World Elder Abuse Awareness Day is on June 15. State agencies including the Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP), Wisconsin Department of Financial Institutions (DFI), Wisconsin Department of Health Services (DHS), and Wisconsin Department of Justice (DOJ) are partnering to raise awareness of how older consumers and investors are exploited by bad actors – and how they can stay protected.
Every year, older consumers report losing billions of dollars to scams and fraud. Seniors continue to lose more money to scams and fraud than younger consumers.
They are targeted because of cultural stereotypes that assume older adults are more likely to:
- Have accrued wealth
- Be comfortable speaking to strangers,
- Be less familiar with emerging technologies,
- Be prone to confusion due to medication or illness
- Be isolated from their friends, family, and community
Scammers may use personal information taken from obituaries or social media posts to target specific seniors. Often, scammers aim to target seniors when they are most vulnerable.
Scammers may pretend to be:
- A real friend, acquaintance, or family member
- An online romantic partner
- A government official or program like Medicare, the U.S. Treasury, or law enforcement
- A professional investor or investment coach
- A tech support agent
Warning signs an older adult is being scammed or financially exploited include:
- An overly protective new friend, partner, advisor, or caregiver
- Sudden changes in their spending, loans, will, trust, or beneficiary designations
- Unexplained loss of money or assets
- Attempts to move their money into new accounts for unexplained or suspicious reasons
- Hesitation to talk about their finances or a problem they have been told to keep secret
Scammers are very convincing. However, knowing the telltale signs of a scam, and what resources are available, can help protect older friends, neighbors, and loved ones from crooks. Wisconsin consumers can access the following resources to learn more.
They can request help for themselves or an older friend, relative, or community member:
- DATCP’s Consumer Protection Hotline at (800) 422-7128 to access consumer protection fact sheets or to request a presentation; or DATCP’s website at wi.gov to access the Senior Scams presentation toolkit or file a complaint
- DFI’s Investment Scam Tracker and its webpages on Investor Education and Avoiding Fraud Against Seniors
- DOJ’s Stop Financial Scams flyer and resources on Protecting the Elderly
- To learn how to make a report to your county Adult Protective Services (APS) program or find additional information regarding elder abuse and the role of APS, please refer to DHS’s Adult Protective Services
In addition, the DOJ, runs the Wisconsin Elder Abuse Hotline. It takes a comprehensive approach to assisting victims of elder abuse, neglect and exploitation. The Hotline does so by bridging gaps between local and state resources. The program offers a single access point for victims, caregivers, family members and concerned community members who suspect elder abuse. As part of the program, the Wisconsin Elder Abuse Hotline was developed to connect victims with appropriate local resources and, if needed, with local law enforcement.
Any individuals who suspect they are a victim or know someone who might be a victim of elder abuse are encouraged to learn more about the signs and make a report at ReportElderAbuseWI.org or by calling 1-833-586-0107.
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