Three Ways Seniors Can Fight Financial Fraud

The attorneys at Markoff Leinberger in Chicago, Illinois want to share these tips for protecting seniors from unlawful financial fraud.

After years of litigating consumer fraud cases in Illinois, the attorneys at Markoff Leinberger in Chicago recognize the importance of sharing news and tips released this week by the senior-citizen financial services organization EverSafe, which aims to protect seniors’ money.

According to EverSafe, senior citizens are disproportionately targeted for fraud and similar financial crimes. The organization reports that billions of dollars in life savings is lost each year in fraud aimed at seniors, and that roughly 20 percent of seniors age 65 and older have been victimized by this type of crime.

“Older adults are at the greatest risk for theft simply because they have a lifetime of savings at risk,” EverSafe CEO Howard Tischler said in a prepared statement. “Older adults and the people who care for them need to be cognizant of the risks and common ways they are targeted for abuse.”

Here are three of his agency’s tips on how seniors can better protect themselves from fraud:

Tip No. 1: Rely on more than one person for financial help. When multiple family members are watching a senior citizen’s funds, an individual is less likely to make a fraudulent mistake. It’s also important for seniors to communicate their financial wishes to multiple family members or advocates.

Tip No. 2: Closely monitor online accounts. While online banking and shopping is generally convenient, safe and reliable, there are risks so check your account balances and activity daily.

Tip No. 3: Never commit to an unsolicited charity or investment. Phony philanthropy and the like are a major source of senior financial fraud. If you want to support an organization or agency, stick with those that you know well or have thoroughly researched.

If you are a senior citizen and feel you have been taken advantage of by an individual or company who is in violation of fraud laws in Illinois or anywhere nationwide, please contact the consumer protection attorneys at Markoff Leinberger online or by telephone to schedule your case consultation: 1 (888) 517-9115.


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