Alzheimer’s Foundation of America Offers S.A.F.E. Tips as Part of National Senior Fraud Awareness Day on May 15
By the Alzheimer’s Foundation of America –
With scammers stealing an estimated $7 billion from senior citizens each year according to the FBI, the Alzheimer’s Foundation of America (AFA) is offering S.A.F.E. tips as part of National Senior Fraud Awareness Day on May 15 to help family caregivers protect loved ones living with dementia from scams, fraud, and identity theft.
“Senior citizens are a top target for scammers, and seniors living with dementia are at even greater risk due to the way dementia affects the brain,” said Charles J. Fuschillo, Jr., AFA President and CEO and a former New York State Senator who authored laws to protect people against identity theft. “Caregivers need to know about steps and resources they can utilize to help protect their loved ones with dementia from being victimized. Being proactive and alert are the two best defenses.”
Seniors are frequent targets of financial scams because they are more likely to have savings, own a home, and have good credit, according to the FBI. The FBI also notes that seniors tend to be trusting and polite and less likely to report fraud. Seniors living with dementia are especially vulnerable because dementia affects memory, judgment, decision-making, and the ability to recognize suspicious activity. Scammers will exploit whatever they can to manipulate victims into sharing personal information or sending money.
AFA recommends that caregivers follow the S.A.F.E. tips to protect loved ones with dementia:
Solidify good security practices
Keep written reminders near the phone or computer, such as: “Do not give out your social security or bank account number” or “do not click on links in emails” to help the person with dementia remember how to protect themselves. Regularly reinforce these proper safety practices with the person.
Apply blocking tools
Use blocking tools on the person’s phones to help prevent suspicious calls and text messages. Ensure computers have anti-virus software installed to block malicious content and look into safety controls which can block unknown apps and websites. Place a “no solicitation” sign on the front door to reduce the chances of unwanted visits from salespeople or scammers.
Find someone to help monitor financial activity
Identify someone (i.e., family member, financial professional, etc.) who can help the person to review their bank and credit card statements regularly for unusual activity and to watch for warning signs of financial exploitation. Someone with dementia may miss small or repeated unauthorized transactions. Immediately report any suspicious or fraudulent activity.
Establish stronger financial safeguards
Add a trusted family member onto the person’s accounts to monitor transactions and to be alerted about purchase or withdrawals. Many banks and credit card companies offer free alert services that send text or email notifications about suspicious activity or key account changes; ask the person’s financial institutions about these services. Federal law also allows consumers to set up a security freeze on their credit, which can help prevent scammers from fraudulently opening new accounts under their name. Learn more about this free service by visiting the Federal Trade Commission’s (FTC) website.
The Alzheimer’s Foundation of America is a non-profit organization whose mission is to provide support, services and education to individuals, families and caregivers affected by Alzheimer’s disease and related dementias nationwide and to fund research for better treatment and a cure. Its services include a National Toll-Free Helpline (866-232-8484) staffed by licensed social workers, the National Memory Screening Program, educational conferences and materials, and dementia care training for healthcare professionals.
For more information about AFA, call 866-232-8484 or visit www.alzfdn.org.
