Phone scams targeted at the elderly are nothing new. An alarming $36 billion are lost each year to financial scams. Con artists are always doing their best to create new scams to swindle money. The elderly, specifically, are constant targets of phone scams. It’s essential to stay up-to-date on the latest scams to protect our senior loved ones.

Check out the latest in phone scams targeted at the elderly:

The latest senior scam is difficult to detect until it’s too late. The company calling itself Utility Savings Expert claims to cut utility, phone, cable, and other bills in half. The scammers request account information from the bill. Then they pay off the balance in full, with the understanding that the senior will reimburse half of the cost by wire transfer only – no checks or bank cards accepted. After the victim’s funds have already been received, the organization reverses the charge to the phone or utility company, making the senior liable once more for the full amount, as well as the additional fifty percent.

How do you protect your older family members from falling prey to believable scams? First, wire transfers as payment is a red flag to avoid. Make sure your loved one never takes part in dealing with an unfamiliar business. Advise them to screen calls and hang up when someone asks for personal or financial information. 

Comprehensive Home Care is the home care provider North Carolina families can trust. Our companionship care help alleviates loneliness and reduces the chance of a scam. Call us at 704-333-5214 or contact us online for more information.

Now that you are informed on the latest phone scam, check out Tips on Recognizing the Signs of Elder Abuse to prevent another risk your senior loved one’s face.