2 Services That Protect Grandma From Money-Stealing Scams

What's Hot

Do This or Your iPhone Bill May SkyrocketSave

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

11 Places in the World Where You Can Afford to Retire in StyleMore

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

32 of the Highest-Paid American SpeakersMake

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

9 Tips to Ensure You’ll Have Enough to RetireFamily

5 DIY Ways to Make Your Car Smell GreatCars

30 Awesome Things to Do in RetirementCollege

5 Spots Where Retirees Can Live for Less Than $40,000Real Estate

10 Ways to Pull Together the Down Payment for a HomeCredit & Debt

10 Ways to Reduce Your Homeowner’s Insurance RatesFamily

50 Ways to Make a Fast $50 (or Lots More)Grow

There are services available to help stop elder fraud in its tracks. Could they help you or someone you know?

Grandma and Grandpa are often the unfortunate targets of con artists. But some services are helping protect seniors from becoming the next victim of elder fraud.

More than 25 percent of people who fall victim to financial scams are older than 60, NPR says. Seniors’ trusting nature, likeliness to have a nest egg, lack of knowledge about how to report a potential fraud, or even a prideful unwillingness to report a con, makes them attractive to scammers, according to the FBI.

In an effort to make financial exploitation of elders more difficult to pull off, True Link and EverSafe – two separate services – are available to consumers, NPR says.

  • More financial control. For about $10 a month, True Link issues customized Visa prepaid debit cards to seniors. The cards can be tailored to block certain charges, like specific merchants, charities, wire transfers or sweepstakes entries. Family members will receive alerts if suspicious activity is detected.
  • Identify fishy financial transactions. EverSafe is a service that scans seniors’ financial accounts, including banking, credit cards and investments, on a daily basis to help identify questionable activity – like unusual cash withdrawals, changes in spending patterns and missing deposits – that could indicate fraud, according to the EverSafe site. “If something looks fishy, the older adult — and his or her designated family members — are notified,” NPR says. EverSafe starts at $4.99 per month.

These two services are designed to involve both the senior and their family members in an effort to thwart financial fraud.

The AARP tries to stay abreast of the latest elder scams. Check out its Fraud Watch Network page for the latest reported scams.

If you or someone you know has been a victim of fraud, click here for information on how to report it. You can also click here for state-by-state information on how to report elder fraud.

Have scammers preyed on you or a family member? Share your comments below or on our Facebook page.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 6 Tips to Donate to Charity the Smart Way

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,675 more deals!