Granny We Need to Talk: Questions that Can Stop Elder Fraud in Its Tracks

In our past two posts we talked about how Elder Fraud is on the rise and the types of fraud to look out for. Here are 7 questions to ask your friends and loved ones that can raise red flags about the possibility that they are being set up as a target for Elder Fraud:

  1. Have you had any recent phone calls or solicitations? (Cold-calling is still a very effective way to take advantage of seniors.)
  2. Has anyone recently asked to obtain your Power of Attorney?
  3. Has anyone with regular access to the home asked for financial information?
  4. Is a financial advisor pushing you to move money or purchase a financial product that you don’t understand or sounds “too good to be true”?
  5. Has anyone asked to borrow money?
  6. Has anyone borrowed things from you and not returned them?
  7. Are you donating to any new charities that you have not previously supported?

Maintaining this sort of dialogue with neighbors, friends and professionals connected with your older relatives could stop fraud in its tracks.

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