How secure is your home or business? ADT just revealed a data breach but is keeping quiet about the timing and details of what was stolen. Plus, the risks of storing cash in Cash App, AI classes for seniors, and a crucial Amazon Echo security setting you should check.
Elder fraud is on the rise – These are the most common scams
Here’s a stat that blows me away: One in every 10 seniors is a victim of identity theft each year. Americans over the age of 60 lost $3.4 billion in fraud schemes in 2023. That’s almost an 11% increase from the year before, and things are only getting worse.
As much as 68% of elder fraud cases start with personal information that’s leaked online. (I use Incogni to fix that problem for me, but more on them later.) Let’s dive into which scams hit the hardest and what you and your loved ones can do about it.
A troubling trend
Things aren’t looking any better this year, by the way. From January to May, $1.6 billion in elder fraud losses were reported to the FBI’s Internet Crime Complaint Center (IC3) — almost $300 million more than during the same stretch last year.
So, why do criminals target older adults? It all comes down to money. Crooks rightly assume many older folks have a bigger nest egg and own real estate.
Older adults are also less likely to report fraud, especially when they feel ashamed. For every case of elder fraud reported, as many as 44 cases aren’t. If they do want to report it, many scam victims don’t know where to start and stall out after contacting their local police department.
Worst of the worst
Here are the top reported elder fraud schemes, according to the FBI:
- Tech support scams: Fraudsters pose as tech support agents to trick victims into handing over personal info or paying for scam services.
- Data breaches: Everything from passwords to Social Security numbers end up posted for sale on Dark Web marketplaces.
- Romance scams: Scammers woo their targets and manipulate their emotions to get their money.
- Investment scams: Promises of high returns from trading everything from crypto to real estate with little risk, all that go bad.
- Non-payment or non-delivery scams: Victims order something online and then receive a cheap imitation or nothing at all.
- Government impersonation scams: Bad guys pretend to be police, IRS agents, Medicare employees and others in positions of power.
In 2023, tech support scams were the most widely reported type of elder fraud. Roughly 18,000 victims ages 60 or older reported incidents to the IC3. Investment scams were the costliest, with a staggering $1.2 billion in losses.
‘Yikes, OK. What can I do about it?’
Be on the lookout for the common warning signs of a scam, such as unsolicited calls or texts, strangers contacting you on social media, requests for personal information, offers that sound too good to be true, pressure to act quickly, and demands for payment through unconventional methods (e.g., gift cards, gold bars or wire transfers).
Taking care of aging parents? Here's a simple way to keep an eye on what's happening
Independence, safety and peace of mind. These are the most important elements for seniors living at home and their loved ones. Parents who wish to maintain their independence by living alone can be a double-edged sword. You’re happy they’re still self-sufficient, but you’re nervous about what can happen in an emergency.
With this news, let’s give a nod to the world’s oldest man: John Tinniswood died this week at the age of 112. John said there wasn’t any secret to his record-breaking longevity, describing it as “pure luck.” He added, “If you drink too much or you eat too much or you walk too much — if you do too much of anything — you’re going to suffer eventually.” I agree. RIP, John.
No. 2 most-prescribed drug
For older adults is linked to bone loss. A whopping 23 million Americans take Levothyroxine. A Johns Hopkins Medicine study found it may lead to osteoporosis. Chat with your doc if you take this medication and ask what you can do.
The best Windows feature you’re not using yet
Tech problems can be pretty complex, which makes them hard to describe over the phone. A built-in Windows tool you may not know about helps both parties to find a solution more effectively. Steps Recorder boosts long-distance understanding.
3 smartphone tech tips everyone over 50 must know
Embracing the digital age can improve your life, both personally and professionally. But it can be hard to keep up with the crowd if you didn’t grow up with high-tech gadgets like smartphones or tablets. That’s why we’re sharing a few tech skills all folks over 50 should know.
97 years old
Isn’t too old for cheerleading! Ilagene Doehring got a blast from the past when Michigan’s Merrill High cheer team surprised her at her nursing home. Over 80 years after her stint as a high school cheerleader, she joined the squad for a performance. You have to see the video! What did the cheerleader drink before the big game? A root beer!
5 seconds
If you can’t balance on one foot for that long, you have a higher fall risk. Falls are the leading cause of injuries and injury-related deaths in older adults (paywall link). One easy way to improve your balance is to stand on your nondominant leg while brushing your teeth. If you can last for 30 seconds, you’re doing great. Hold onto something if you’re wobbly, though, OK?
⚠️ Targeting older adults: A 76-year-old man was duped out of $740,000 by criminals pretending to be government officials (paywall link). He had trouble logging into his retirement account and received a message from the firm (complete with a legit logo), telling him to call the fraud department. He sent money via bitcoin, wire transfers and gold to “secure” places. PSA: Government agencies will never call and tell you to move your money.
81 years old
The age of a Georgia woman who recently voted for the very first time with the help of her niece. Her husband said she didn’t need to vote … or even learn to read or write. Now that he’s passed away, she’s doing things she’s never done before. Good for you, Betty!
The gold bar scam
There’s a scam raking in $3 billion a year in America. It’s not just targeting seniors; even tech-savvy people are getting duped.
Tesla traps toddler inside after battery dies
A girl was saved from a Tesla Model Y in 100-degree weather in Arizona. Plus, two Florida seniors were scammed out of $400,000 in gold, and there’s a nationwide coffee recall. Plus, we talk to Brian Morrison, creator of Free Blockbuster — it’s like those little free libraries, but for movies.
⛔ Senior scam alert: Two Florida seniors were duped out of $400,000 in gold by a phone scam. Someone called pretending to be a government agent, warning there were illegal activities on the seniors’ Amazon accounts. The con artists said the victims could avoid jail by buying gold bars and taking them to a dropoff location. Folks, the feds will never ask for gold, crypto or secret payments.
Facebook $ scam, gas tanks vs. EVs & "grandfluencers" take charge
Plus, I’ll be helping Fred from Texas with AI-powered tips and tricks for seniors. Discover how Google Maps mistakenly led cars into the desert. The truth about where the U.S. gets its news, why cell reception is getting worse, and how to find any Wi-Fi network’s password.
5 useful apps every senior should download
Do you have seniors in your life who don’t take full advantage of their smartphones? It’s pretty standard since not everyone grew up with these technological wonders. Tap or click here for hidden apps on your smartphone and how to find them.
How to get a hotel room cheaper than the best price online
Here’s my spending philosophy: If you can get something cheaper, it’s worth a little effort. Of course, I like tools that do the hard work for me. Tap or click for an online shopping helper to find discounts that work.
Grandma conned out of $25K helps catch the criminals behind it
Seniors are often the target of scams, where criminals use a sense of urgency to con grandparents out of thousands of dollars. One of the scams seniors fall for most is the fake arrest of a grandchild.
Read on for details on this devious scam and how one grandma fought back.
Setting up a new PC? 5 must-do steps for seniors
Social media platforms are aimed at a demographic, commonly teenagers. What about other groups such as seniors? The AARP backs a platform designed for seniors to interact and share common interests. Tap or click here to learn more.
Best gigs for seniors to make extra cash without a 9 to 5 job
You may need or want to make some extra money after you’ve retired, but it can be tough to find full-time, in-person work after being away from the employment scene for a while. Not only are jobs hard to come by, but competition is stiff.