October 2020
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October is Elder Financial Exploitation Awareness Month: protect yourself from financial exploitation October is recognized as Elder Financial Exploitation Awareness Month. Older adults lose a total of $36.5 billion annually to financial exploitation and fraud. Elder financial exploitation is most often committed by someone who has a personal trusted relationship with the older adult such as a caregiver, family member, neighbor, attorney, financial advisor, or even a pastor or doctor. Unknown scammers largely target older adults, too. The most common scams committed by strangers are lottery/sweepstakes scams, grandparent scams, charity scams, home repair scams, imposter scams (utility company, social security administration), and telemarketing scams. To protect yourself from financial exploitation: • Take your time when making important financial decisions and be careful whom you ask to help make decisions. Don’t be pressured into making hasty decisions. • Never sign anything without fully understanding what you’re signing. Ask for advice from a trusted family member or professional. • Do not leave your personal financial documents out in the open. Keep them in a secure place out of plain sight. • Safely dispose of all personal identifying documents by shredding or tearing them up. • Register your phone number with the Do Not Call Registry by calling 1-888-382-1222 or by visiting www.donotcall.gov.
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Be cautious. If something sounds too good to be true, it probably is. • Never give out your personal information over the phone or through email. Never share your social security number, bank account information, or any other personal identifying information. • Never open emails or click links from unknown senders. If you are not sure an email is legitimate, look up the contact information and contact the source directly to verify the information. Scammers will take any opportunity, even a worldwide pandemic, to come up with new ways to take your money or private information. The FiftyForward Victory Over Crime Program wants you to have all the information you need to keep yourself safe, especially during this time. Please click https://fiftyforward.org/technology/coronavirusscam-tips-facts/ for helpful facts and tips from FiftyForward and the Federal Trade Commission to protect yourself from scammers who are using the COVID-19 pandemic as an opportunity to prey on others. Let’s support each other to be smart and stay one step ahead of scammers!
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