Anyone can fall victim to fraud, but our older loved ones are particularly at risk, and conversations with family members are a great first line of defense. Here are five tips to have a conversation that helps.
1. Start with empathy, not alarm
Many fraud victims don’t report it because they feel stupid. Fraudsters exploit trust, and being trusting doesn’t make you stupid. It makes you a kind human. Explain that anyone, even the smartest, most tech savvy people, can be fraud victims. That’s why it’s important to stay alert and have simple safeguards in place.
2. Use realistic examples, not vague warnings
Telling a loved one, “be careful of fake tech support messages on your computer” is fine but actually showing them an example of what those messages look like is more impactful. You can even use examples from your own life. Did you get a fraudulent text message? Screenshot it before you delete it to show your older loved one, so they can be on the lookout for similar messages.
3. Focus on short, simple action items
Phrases like, “hang up and verify any phone call asking for personal information” or “never wire money to someone you don’t know” are easy to remember. Fraudsters create panic and urgency to get their victims to act without thinking. Simple guidelines like this are easy to remember, even under stress, and are more effective than long explanations.
4. Normalize talking about money and mistakes
Nobody wants to feel stupid. If an older loved one fears your judgment, they might be hesitant to reach out when something goes wrong. Be a safe space. Remind them they can always reach out and ask a question. Double checking or even admitting you might have made a mistake isn’t embarrassing, it’s brave and it helps stop scammers.
5. Help your loved ones understand the tools that are available to help
Two-factor authentication adds an extra layer of protection to log ins. It requires someone to verify their identity two ways, usually with “something they know” like a password, and “something they have” like a code. Tools like this can feel cumbersome and unnecessary if you don’t understand their importance. That’s why education is key.
Fighting fraud is everyone’s responsibility. Stay alert, safeguard your information and always contact the bank right away if you suspect you or your loved one is a fraud victim.
