What comes to mind when you think about fraud?

I know it strikes terror in my heart when I think of all the money, we have worked for all our lives could disappear in seconds. 

But in today's world, we work through the internet. As much as our companies try to keep up with hackers, they can continue to be ingenious when it comes to figuring out scams. 

AARP recently came out with an issue covering scams in 2024. While they go over which are the most recent ones, they are always changing so how can we protect ourselves and why don't we do a better job of doing it? 

We have all been cautious with our finances, but we are not immune to the concerns that many seniors face when it comes to fraud. We hear the stories of friends falling victim to scams or losing their life savings to fraudulent schemes.  

Why is this so? 

We seniors often have limited technology proficiency. Some of us have cognitive decline. Many of us trust authoritative figures. (I saw this over and over again in doctor’s offices. Hmmm.)  Some of us succumb to high-pressure tactics. Many of us do our best to check out the scams but they are so real we fall for them and find out later it was a scam.  

And then there’s this… 

• “It won't happen to me.”
• “I know better.”
• “I trust my bank, mail, etc.”
• “I don’t want to seem paranoid so I won’t ask for help.”
• “I’m too embarrassed to ask for help.”
• “This is all too time-consuming.”

Sound familiar?

I recently got an envelope in the mail from a place called loan Depot. I never heard of it before but I opened the envelope and it said that sensitive information had been hacked into and I had two or three years of protection through a “credit” company. 

My first thought was, "Oh goody, I get to sign up for free protection.”  but then my second thought was, “Wait a minute. If I'm going to give sensitive information to a “credit company” that's going to protect me, is this a scam?"

Since I had never heard of loan Depot before I called them by finding their number on the internet and not using the one on the letter that they had sent. In fact, I found it curious that this was a different number from the one on the letter. 

They said that they had bought a loan which I did not know anything about and assured me that they were reputable. I had to do quite a bit of digging to figure out if this was really truly a scam or not. 

A week later I got another letter in the mail stating that an institution I work with has been hacked and again I have two to three years of protection with a well-known credit agency if I want to click on the link and go right to their website and sign up. 

So how are we supposed to protect ourselves from this kind of scam or real events?

 I researched everything that was told to me and ended up making seven different phone calls from the original authorities and not from any of the links or websites or numbers in the letter. 

So here are three quick tips you can do to protect yourself from scams coming at you through phone calls emails text messages and post office mail. 

Anti-scam tip #1: Stay Informed: Stay up-to-date on common scams and fraud schemes targeting seniors by reading reliable sources of information such as government websites, consumer protection agencies, and trusted news sources. Awareness is the first line of defense against fraud. 

Anti-Scam tip #2: Verify Requests: Always verify the identity of individuals or organizations before providing personal or financial information. If someone contacts you asking for sensitive information or money, independently verify their identity by contacting the ORIGINAL company, organization, or person directly using trusted contact information.  

Anti-scam tip #3: Seek Help When in Doubt: Don't hesitate to seek help or advice from trusted family members, friends, or professionals if you're unsure about a financial opportunity or suspicious activity. It's better to ask for assistance than to risk falling victim to fraud. Check the internet for the latest scams by typing in what they are requesting and seeing if it pops up as a scam. Next, ask someone who works in technology to check it out.  

These three strategies will leave you feeling in control and safe. Does it take time? Yes. Is it a bother? Yes. But does it protect something so very valuable to you? Yes.  

And think of it this way…what would you do if we lost all our money?  After all, this IS what they are after.  

Since I started protecting myself and my assets against fraud, here are some benefits I have experienced. 

I maintain the integrity of my computer. I have peace of mind because everything is checked and rechecked. I work with honest people I find and know.