Your parents, especially those who live alone, are vulnerable to scams and schemes for three reasons. First, seniors tend to be trusting. Many elders may also be lonely and sometimes distant from those who can protect them. Senior parents are also vulnerable because they worry about their financial security. Finally, many scammers target the elderly knowing many seniors have money and valuable possessions.

Even though approximately 50 percent of elderly Americans are victims of financial exploitation, only 10 to 15 percent of the abuses are reported.

The following may indicate that your parents are being victimized:

• Sudden bank account changes, especially an unexplained withdrawal of large sums of money
• Unfamiliar long-distance telephone numbers, especially from overseas, on their monthly bill
• Significantly lower standard of living (change in eating and shopping habits; unable to afford things they once afforded)
• Selling higher-end items such as furniture, antiques, and so on
• Sudden disappearance of valuable possessions
• Increase in commercial or junk mail
• Sudden change in behavior: symptoms of depression or anxiety
• Increased worries over money

Your parents protected you when you were young with advice and example. Look both ways before crossing the street, never speak to strangers, and a host of other suggestions were meant to protect you. Sadly, our parents reach a point where they need us to protect them!

Next... six tips to protect your senior parents...