are in place since financial abuse is the second most common abuse done against seniors.
Unfortunately, seniors are often the main target for scammers. That’s why communities around the US are introducing seminars for fraud prevention for seniors. If you live in an assisted living community in Ohio, one can reach out to the local police department and request such an event. Then speak to the one whom arranges events at the community center and let them know that you’re interested in setting up a fraud prevention class.
At the Senior Comfort Guide our mission is to provide the most comfortable and secure environments for seniors. Besides for physical security it’s important that seniors understand what scams are being exploited in an online world. Older people often find themselves browsing the web when they come across a popup and it ask for some information. If one is not seeking any product or service, there should be no reason to give any personal information out. An email address is considered personal and it should be treated as private. Just as you give out your home address sparingly, so should be with your email address.
Here Are Some Common Explosions Which Populate The Web
- “Microsoft Security” pop-up telling to call support. Microsoft says that it does not ask for information through popups.
- “1,000,000” Visitor! You’ve won a prize!
- Email claiming that you are due a large sum of money
- “Phishing” emails which try to get personal information
- “Greeting Card Scams are emails that appear to be from family but are malicious
If you or a loved one are in a nursing home or assisted living facility, make it your business to reach out to them about being proactive when browsing the internet. Safe traits include adding antivirus software to your device and to get hold of a program which monitors your identity. Sometimes its best to setup older seniors with these services and as a care giver you will be worry free about them being exploited.
Best Practices for Safe Surfing for Seniors
- Change your password frequently
- Never give out passwords in text format via instant messaging or email
- We now it’s convenient, but avoid automatic login feature that saves login credentials
- Be very careful when signing into free WiFi or public computers at the library
- Review your credit card and bank statements monthly and review all charges
- Instead of paying with a check use a banks bill pay feature. The account and routing number on a check could be exploited very easily.
- Password protect your mobile device, tablet and laptop.
- Be certain that the website you’re on says HTTPS on the browser URL
A high priority should be to be a diligent senior when searching the web. The most vulnerable people for exploitation are the ones whom don’t know the dangers. The internet could be an asset if used properly. If a parent lives alone it would be a clever idea to install a filter on the desktop or tablet and white list the websites that they visit frequently. Often it’s the free style browsing that gets people in to trouble. Remember, it’s often the people minding their own business who somehow get into trouble.
Happy web surfing🏄
