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Scams that target seniors: How to stay safe

Tips to help seniors protect themselves, with local REALTOR® and seniors expert Gwen Price
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Unfortunately, there are a lot of scams out there aimed at parting us from our money. Seniors in particular are often targets.

According to the Canada Revenue Agency, as of August 31, 2022 there were 61,305 reports of fraud, 38,812 victims of fraud and a loss of $332.7 million.

We sat down with local REALTOR® Gwen Price, who hosts her own video/podcast Sudbury Talks with Gwen Price. She wants seniors and their families to be armed with as much information as possible and to know what to do if they are ever scammed.

Methods: The how

Scams involving seniors mostly occur by phone, via landlines and cell phones. They can also occur by regular mail and email.

“Daily I get text messages, emails and phone calls that are offering me something,” says Price. “I know that the government is not going to text me about a refund. If in doubt, ask someone.”   

Types of scams to watch out for

To start, there are the grandparent scams. Suspects contact seniors or family members claiming that they need money urgently because their grandchild or family member is facing an emergency. 

There are also government impersonation scams, where the caller appears to be calling from the Canada Revenue Agency and claims that you owe money.

Seniors are also particularly vulnerable to real estate scams, such as having their identities stolen, suffering from title fraud and forged documents being registered.

“Seniors may also have received in the mail what look to be handwritten letters saying they will buy the property for cash without paying real estate fees or doing repairs,” warns Price. 

“Some of these are legitimate companies, but some are targeting seniors who may think they have to sell this way because they don’t have the money to do repairs. Before signing any documents with one of these companies, call a lawyer and have them review these documents closely. You may be selling well below the market value of your home.”    

Others to be on the lookout for:

  • Sweepstake scams  
  • Robocalls and phone scams 
  • Computer tech support scams
  • Romance scams 
  • COVID-19 scams
  • Investment scams
  • Internet and email fraud 
  • Phishing emails and text messages 
  • OHIP and health insurance scams

How to avoid becoming the victim of a scam

Seniors should always have caller ID and voicemail; they should not answer the phone unless they recognize the name and number of the person calling. Seniors should also talk to their family and friends about the calls, emails and mail they receive.

“When my dad was alive, we told him to not answer the phone or the door unless he knew the person. If it’s important, they will leave a phone message or a card in the mailbox,” says Price.

It’s also important that you don’t send money or sign anything without talking to someone first, including your bank or financial institution, the police or lawyers.

Loved ones and family members of seniors may want to have joint bank accounts. This will allow them to see if unusual sums of money are leaving the account. They should also make a point of talking to the seniors in their lives about the latest scams.

What to do if you’ve already been scammed

“First of all, don’t be embarrassed,” says Price. “Scammers know just what to say to get what they want. They are very smart, and they are always looking for new ways to trick us. All of us are capable of falling prey.”

You must definitely tell your family and friends, your bank/financial institution and the police. Call:

Helpful resources

To learn more about how to protect yourself and your loved ones, check out these trustworthy sources:

Says Price, “I would suggest that seniors join groups such as CARP, an advocacy association for older adults, or any other seniors’ groups, such as Sudbury’s The Parkside Centre, who stay abreast of the latest news and advice on scams.”

For more information, visit Gwen Price Homes or call 705-561-2335.