{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"SN 5 EP 3: Protecting Aging Parents from Scams (Part II)","description":"In this episode of Black Parents Aging, Olivia Smith and Nicola Robinson continue their conversation on elder fraud by focusing on investment scams, cryptocurrency fraud, and sweepstakes scams that disproportionately target older adults. They discuss how scammers pose as investment professionals promising to double or triple retirement savings, why cryptocurrency scams are especially dangerous because the money is nearly impossible to recover, and how classic sweepstakes scams still trap many seniors today. The conversation also shifts to practical steps families can take to protect aging parents and grandparents, including having open conversations about scams, freezing credit, blocking suspicious calls, monitoring financial accounts, and using tools like powers of attorney to help oversee finances. The episode closes with warning signs families should look for and resources available to report elder fraud and scams. Key Takeaways \u2022 Cryptocurrency and investment scams caused over $1.6 billion in losses for victims over 60 in 2024. \u2022 Any investment promising to double or triple your money quickly is likely a scam. \u2022 Cryptocurrency scams are especially dangerous because once the money is sent, it is extremely difficult to recover. \u2022 Sweepstakes scams often ask victims to pay a fee or taxes upfront to claim a fake prize. \u2022 Simply talking with aging parents or grandparents about scams can significantly reduce their risk of falling victim. \u2022 Tools like the Do Not Call Registry, call blocking, and credit freezes can help protect against fraud. \u2022 Services such as EverSafe or Carefull can monitor accounts for unusual transactions or hidden subscription charges. \u2022 A Power of Attorney can allow trusted family members to monitor financial accounts and protect loved ones. \u2022 Sudden financial trouble, excessive packages, or unusual spending may be red flags of a scam. \u2022 Elder fraud can be reported to the FBI\u2019s Internet Crime Complaint Center (IC3) or the National Elder Fraud Hotline. ","author_name":"Black Parents Aging Podcast","author_url":"http:\/\/blackparentsaging.libsyn.com\/website","html":"