Sadly, older adults, particularly those with dementia symptoms and memory problems, are prime targets for financial fraud. Families can struggle to find the right balance between protecting their elder relatives’ finances and maintaining the independence for ordinary daily purchases at a coffee shop or grocery store.
Controlled Spending
TrueLink Prepaid Visa® allows a family member to set an amount that triggers an alert as well as block certain payments such as telemarketers and TV shopping. The card can also provide petty cash with spending limits for caregivers to run errands and make purchases for older adults.
Tracking Spending Patterns
EverSafe® (www.eversafe.com) specialized protection for senior citizens analyzes transaction patterns to spot anomalies and unusual activity such as missing deposits and late bills. Suspicious activity alerts are sent to a “trusted advocate” by email, text, phone, or the EverSafe® app.
Bill Payment Service
SilverBills® bill payment service assures timely payment of bills and examines bills for potential fraud
