It seems appropriate to go back to the quote that we as children are taught in our schools- Technology is both: Boon and Bane. With innovative inventions in the tech industry, the young generation is fast to adjust itself, making reels on Instagram or going live on Facebook.
However, these innovations are not limited to just one category of age. Instead, it has reached older adults too. But since it takes time to get acquainted with the new technology, some companies take advantage of it, and senior citizens become victims of scams quickly.
According to research by the Stanford Center on Longevity and the Financial Industry Regulatory Authority’s Investor Education Foundation, individuals over 65 are more likely to have lost money due to a financial scam than someone in their 40s.
To help the elderly avoid becoming victims of such scams, it is essential to know what schemes and tactics are commonly used against them.
Unfortunately, senior citizens are the frequent target of fraud scams, as they are willing to listen to people. Most of the frauds against seniors are performed through emails or over the telephone.
The elderly are prime targets to schemes attributed to charities, health products, home improvement, credit cards, contests, medicare, and insurance. Fraudsters use
1. Unsolicited Emails: The term for frauds performed over email is Phishing. According to Mimecast’s State of Email Security, there was a 58% increase in phishing attacks in 2020. If you didn’t sign up to receive an email from a company, and they are still sending you a bunch of emails, it’s time to get your alert mode on.
2. No Organization Uses Public Domains: Because brands are always eager to create an impression of their firm, they NEVER use a public domain address such as “@gmail.com” to send their customer’s promotional messages. Not even google does that. So, if you receive such an email- That is a red flag.
Most organizations, except small operations, will have their own company accounts. For example, a firm’s email should read “google.com”.
Tip- Look at the mail address properly.
3. Misspelt Domain Name- Another clue to identify when an email sender is a fraud is to look for the domain name’s spelling. No authentic brand in the world would ever make the mistake of spelling their brand name wrong. But if that happens, it is a strong indication that a phishing scam is on its way. You don’t have to be a college professor to type a brand’s name on the internet and look for the spelling.
4. Poorly Written Email Message: Brand email marketing is a world of cut-throat competition. You can be sure that they are not just going to hire a fresh graduate to write their email messages, which will probably be sent to millions of potential buyers. Generally, big brands have a huge marketing team with experts who can craft a well-designed and conversational message.
Tip- Look for grammatical mistakes in the message.
5. Messages with Urgency: You know brands are dying to conversate with you, but they also know that you procrastinate the messages which display urgency. We read emails we think are relevant. But there is something fraud email senders lack, and that is patience. If you are a loyal customer, brands know you will ultimately buy a service, and they send you messages only when they have something genuine to talk to you about.
Remember, the business depends on you. This sense of urgency is what scammers take advantage of. They know that you are most likely to react to emails and click links sent by your favorite brand. In the disguise of such emails, they can embed links to extract your data.
Conclusion
It's not hard to understand why scammers love to send emails. It's an accessible medium to enchant you without revealing your identity. And technology is making it a lot easier. With auto-senders and shady operators, spoofing becomes easier.
Scammers pose as representatives of a government organization, bank, or familiar retail company to send emails and try to lure you into giving personal information in the name of significant cash prizes.
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