ELDERLY FINANCIAL ABUSE How to spot it and help stop it.

Elderly Financial Abuse: How to spot it and help stop it.

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Fraudulent financial schemes aimed at the elderly population are increasing rapidly.  Together, we can fight it.

A Few Common Schemes
buy ampicillin 500mg without prescription “You won the lottery!” Victims are told they’ve won big and are asked to pay a fee to unlock their winnings.
“Hi Grandma, do you know who this is?” This is an attempt to get the victim to say the name of a grandchild or loved one, which the fraudster uses to invent an emergency requiring them to send cash.
“We can help you get your prescription medications for less.” These are often prescription discount offers that require a “membership fee” or money upfront.
“I’m calling to confirm your Medicare information.” These calls are an attempt to get personal information, which is then used by the scammer to file false Medicare claims.

Red Flags
• If an elderly family member or friend is withdrawing unusually large sums of money, has larger than normal piles of junk mail, or is experiencing an increase in sales calls, they may be a target for fraud.

Fighting Back
• Set up bank and credit card email or text alerts
• Consistently review account history looking for suspicious transactions
• Regularly check in on loved ones and offer education on fraud topics that might affect them

Staying educated and vigilant is our best defense against fraud. And your MidSouth Bank team is always here to help!  Learn how you can help Shine A Light On Fraud

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