Protecting Loved Ones from Scammers: 5 Tips to Keep Them Safe
It’s natural to want to look out for each other, especially our parents and grandparents. Small-town Nebraskans are known for their strong values and close-knit relationships. But did you know that these very qualities can make our older relatives prime targets for scammers? Let’s dive into five essential tips to help safeguard your loved ones from financial scams.
1. Awareness is Key: Discuss Common Scams
Open up a dialogue with your older relatives about the kinds of scams they might encounter. From emails claiming they’ve won the lottery to phone calls from “family members” in distress, knowing the common schemes can help them identify red flags. Emphasize that legitimate organizations will never ask for sensitive information like Social Security numbers or bank details over the phone or via email.
2. Avoid Clicking on Unknown Links
A simple rule to live by: Never click on links in unexpected emails, texts, or social media messages. This is often how scammers gain access to personal information. Encourage your loved ones to verify the legitimacy of any communication by contacting companies directly through official channels.
3. Introduce Strong Passwords
Strong, unique passwords are a must. Help your loved ones create passwords that are difficult to guess, and consider setting up a password manager like 1Password or LastPass. Avoid using easily guessed passwords like birthdays or common phrases and instead use passphrases — an entire sentence or phrase that is easy for them to remember but would be difficult for a stranger to guess.
4. Implement a “Safe Word”
With the rise of sophisticated scams like AI voice clones, setting up a “safe word” can add an extra layer of security. Teach your relatives to ask for this pre-agreed word when someone claiming to be a family member calls asking for help. This simple step can quickly expose a scammer.
5. Discuss Urgency and Pressure Tactics
Scammers often create a false sense of urgency to prompt quick action. Whether it’s a salesperson urging them to buy a product immediately or a supposed grandchild needing bail money right away, take a step back to verify the situation. Encourage your loved ones to pause, reflect, and consult with a trusted person before making any decisions.
Already Scammed? Recover Quickly
If a scam does occur, it’s crucial to act swiftly. Report the incident to financial institutions, ensuring all accounts are secure. Consider implementing two-factor authentication on digital accounts to ward off further attempts. The National Elder Fraud Hotline (833-FRAUD-11) is also a valuable resource for reporting scams and seeking assistance.
Find a Financial Partner You Can Trust
At Farmers & Merchants Bank, we understand the importance of protecting those who matter most to you. With our roots deeply embedded in Nebraska, we’re committed to the well-being of our community. You can always count on us for reliable service and support, helping you protect your finances and your loved ones against potential threats.
For more information on safeguarding your and your loved ones’ finances, please visit our cybersecurity and fraud prevention resources. Our dedicated team is always here to help ensure your peace of mind.