As daily money managers, we are trusted to keep an eye on what issues might arise for our elderly and the families who love them. Recently, there has been a major uptick in scams involving COVID-19 and issues surrounding seniors and health. It seems that any national, let alone world, disaster brings out the worst of the scammers who want to take advantage of our beloved elders.
It’s been widely reported that those over 65 are the most vulnerable to the virus. For many, these are fearful time full of anxiety and feelings of helplessness. Scammers use this fear against them.
The Federal Trade Commission is trying to stay ahead of the issue with a series of blogs surrounding the Coronavirus. We encourage you and your loved ones to read how scammers are setting up websites to sell bogus products and sending phishing emails, text, and social media posts as a way to swindle us out of our money or give away our personal information.
Cleverly written and designed to offer safety and prevention, they offer links as “bait” and contain malicious email attachments. We advise that all our DLMM families read the FTC blogs and subscribe to their email updates until this crisis is behind us. Go to the FTC Consumer Information blog here.
If you or a loved one have clicked on a phishing email, read this FTC article and follow their advice. It shows you what a phishing email may look like and what to do if you responded to a phishing attack and are concerned that your identity might have been compromised. Our internal rule is that if you do not know the sender, do not click on any attachments or links. If you get an email from the IRS, it is spam. They will send you an actual letter in the mail. If you are not expecting a package delivery, do not click on any links within the email. If necessary, make a phone call to a known telephone number you have used previously to confirm. And most importantly, delete the email!
Know that we are committed to helping our clients feel safe in these uncertain times. We are but a phone call away if you have any questions about what steps we are taking to assure that our clients’ daily money management and accounting practices are strong and secure.
With more Americans turning 65 and living longer, the opportunities for financial fraud on seniors grows exponentially. The State of Ohio is about to add add an additional level of protection for seniors this month with SB 158.