In an effort to combat the spike in elder fraud cases seen throughout San Antonio, local councilmembers hosted an Elderly Fraud Town Hall yesterday evening. According to data mentioned at the event, San Antonio Police Department received over 8,000 fraud reports in 2023, outnumbering burglary cases in the city. Tricia Richardson, a representative from Frost Bank, gave clear advice at the Town Hall: "If you’re ever asked to keep a secret from or lie to a bank, a family member or the police, it’s a scam," as per FOX San Antonio.
Common cons include door-to-door salespeople pushing fraudulent contracts for solar panels and callers impersonating law enforcement to strong-arm victims into paying fake fines. San Antonio resident Susan Ponce recounted her close call with scammers to FOX San Antonio, "They had us sign the iPad and poof nobody ever came out, then a second company came and said the same thing and I was like oh this sounds too familiar." SAPD confirmed that the department will not call to request money over the phone, suggesting instead visiting a substation to verify any pending cases.
Meanwhile, on World Elder Abuse Awareness Day, attention has also been drawn to the broader issue of elder abuse, which often takes the shape of financial exploitation. Approximately 1 in 10 older Americans faces abuse yearly, with as many as 5 million seniors affected, and financial scams being the predominant form, according to the National Council on Aging cited by Consumer Reports. Many victims know their abusers, though stranger scams can be particularly devastating, sometimes loot in mere moments what it took a lifetime to save.
Legislative and institutional efforts are starting to make an impact on this troubling trend as banks and other financial bodies are training staff to notice signs of potential elder fraud. The House of Representatives has shown bipartisan support for The Stop Senior Scams Act, which aims to educate payment processors about their crucial role in stopping these scams. According to Jilenne Gunther from AARP's Public Policy Institute, "Many institutions have joined the fight, but more must be done to protect the hard-earned life savings of older adults," as stated by Consumer Reports.
