At Century Next Bank, we care deeply about the safety and well-being of our valued customers. Scams against seniors – a form of elder financial exploitation – is a growing concern, with scammers employing various deceptive tactics to take advantage of seniors. Below, we’ve outlined key forms of exploitation and tips to help protect yourself and your loved ones.
Common Forms of Elder Financial Exploitation:
1. Imposter Scams: Scammers pretend to be someone they’re not, such as a family member, government official, or company representative. Here is a blog post with additional information about this type of scam: Say No, Keep Your Dough
2. Lottery or Advance Fee Scams: Victims are told they’ve won a prize but must pay fees or taxes upfront to claim it.
3. Romance Scams: Scammers gain trust through online relationships, manipulating victims into sending money. Learn more about how to spot a Romance Scam.
4. Tech Support Scams: Fraudsters pose as tech support, claiming a non-existent problem with your computer to trick you into paying for fake services.
5. Money Mule Scams: Victims are convinced to transfer money for criminals, unknowingly assisting in illegal activities. Learn more about how to avoid a Money Mule Scam and what to do if you spot one.
6. Funeral Scams: Scammers use obituaries to exploit grieving families, demanding payment for fake debts.
7. Cryptocurrency Scams: Fraudsters pressure victims to transfer money via cryptocurrency under false pretenses.
Report Fraud: If you suspect you’ve been targeted, contact local law enforcement, your state attorney general’s office, or Century Next Bank. We’re here to help you stay protected.