Up and Coming Weekly is a weekly publication in Fayetteville, NC and Fort Bragg, NC area offering local news, views, arts, entertainment and community event and business information.
Issue link: https://www.epageflip.net/i/80536
SENIOR CORNER Senior Crimes Are on the Rise by MARTHA OWEN & SUSAN GUY Rising incidents of scams tar- geting older adults present an enormous threat to seniors' se- curity, both financially and emo- tionally. Senior fraud victims may suffer long-lasting trauma that often erodes their sense of trust and well-being, eldercare experts have noted. Three crimes, in particular, are on the rise, experts say. They are identity theft, Medicaid/Medicare and medication fraud and finan- cial exploitation. A recent MetLife study titled "The MetLife Study of Elder Financial Abuse" revealed that the annual financial loss by victims of elder financial abuse is estimated to be at least $2.9 billion, a 12 per- cent increase since 2008. Details of these crimes, from National Association of Triads Director Ed Hutchison, include: • Healthcare fraud including Medicare/Medicaid scams and medication theft. The major fraud tactic in this growing industry that frequently gets ignored is the misuse of a medical card. Scammers fabricate treatment and get paid for it. Another strategy involves finding a senior in need of medical supplies, calling him or her and saying, "Give us your Medicare card number and we can send your supplies through the mail." Or criminals can obtain treatments or medication by as- suming an older adult's identity. The World Privacy Forum revealed that a half million Americans have been victims of identity theft and healthcare fraud. The National White Collar Crimes Center puts the loss due to health care fraud at $100 billion or 10 percent of America's total health care expenditures. What's more, many seniors take multiple prescription medications. Crimes of theft and fraud are being committed by those who break into a senior's home for the purpose of stealing those medications. Crimes agains seniors are on the rise — identity theft, Medicaid/Medicare and medication fraud and financial exploitation. • Identity theft. It's amazing the damage a scammer can do with the last four digits of a Social Security number. Those important four numbers can be com- bined with employment history and addresses to take out loans and lines of credit. Scammers sometimes find Social Security numbers on the Internet, so that's why it's important to check your senior's credit often. By law, everyone gets one free credit check a year. Staggering requests among the three credit companies — Experian, Equifax and TransUnion — can allow consumers to check their credit every few months. • Financial exploitation. The financial exploitation of seniors comes in the form of a variety of cons. One of the most successful deceptions perpetrated recently on older adults is the grandparent scam. The fraudster calls the senior claiming to be a grandchild in need of money. The grandparent is instructed to wire money ASAP. "A senior in the community fell for this," said a Home Instead Senior Care® fran- chise owner recently. "Fortunately, Western Union was suspicious and held up the transaction, successfully averting the crime." Older adults have a high likelihood of becoming the target of a scammer sooner or later, experts say. It might come in the form of a knock on the door, an offer to shingle the roof, a phone call from a friendly voice that guarantees big savings on medications or an email that promises the biggest return ever on an investment. Family members are generally the designee to monitor their senior's situation. When the family lives out of town, this can be difficult to manage. However, there are professional caregivers who can be in the home on a regular basis to provide support as well as protection from predators. The old expres- sion, "I'd rather be safe than sorry!" may be appropriate since seniors are so vulnerable today. MARTHA OWEN & SUSAN GUY, Owners of Home Instead Senior Care, Editor@ upandcomingweekly.com. WWW.UPANDCOMINGWEEKLY.COM 2012 Best of Fayetteville on 2012 Best of Fayetteville Awards You are cordially invited to attou are cordially invited to attend the sneak preview end the sneak preview Tuesday, September 11, 2012 5:30 - 7:30 p.m. uesday, September 11, 2012 5:30 - 7:30 p.m. wards on at Wet Willie's 411 Hay Street at Wet Willie's 411 Hay Street Guest Celebrity MC Don Chase of WKML Guest Celebrity MC Don Chase of WKML Carolina's Best and Most Country Historic Downtown Fayetteville Food • Fun • Prizes Historic Downtown Fayetteville Food • Fun • Prizes Carolina's Best and Most Country Awards Presentation 6:30 Bill Bowman, Publisheri Bll Bowman, Publisher, Up & Coming Weekly elcome: County Commissioner Chairman Marshall Faircloth, ACVB President John Meroski Chamber President Doug Peters County Commissioner Chairman Marshall Faircloth, FACVB President John Meroski Chamber President Doug Peters Mayor Tony Chavonne. Mayor Tony Chavonne. Up & Coming Weekly Remarks: Remarks: offi cemanager@upandcomingweekly.com offi cemanager@upandcomingweekly.com Hosted By: Laurel Handforth 910.484.6200 Laurel Handforth 910.484.6200 R.S.V. R S.V..P P. wards Presentation 6:30 Welcome: Utley & Knowles CPAs AUG. 29 - SEPT. 4, 2012 UCW 17