United Bank Helps To Prevent Elder Abuse
By Thomas Williams, Senior Vice President, United Bank
CRCM, CCBIA, ACT Specialist
United Bank is Taking a Stand Against Financial Exploitation
• Senior adults are more trusting or willing to listen.
• The senior population is grateful for the attention and enjoys personal interaction with others.
• The elderly population is generally eager to help when they can.
Giveaways: If it sounds too good to be true, it probably is. Giveaway scams occur when a person receives a letter, email, or call that they are a winner. These scams typically require an immediate response and request an up-front payment to release the winnings or pay for the taxes.
Imposter Scams: The senior receives a call that a family member is in serious trouble, and money is required immediately to help them. The person on the phone asks that the issue remain a secret to drive emotions.
Charity Scams: The scammers use pressure tactics to encourage an elderly person to donate to a humanitarian cause.
Contractor Scams: Home repair scammers often target older homeowners. They may go door-to-door to solicit business and overcharge consumers, do a shoddy job, or take a payment without starting or completing the repair.
United Bank Customers Should Watch for Red Flags
• Urgent requests for payments to receive a prize
• Pressure to act immediately
• Use of scare tactics, e.g., a loved one is in danger, a computer has been hacked, or threatening arrest if no immediate action is taken
• Insistence for payments via gift cards, wire transfer, or cryptocurrency
• Get-rich-quick and other promises that sound too good to be true
• Promises to recover lost money in other scams for a fee
• A quick expression of love that only permeates online or over the phone, followed by requests for money to meet in person or help a loved one
If you suspect that you or a loved one has been exploited financially, please contact our fraud team at 770.567.7211, option 3. Our agents are available seven days a week, from 7am until 8pm.