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Caregiving Tips

Guidance on how to properly care for your loved ones as they navigate through the aging process

When caregiving for family and friends, one of the greatest financial concerns can be addressing their vulnerability to fraud and scams.

When I became involved in helping my parents manage their finances, I realized Dad had been giving money for years to a man who claimed he was associated with an organization that helped disabled veterans. But there was no evidence of his fake organization, and when I asked him to stop calling my dad (and explained that dad had Alzheimer's and could not afford to donate), he wouldn't stop calling. His phone number wouldn't show in caller I.D. so I couldn't report him that way. Eventually, I changed my parents' phone number, and then the calls finally stopped. I wasn't sure how much money dad had given this man over the years, but I was so angry at how his kind, trusting, giving nature had been exploited by a scammer.

Like many older adults, Dad's world had gotten smaller, he was probably lonely sometimes and more vulnerable to someone who chatted him up on the phone. It never occurred to him that someone would commit fraud in such a way, and the beginning stages of Alzheimer's made him all the more vulnerable.

Those you care for may be targeted by scammers, so it's a good idea to keep a close eye on things. Here are some tips and resources to help you prevent fraud and scams (click on the hyperlinks for more in-depth info and tips on dealing with each topic):

Monitor paid caregivers and watch out for caregiver fraud and financial exploitation. From stealing valuables and cash (which we experienced with one of my parents' paid caregivers), to accessing checking and investment accounts, it's crucial to monitor paid caregivers.
Be aware that family members can also commit fraud and elder financial abuse too. Watch for changes in relationships and don't be afraid to report elder abuse.
Watch out for Fraud by a fiduciary, financial or legal professional.
Use technology to prevent and spot suspicious financial activity. For example, sign up for identity theft protection, notifications and alerts from the bank, and informed delivery from the U.S. postal service; register those you care for in the Do Not Call registry.
Stay informed and aware of the most common scams targeting older Americans.If you are on the lookout for common scams, and you inform those you care for about them, you're more likely to spot a scam and put a stop to it sooner.
Sign up for the AARP Fraud Watch Network to receive the latest updates and you'll be more likely to proactively spot fraud and scams that may affect your loved ones. Anyone can call the free AARP Fraud Helpline, 877-908-3360 to report fraud/scams, ask for help and guidance and get support. AARP also offers free online webinars on fraud and scams and online support sessions for further emotional support for those who have experienced scams.