During the pandemic, the number of financial frauds in the elderly grew heavily worldwide. Known as social engineering, which aims to obtain sensitive personal information, the elderly are often victims of financial scams. To avoid estate fraud, you should have firms like barr & young attorneys amongst take care of the elder for you.
Currently, 74% of banking transactions are carried out through digital channels. This has increasingly attracted the attention of swindlers who take advantage of people’s lack of information and culture in our country of not worrying about data security.
Remember that criminals also act opportunistically, creating scams with situations highlighted in society such as emergency aid, Black Friday, Income Tax, eCommerce, and fake links, among others.
Orient, Your Elder!
Do not provide any personal data by phone, email, SMS, or WhatsApp, even if there is an insistence.
Do not click on any link sent by email, SMS, or WhatsApp; these links are usually fake.
If you need help at an ATM, ask a bank employee or return with another person you trust at the bank.
If you notice any suspicious movement in the elderly person’s account, notify the bank immediately.
Centralize Transactions Through The Bank Application
To maintain reliable communication with the financial institution, teach your senior to use the bank’s application. Currently, applications have an intuitive design that facilitates access.
If the elderly prefers to call the bank, teach them to do so through the application; in this way, it is possible to ensure the banking transaction’s security further.
In Case Of A Scam, Report It!
If you realize that the elderly person was a scam victim, immediately inform the financial institution and check the necessary procedures to minimize the damage.
How To Reduce The Risk Of Scams Against Seniors
– Try to maintain control over finances: call the branch, contact the bank manager to check if the money came in on the correct day if there is any unusual movement. Access online channels when you know;
– Other close people (family, friends, neighbors) should be attentive and carry out a kind of supervision: check with the elderly person about their rights, if there has been any change in the amounts received, the standard of living, everyday purchases for the house, paid bills, if there is any problem in this regard. Some seniors are ashamed to say they have been deceived.
– Avoid being a guarantor and being in charge of the business for third parties at the current moment, as the moment is conducive to abuse or scams.
To learn more about estate planning for the elderly to avoid fraud, sites like barr & young attorneys can guide you on the journey