Watch Out For The Elder Fraud Web
Kiplinger's Personal Finance|January 2020
Scams range from petty theft to embezzlement. Your parents may need your help.
Miriam Cross
Watch Out For The Elder Fraud Web
There were warning signs: A constantly ringing phone. Bank accounts in disarray after an apparent hack. Messages from her family that went unreturned for days because she was extremely busy. A new man in her life, with whom she talked over the phone but never in person. Rochelle, an active, social, independent 86-year-old resident of Los Angeles, was being exploited by an international fraudster. But it was only months after those signs first appeared that the people who cared about her made sense of them.

Concerned friends and neighbors refrained from asking too many questions out of respect for Rochelle’s privacy. It was only when Rochelle’s son Brad and daughter-in-law Nancy, who live in Sacramento, visited her last September that they realized something sinister was at play. (Last names are withheld to protect their privacy.) Rochelle was in such a deep state of depression that she ended up in the hospital, where the couple found out that she was also experiencing cognitive decline. When they entered her condo, they found scraps of paper with a mysterious name and phone number, a FedEx receipt to Jamaica, and stacks of unpaid bills.

Nancy and Brad are still trying to piece together how Rochelle fell under the spell of a seductive caller, who manipulated her into opening credit cards and lines of credit, as well as buying expensive watches they couldn’t subsequently trace, over the course of several months in 2019. “I think the root of the problem is that she was lonely living by herself, even though she was surrounded by lovely neighbors and good friends,” says Nancy. After talking to Rochelle as she recovered, they found out that she had tried to resist the caller’s demands, but the pressure and the threats became too much to bear.

Diese Geschichte stammt aus der January 2020-Ausgabe von Kiplinger's Personal Finance.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der January 2020-Ausgabe von Kiplinger's Personal Finance.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS KIPLINGER'S PERSONAL FINANCEAlle anzeigen
FREE HELP FOR COLLEGEBOUND STUDENTS
Kiplinger's Personal Finance

FREE HELP FOR COLLEGEBOUND STUDENTS

This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.

time-read
2 Minuten  |
December 2024
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
Kiplinger's Personal Finance

WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS

You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.

time-read
2 Minuten  |
December 2024
SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS
Kiplinger's Personal Finance

SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS

ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.

time-read
5 Minuten  |
December 2024
Strategies for Novice Investors
Kiplinger's Personal Finance

Strategies for Novice Investors

AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.

time-read
3 Minuten  |
December 2024
ANSWERS TO YOUR 529 PLAN QUESTIONS
Kiplinger's Personal Finance

ANSWERS TO YOUR 529 PLAN QUESTIONS

Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.

time-read
6 Minuten  |
December 2024
Rate-Cut Winners and Losers
Kiplinger's Personal Finance

Rate-Cut Winners and Losers

NOW that the Federal Reserve has cracked the interest rate ice, the next development will be to separate winners from losers.

time-read
2 Minuten  |
December 2024
SHOULD YOU BUY THESE RED-HOT FUNDS?
Kiplinger's Personal Finance

SHOULD YOU BUY THESE RED-HOT FUNDS?

Covered-call ETFs are popular but come with plenty of caveats.

time-read
6 Minuten  |
December 2024
DIVIDEND STOCKS ARE READY TO REBOUND
Kiplinger's Personal Finance

DIVIDEND STOCKS ARE READY TO REBOUND

Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.

time-read
10+ Minuten  |
December 2024
IS A 55+ COMMUNITY RIGHT FOR YOU?
Kiplinger's Personal Finance

IS A 55+ COMMUNITY RIGHT FOR YOU?

These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.

time-read
8 Minuten  |
December 2024
AT LONG LAST, RATES ARE DROPPING
Kiplinger's Personal Finance

AT LONG LAST, RATES ARE DROPPING

Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.

time-read
4 Minuten  |
December 2024