As we age, we need more resources to protect us against things like financial fraud. Educational programs for older adults can help protect us against financial fraud and predatory lending as well as becoming aware of reverse mortgages and learning how to select an appropriate option. Programs that provide tax assistance can support those older residents most in need. Bank personnel trained to detect financial fraud can help protect those of us who are older clients. Making sure that as we age we know how to contact law enforcement in the event of fraudulent financial schemes reduces future victimization. To create a just society, it is our responsibility to protect ourselves and each other by engaging in inventive solutions and programs that protect us from fraud. (Frameworks Institute, 2017)
**In order to maximize your communication and productivity with your audience, please reference the best practices created by The Frameworks Institute on the Characteristics main page.
Data to inform the discussion around this characteristic.
- Presence of financial education opportunities specifically for older adults
- Presence of fraud/scam alert systems or public announcements
- Presence of programs providing tax assistance to older residents
Activities to help contextualize this characteristic.
- Budget exercise: Look up the median income for older adults in your county (or use the Federal Poverty Level as an example). Ask participants to create a simple budget, including rent (or property taxes), food, utilities, healthcare, etc. Compare this to community prices (e.g., rent).
- Speaker re: scams in the area (e.g., from police department, Better Business Bureau)
- Thought exercise: What would your parent/grandparent do if he or she received a scam email or telephone call? This could either be a group discussion, or could involve a role play
Success Stories from local communities.
- TRIAD (The Right Information And Direction) is a program that brings county law enforcement and older adults in the county together to enhance the quality of life of older adults through education, assistance, communication, involvement, and active participation in statewide programs and projects. This program involves partnering law enforcement, older adults, and agencies serving older adults to help reduce criminal victimization of older adults.
- The Wisconsin Department of Agriculture, Trade and Consumer Protection gave talks on fraud and scams, including a booth at Farm Tech Days in Walworth County in 2016.
Resources and other ideas for next steps.
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