Frequently Asked Questions (FAQs)
Navigating the world of scams can bring up many questions. Here are answers to some of the most common ones we hear.
Q: What is the single most common type of senior scam?
A: While government impersonation scams and tech support scams are extremely common, the “most” common can change from year to year as scammers adapt their tactics. It is more effective to learn the red flags that are common to all scams rather than trying to memorize every specific scenario. These universal red flags include a sense of urgency, a threat of dire consequences, a request for secrecy, and a demand for payment via unconventional methods like gift cards or wire transfers.
Q: I think I gave a scammer my Social Security number. What should I do right now?
A: If you believe your Social Security number has been compromised, you should act immediately to protect yourself from identity theft. First, visit the federal government’s dedicated website, IdentityTheft.gov, to get a personalized recovery plan. You should also place a fraud alert or, for stronger protection, a credit freeze on your files with the three major credit bureaus: Equifax, Experian, and TransUnion. Finally, monitor your bank accounts, credit card statements, and other financial records closely for any unauthorized activity.
Q: Why are scammers so insistent on being paid with gift cards?
A: Scammers demand payment in gift cards because it is like sending cash—it’s nearly impossible to trace and the transaction is irreversible. Once you buy a gift card and give the numbers on the back to a scammer, the money is gone instantly. They can quickly redeem the card’s value online from anywhere in the world. No legitimate business or government agency will ever demand payment in the form of a gift card.
Q: Is it possible to get my money back after being scammed?
A: Unfortunately, it is very difficult to recover money sent to a scammer. The chances are best if you act immediately. For example, you may be able to reverse a credit card charge or stop a bank wire transfer if you report it within hours. However, money sent via gift cards, cash, or cryptocurrency is almost never recoverable. This is why prevention is so profoundly important.
Q: I’m worried about my elderly parents. How can I help protect them from scams without being overbearing?
A: The best approach is open and respectful communication. Instead of telling them what to do, share information with them. You could say something like, “I just read an article about a new phone scam and wanted to make you aware of it.” Talk about the specific scams detailed in this guide. Encourage them to adopt a personal policy of never making a financial decision or giving out personal information based on an unsolicited phone call. Let them know they can always call you, without feeling embarrassed, to discuss any call or offer that seems suspicious. Empowering them with knowledge is more effective than trying to control their finances.
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