Elder fraud is a billion dollar problem
Unscrupulous fraudsters are making a business of taking advantage of older adults. The worst part is that many are succeeding.
Almost 4 out of 10 seniors are affected, losing over $36 billion each year to financial abuse. And this isn’t only happening to the very old or those with dementia – younger, more educated seniors are actually losing more money.
A surprising fact is that the junk mail your older adult gets is a sign of fraud risk. It means their names are on multiple mailing lists that scammers can use to contact them.
We found 4 highly recommended options to get rid of your older adult’s junk mail and reduce their risk of being scammed.
Reduce fraud risk by getting rid of junk mail
Putting a stop to the junk mail being sent to your older adult’s house is essential for reducing their fraud risk.
It also reduces the risk that someone with early dementia would repeatedly donate to multiple charities, sign up for many credit cards, or spend an excessive amount on catalog purchases.
4 options for getting rid of junk mail
Here are four ways to get your older adult off of direct marketing mailing lists.
Stops mail from companies that your senior has never purchased from or donated to. Use the “Register as a Caretaker” link toward the bottom of their homepage. The junk mail expert says this is the #1 way to stop junk mail and that most people will only need to do this.
2. National Do Not Mail List
This is another company you can use to opt-out from junk mail. It’s independent from DMAChoice.
3. Opt-Out Pre-Screen (1-888-5-OPT-OUT)
This company stops credit card offers. FYI: They will ask for a Social Security Number. The junk mail expert says this is legitimate because that’s the way the credit bureaus identify the person.
This is a telemarketing company, but they also manage mailing lists for their clients. Call (330) 668-1400 or email firstname.lastname@example.org to request removal from their lists. This also helps reduce those pesky telemarketing phone calls.
Note: Don’t be discouraged if the junk mail doesn’t stop instantly. Most companies prepare their mailings 3 months ahead of time, so it will take about 3 months to see a reduction in junk mail.
Getting rid of junk mail might seem like a lot of work, but it is well worth it if you can protect your older adult from losing their life savings to fraud.