elderly fraud scam

Fraud scam, is really common word , and most targeted victims are the elderly, senior citizen represent whom are 65 years old or older which can be labelled as a large number of retired individuals (Elizz Author, 2019) .statistics show that Senior citizens has the highest data of fraud scam than the others generation, Protecting Older Consumer 2018-2019 said senior citizen prone to lose more money than younger generation due they are less encourage to files a report (Joseph J. Simons, Noah Joshua Phillips, elc , 2019).  fraud scam can be happended through online and physical interaction.but, , apparently , data shows that elderly has highest probability to be the victim of fraud scam through phone scams, due to its lack of operating a device  or internet technology.they lose  4 times more than other type of contact (Joseph J. Simons, Noah Joshua Phillips, elc , 2019).. Due, their born year are very late , the feel they are less threated as they grew up in a time with less usage of internet and technology, (Cecilia, 2020)

Because of this situation, they have been called ‘baby boomer’ (Kasasa, 2020). but, not every ‘baby boomer’ feel encourages using internet technology. Some of them, found it is difficult to identify reliable sites during online(Deseret News,2017), plus, they do not know how to really use IT ethically, this shows on the table 1, 48% of 65 and above years elderly said that they need helps to electronic devices the had never used before ( monica Anderson, Andrew perrin, 2017) .  Next, eventhough some of elderly has history of professional profision like engineers or accountants and know how to communicate very well to others, but, due to its aging brain, it will effects some of the cognitive decline, trust, personality of them(Rebecca Judges, 2015). Being wealth also can be one of the main reasons why senior citizen are the most suits victims of fraud scams(Mallika Mitra, 2019) .conclusion, this proposal is going to discussed why elderlies are prone to fraud scam and what are the solution and prevention can be taken to avoid this problem spreads

 Senior citizen, the first thing popped out in my head about them is money, commonly elderlies have much money investment for their old time. Do you know that, elderly have more disposable income and buying power than any other generation of population. This shows 70% have more disposable income and buying power. Which has total $7 trillion net worth. (James A. Morgan , 2015). , some of them also received  money income from children, and allowances from official authoritus hence, due to their age and situation aas fraud scams are related to money, this is why senior citizen is the most hitting people to be the victim of fraud scam, especially , if the fraud scammer use medicare and health care scams ,counterfeit prescription drug scams, funeral and cemetery scams, anti-aging product scams and telemarketing and phone scams as the ticket for them to make their plan is a success (NCOA, 2020), telemarketing scams, are the most common scams happened to elderly, scammer can tricked elderly by using free trial, incredible prizes or have the ooportunity to travel with cheap cost and etc, the scammers can be represented as banks official or investor and etc, so this makes a strong reason why elderly being influenced with the scammers.(seniorliving.org team, 2020)

 Usually, most fraud scams can be occurred through  either a phone call from  unauthorised or face to face interaction in the public because elderly are vanurable to high technology. Based on Canadian Centre  For Justice statisctis on 2007, 84% of people lost their money through telemarketing scams The scammers will used tactics of begging and tell them a little bit of his or her personal information, phone number and identity certificate number . so, the elderlies will assumed that the phone call he received is from the authorised . So how did the scammers found his personal information? Little did he knows, the usage of uncontrolled and unsafe of internet technology can be the roots of this problem, accessing a website without any security suites or firewall can be prone to third party or the unauhtorised to access his personal information. A usage of internet technology without a guidance assistant will make this problem even worser because there are no exposures and awareness has been given to any of them, The other causes are aging brain, due to its late age, some of cognitive decline(Rebecca judges ,2015) will occured,  some of cognitive decline happened on senior citizen would effect his life such as problems with memory, processing speed, problem solving and mathematical skills. most adult, including my grandmother has difficulty to communicate very well to others, which can lead them to confused and oversharing personal information. Hence,can be the best targeted victim because they are vulnerable,  some study shows,

Data from,  RUSH MEMORY AND AGING PROJECT(MAP), some participant, which is 91% asked make decision on financial by their house old, and only 88% makes decision by their own, and about 41% get help form spouse, child or outside household for financial decisions, and studies also shows that, people will facing cognitive drops over time, means that the older you are , the more decreasing cognitive will you experience. Thus, the effect of dropping cognition on financial literacy will be predicted over the time.others, seeking help in financial also affected by the decreased in cognition, surveys show that only 76 participant out of 146 participant seek out for help with their financial decision making,  meanwhile 70 others participant, making financial decision by their own, eventhough some of the citizen senior knows what is financial literature, still, must seek for help because you need a guidance to acknowledge the things you must do or prevent, since elderly fraud scam is a very common issue todays(JAMA, 2019). Do you know that, California Mobility said the biggest fraud scam among eldery, is  romance scam (California mobility, 2020). A report from CNN US, an 80 years old widower lost $200,00 in an online romance scam in Oregon.

Next, personality also can be one of the factors why senior citizens prone to fraud scams, but, personality is not the main factor of this problem, but based on studies,  agreeableness can be the benchmark, for this factor, which means, how a person can have the tendency to cooperate with other people (Rebecca Judges, 2015). Since , they are very honest and prone to have agreeableness to others, they could be more influenced by the scammers, plus, based on Caring Senior Care, senior citizen tend to have good self-esteem in them, since they have longer life timespan than the other generations Next, people with higher agreeableness has  more tendency to be manipulated(Rebecca Judges, 2015) , and   being a fraud victim. Researched by( Evans & Lee , 2014) shows, honesty also can triggered this problem of fraud scam, this is because, when adult have the honest behaviour, they also tend to expect people out there to behave honestly just like them. Furthermore,is, elderly is stubborn (michael Watson). some of them encourage to learn financial literacy by themselves, without any guidance assistant . The evidence is based on ,  RUSH MEMORY AND AGING PROJECT(MAP),  shows 88% of them make decision by their own . hence, can lead to fraud scams, since they are acknowledge anything about fraud scams, in my opinion, you must need a guidance assistant when you are new to something, as we do not have any either good or bad experience like the others as everything in the world has it owns disadvantages and advantages, someone says, Nothing is perfect in this world, everything has its pros and cons . .. – Nivendita Sharma.

   Lastly, there are some solutions and precaution can be taken of to ensure the dropping numbers of elderly fraud scams, , one of ways we can use is guardianships and protective  services, this report states,that, everyone in the states are free to fulfill their basic needs , but, to implement this services, it creates guardianship to ensure every citizen are save from any scams .this services  will happened if  person are protected by a guardianship ,  what is guardian ship? It’s duty is to protect the interest an incompetent person. This service will let Guardian-ship , have the power of citizen’s assets, but , court will ensure their guardian-ship are under strict view of court, so there will no exploitation  occurred  on citizen especially the vulnerable ones, the elderly (Carolyn L Dessin,2003). Next solution is ,  enhancing the punishment against elderly by increases the penalties, the difference between this law than to not elderly citizen, is the  law punishment are heavierr than the other generation, this is because elderly hitting higher as victim on fraud scam than the other individual.(Carolyn L. Dessin, 2003)