Reporting the scam is a crucial element of determining what to do if your elderly parent is a victim of fraud. One of the most annoying aspects of fraud schemes targeting the elderly is that they frequently go undetected, making it more difficult for the police and other legal authorities to detect and battle them.
Your parents should also file a complaint with the Federal Trade Commission at FTC.gov/complaint. There is no assurance that they will receive their money back. However, by reporting the crime, they may be able to assist law enforcement in apprehending the fraudsters.
Remove your parents’ phone number from the public record so that scammers will not be able to obtain it.You might want to consider switching from your landline to a mobile, which receives fewer scam calls.Obtain the addresses of your parents and place them on opt-out lists with the Direct Marketing Association.Once this is completed, real businesses will no longer send junk mail, and parents will be aware that any letter they receive is most likely from fraudsters.
Even if an inquiry does not result in the identification of the scammer or the conviction of the scammer, Mr. McManus adds that recording the fraud can be useful when challenging any account charges. In order to warn credit card companies, banks, and any other financial organizations where the parent has an account, he recommends that children assist their parents in doing so.
The majority of the time, when elderly parents fall victim to a financial fraud, it is their adult children who must pick up the pieces. It may be time-consuming, expensive, and unpleasant to go through the process.
In order to be sure that no fraudulent new accounts have been started in their names, check their credit reports at AnnualCreditReport.com every year. If your parents refuse to listen to your warnings, AARP can assist you. You or they can contact the AARP Fraud Fighter Call Center at 1-800-646-2283, which is a toll-free number..