Staying Financially Healthy

Unfortunately, on a frequent basis in our practice as RN Geriatric Care Managers, we hear of, witness, and report fraudulent activities. Many scams active in the community are telephone scams where an individual is called by an unknown person and defrauded.

The scams are usually where the caller acts as if he knows the person, addresses them by their first name and may include names of family members.
The common thread to all calls is to gain information such as passwords, credit card numbers, banking account numbers, Medicare, Medicaid, Medical Insurance ID's, social security numbers and income tax information.

The aging person may have cognitive difficulties and memory issues where they are not aware of all the information given to a fraudulent caller. When made aware of the occurrences, we report it to a family member to change the phone number and to check the accounts mentioned to ascertain if there is fraudulent activity. Also, non-emergency lines at local police departments should be alerted to fraudulent activities.

Caregivers in the home need to be aware of this as well as to prevent calls like this and to utilize a system where all phone calls are screened.


Respectfully,

Suzanne Hanas, BSN, RN

The Seniors Fraud Prevention Act, co-sponsored by U.S. Senators Susan Collins (R-ME), Chairman of the Senate Aging Committee, and Amy Klobuchar (D-MN), was recently approved by the Senate Commerce Committee and now awaits consideration by the full Senate. 

The Seniors Fraud Prevention Act (S. 512) would help protect seniors from fraud schemes by strengthening the reporting system to ensure complaints of fraud are handled quickly by the appropriate law enforcement agencies. The bill would also require the Federal Trade Commission (FTC), the agency responsible for handling consumer complaints, to coordinate with other agencies to monitor the market for fraud schemes targeting seniors.

In addition, the bill would require the FTC to distribute information to seniors, their families, and their caregivers explaining how to recognize fraud schemes and how to contact law enforcement authorities if a senior is targeted.

Earlier this year, Senator Collins released the Aging Committee’s 2019 Fraud Book in a hearing titled:"Fighting Elder Fraud: Progress Made, Work to be Done."