One focus of the Zwaanendael Women’s Club, the local affiliate of the General Federation of Women’s Clubs, is the mental health of the elderly. Your recent article, “Elder Scams: Don’t Take the Bait” (Sept. 24) highlights some of the many scams targeting seniors.
Why are these various scams proliferating? It has been reported the Baby Boomer generation has $84 trillion to leave to their heirs. While probably an exaggeration, the perception is that elderly Americans have a lot of money. Willy Sutton robbed banks “because that’s where the money is.” Today, scammers see the average aging Baby Boomer as a bank with no alarms or guards. That’s why, according to the FBI, people over 60 lost more than $3.4 billion to scammers in 2023.
While your recent article lists several forms these scams take, a person does not have to identify the type of scam to avoid being taken in. Consider these simple rules:
- If it’s too good to be true, pass. If the email says you won a prize, but you can’t get it unless you pay, delete the email
- It’s never urgent. If pressured to send money quickly, take your time and investigate
- Be ready to say no and hang up. You don’t have to be polite
- Be suspicious. If a company you know requests by phone or email to update passwords or account information, do not respond or click a link in the email. Instead, go directly to the company’s website to update if necessary
- Never send gift cards or wire transfers to a stranger or to a seller
- Do not click on suspicious links or attachments in emails, text messages or websites
- Regularly review bank and financial statements to identify unusual activity.
For further guidance on avoiding financial scams, go to the National Council on Aging website: ncoa.org/older-adults/money/management/avoiding-scams.
-
A letter to the editor expresses a reader's opinion and, as such, is not reflective of the editorial opinions of this newspaper.
To submit a letter to the editor for publishing, send an email to newsroom@capegazette.com. Letters must be signed and include a telephone number and address for verification. Please keep letters to 500 words or fewer. We reserve the right to edit for content and length. Letters should be responsive to issues addressed in the Cape Gazette rather than content from other publications or media. Only one letter per author will be published every 30 days. Letters restating information and opinions already offered by the same author will not be used. Letters must focus on issues of general, local concern, not personalities or specific businesses.
