The Senior Scene

(Pictured: Scammers imitate voices in phone calls by manipulating voice clips.)

Amid technology advances enabling scammers to commit fraud, elders and their loved ones need to stay informed.

Typically, elder scams involve the transfer of money to a stranger or imposter for a promised benefit or good. In 2023, banks reported more than $27 billion in suspicious activity related to elder scams, according to the Financial Crimes Enforcement Network, and reports filed by the public to the Federal Bureau of Investigation indicated an average loss of more than $33,000 per case. And these numbers may be conservative, as cases may be underreported.

One technology behind these staggering figures is artificial intelligence (AI). Advanced methods of masking one’s identity using AI make it difficult to detect fakes. Voice print – or voice clone – scamming is becoming more of an issue when it comes to impersonation fraud. Using voice clips from social media or by calling and having a brief conversation with someone, criminals can generate an imitation to be used as part of their ruse.

“Older adults are often easier prey for these types of fakes, because a recognized voice when applied to certain scam strategies is often enough to elicit action,” said Mark Kwapiszeski, head of enterprise fraud at PNC Bank.

Most scams generally follow one or two main strategies: Elicit strong feelings and apply a sense of urgency to get someone to act quickly before thinking, and/or entice someone with an offer that seems too good to be true, yet too alluring to pass up. Here are some of the more common types of elder scams:

• Tech support. A caller claims they need to remotely access the victim’s computer to fix a software problem, then use that access to steal personal or financial information.

• Government imposter. The fraudster may say a victim owes a debt that must be paid immediately or face arrest, asset seizure, or termination of benefits.

• Grandparent. An elaborate story is given by phone, claiming a loved one is in trouble and needs money to be protected.

• Investment. The scammer makes claims of a high-return investment to trick the victim into giving them money, often asking to be paid in an unconventional way, like cryptocurrency, where there’s little to no chance of recovering the funds.

• Romance. The scammer develops a fake identity and creates the illusion of a romantic relationship to manipulate or steal from the victim.

• Lottery/sweepstakes. Scammers by phone or mail tell the victim they’ve won the lottery or a sweepstakes but must remit a processing fee before they can get their prize.

The most effective way of preventing fraud is to pause when being rushed and verify the legitimacy of both the person making contact and their claims. To reduce the odds of your voice being cloned, experts suggest exercising caution when speaking on the phone with strangers. If someone unfamiliar contacts you, hang up the phone, get a number for the purported company, government agency or family member from a trusted source (such as a company’s official website) and use that to call back and verify.

Be leery of anyone asking for nontraditional payment forms, and when logic may be clouded by romantic feelings, confide in someone you trust for an objective opinion.

If you believe you or someone else is a victim of fraud, contact the U.S. Department of Justice Office for Victims of Crime’s National Elder Fraud Hotline website or call 1-833-FRAUD11.

Source: StatePoint Media

(Pictured: Traditional burial methods, such as cremation, are being passed over by consumers who choose non-traditional methods.)

Since time immemorial, contemplating one’s own funeral has been an awkward yet unavoidable aspect of life. Traditionally, the decision seemed straightforward: Burial or cremation. But as society’s values shift, so, too, do the ways we consider our post-mortem journey.

The trend toward environmentally conscious funeral options is on the rise as awareness spreads. Choice Mutual, a Reno, Nev.-based company that specializes in funeral insurance for seniors in the U.S., surveyed 6,000 people to gauge preferences for non-traditional burial methods. The findings were revealing, highlighting a growing interest in eco-friendly funeral alternatives.

• The most popular option among Americans was Green Burials. This method skips the embalming process and uses biodegradable caskets or shrouds. The aim is to allow the body to decompose naturally and return to the earth without harming the environment.
• In second place came Natural Organic Reduction (Human Composting). This method involves placing the body in a special vessel with organic materials like wood chips and straw. Over several weeks, the body decomposes naturally, turning into nutrient-rich soil.
• A surprising choice emerged as the third-most popular: Tree Pod Burials. The body is placed in a biodegradable pod that is then buried in the ground. A tree is planted above the pod, and as the body decomposes, it nourishes the tree
• Memorial Reefs was the fourth-most popular pick. This involves creating artificial coral reefs using remains mixed into an environmentally safe cement. These reefs provide habitats for marine life and help restore endangered coral ecosystems. An alternative approach is to create a reef ball from the cremated remains
• In fifth place was Mushroom Suits–a biodegradable burial suit or shroud embedded with mushroom spores. The mushrooms decompose the body and neutralize toxins that are released during decomposition.
• Aquamation (Alkaline Hydrolysis) was the sixth-most sought after method. Also known as water cremation, this process uses water and lye to break down the body. It’s more eco-friendly than traditional cremation since it uses less energy and releases fewer emissions.
• Space Burials, which came in sevnth, is an avant-garde choice that involves sending ashes into orbit. There are environmental concerns about space debris.

With personal debt in America soaring, 45% cite the high costs associated with traditional funerals — typically between $7,000 and $12,000 — as the major concern. These expenses often cover a range of services, including casket purchase, service fees, burial vault, and costs for the gravesite and its preparation, not to mention headstones and funeral ceremonies.

Regarding funeral funding, life insurance is expected to cover the costs for 39% of respondents. Personal savings are the anticipated source for 29%, while 11% may rely on family contributions. A small fraction, 3%, even consider crowdfunding as an option.

By Christina Clem

Social Security is your money — you earned it through a lifetime of hard work. And, like most Americans, that money is needed to help cover living expenses and pay bills. Nearly one in six Washington residents – 1.4 million people – receive Social Security benefits, and 36 percent of residents 65 and older rely on them for at least half of their income.

Here are five things to know about Social Security:

1. When can I start collecting Social Security?

You are eligible as early as age 62. However, the longer you wait to start collecting after you become eligible (up until age 70), the larger your annual payments will be. For those who are eligible for survivor benefits or Social Security Disability Insurance (SSDI), you can start collecting earlier.

• Can I collect Social Security while working?

Yes. In fact, 26 percent of Social Security recipients in 2023 were still working. But if you are below full retirement age (67) and earn more than a certain amount, your monthly payments will be temporarily reduced. Once you reach full retirement age, your payments will be increased to make up for any previous reduction in benefits caused by earning more than the limit.

• How much will I receive each year?

Your Social Security income will depend on multiple factors, but the most important is your lifetime earnings from work. The Social Security Administration takes your 35 highest-earnings years, calculates an inflation-adjusted average, and plugs this information into a formula to find your “basic” benefit. How old you are when you claim Social Security will also impact the amount you receive. AARP’s Social Security Calculator, at aarp.org/socialsecurity, can help you estimate how much you will receive.

• What is the maximum payment I can receive each month?

In 2023, the highest monthly payment for Social Security was $3,627. However, the average retirement benefit is $1,833. To receive the maximum payment, your earnings must exceed the maximum taxable income for at least 35 working years, and you must be at full retirement age, which is age 67 for people born in 1960 or later.

• How do I sign up for Social Security?

You can apply for retirement, spousal, or disability benefits online at ssa.gov, by phone at 1-800-772-1213, or in person at a local Social Security office. Find the local office closest to you at ssa.gov/locator.

Christina Clem is AARP Washington’s communications manager.