Many elderly individuals struggle with loneliness and isolation. Losing a spouse can amplify these feelings, making them vulnerable to exploitation by parties with malicious intentions.
One common form of this is the romance or love scam, where online parties could take advantage of these feelings of loneliness to financially exploit and abuse the elderly. According to recent figures released by Homeland Security, elderly Americans lost $240 million to these scams.
How to spot a love scam
If you have an elderly loved one and are worried that they may be at risk of a love scam, there are signs that can help you spot abuse. Look out for:
- Excessive spending: Love scammers will likely try to financially abuse an elderly target. They may try to do this by getting their victim to send them money through online payments, direct cash transfers or by getting them to purchase gift cards.
- Mysterious contact: If your elderly loved one has recently started an online relationship with someone, be wary if they are sending seemingly fake pictures of themselves, avoiding videocalls or opportunities to reveal their identity, asking them for money, making extravagant promises or showering them with affection. This may indicate that your loved one is in contact with a love scammer.
It may be helpful to speak to your loved one about these red flags if you notice them to guard them from continued financial abuse. Furthermore, if you believe that they fell victim to a love scam you could file a complaint with the Federal Trade Commission.
The elderly may be vulnerable to abusive schemes by manipulative parties. This can be catastrophic to their financial situation. However, you can be vigilant and proactive in protecting your loved ones from exploitation.