Malvern Bank issued the following announcement on Aug. 14.
During times of stress, a number of scams are targeting older adults, focusing on the victim's desire to save money for retirement, be safe in their space, help family and others, and lessen loneliness.
Save you and your loved ones from one of these common scams:
- Lottery and Sweepstakes
- Scammer claims the victim should pay thousands of dollars to cover the taxes for their winnings.
- Home Repair
- Following a storm, someone disguising as a repair worker states the owner's roof needs fixed immediately and requires payment in cash.
- Grandparent Scam
- Caller poses as a grandchild requesting money to be wired.
- Charity Scam
- Caller fabricates a fictitious profile with attractive pictures, asking for money, gift cards, and/or banking information.
- Utility Scams
- Two scammers come to check utilities; one stays outside with the owner, while the other steals from inside the house.
- Predatory lending
- Ther hoaxer persuades the individual to take out inappropriate loans like reverse mortgages.
- Annuity Sales
- Scammers motivate the individual to spend money to protect their retirement funds.
- Investment Schemes
- Scammer talks the individual into financing a new and upcoming business, with the promise of earning lots of money/pyramid scheme.
- Phishing
- The victim is triggered to click on a link claiming to have family photos on social media, thus, giving the perpetrator their log-in information.
- Money Mules
- The victim is encouraged to transfer funds between two parties.
Use caution when you receive unsolicited emails, calls, or messages from an unknown source and trust your instinct; if something doesn't feel right, it probably isn't.
Original source can be found here.
Source: Malvern Bank
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