9 Scams to Watch Out for Your Senior Loved Ones in Malaysia

9 Scams to Watch Out for Your Senior Loved Ones in Malaysia - MalaysiaCaregiving Support

9 Scams to Watch Out for Your Senior Loved Ones in Malaysia

Seniors or those who are less tech-savvy are more susceptible to scams. Learn signs, common fraud in Malaysia, and immediate action to take in this article.

9 Scams to Watch Out for Your Senior Loved Ones in Malaysia

As the world becomes more connected via phone and the internet, this has garnered greater opportunities for people to stay in touch. Unfortunately, this connectivity can also be misused by others. Scammers are one of those. In some circumstances, scammers may target senior citizens in particular.

In this article, learn more about common scams to look out for in Malaysia. We will also uncover ways to prevent these cases from happening.

What is a Scam?

A scam is defined as an act to get youto part with your money or information through deception.

In this case, scammers will try to pretend or manipulate a senior’s feelings and thoughts to get their way. Scammers may target seniors in their scheme as they assume they have stored wealth. Otherwise, they may think the senior citizen is naive or less likely to report the issue. They may also prey on an elderly’s desire to help their family members and loved ones.

As some seniors may leave away from family, they do not have a close one to help detect if an offer is suspicious.

Signs of Scams to Watch Out For

Scammers can vary in their tactics. However, these are some signs of scams to watch out for.

  • Some scammers will try to impersonate someone that you know. Senior citizens may pretend to be a grandchild or an old friend in need. This may come from an account you know or an unknown one.
  • Scammers may assume the identity of a trusted organisation. For instance, they may indicate that they represent the government or a familiar bank.
  • You should feel suspicious if they provide you with a number or website to verify your issues. For instance, this may come in the form of a banking website to receive your information. If sensitive information is involved, such as a PIN or password, take a step back to think.
  • Most cases of scams appeal to your emotions. They will try to get their way by expressing how much they need your information, money, etc.
  • Scams also depend on the urgency of time. For instance, they may ask you to finish the task immediately. A person who has been caught up in a false alarm may go with the flow and offer their money without thinking of the consequences.
  • There are cases where the scam may come in a threatening or aggressive form. For instance, they could dictate a fine or imprisonment if you do not comply with their demands.
  • Scammers may overpromise what they can deliver. Therefore, if a deal seems too good to be true, it is likely to be the case.

Common Scams in Malaysia

The scams listed below are some scams for you to look out for your senior loved ones.

  • Social media scams

Photo credit:Panda Security

Social media scams can affect any age group. One of the most common versions would be the phishing scam. This is a cyberattack in which the scammer will pretend to be a legitimate organisation or individuals that you may know. This can come in the form of emails, texts, advertisements or other means. They may indicate that you have won a prize, asking you to confirm your interest or information. This may result in computer viruses, information leakage and more.

For senior citizens, getting a free gift or being notified by an impostor may not seem suspicious. This is because it is easy to believe things on the Internet, especially if they look like they come from credible sources.

  • Employment scams

In the years after the COVID-19 pandemic, jobs have become scarce, with economic times worsening. When there is an attractive offer for job seekers, this can pull people in. Usually, these would be listed on job sites with limited information. Otherwise, there may us the “get rich quick” tactic to entice job-seekers.

Senior citizens may be approached via messaging platforms such as WhatsApp. Although most senior citizens may be retired, some may be keen to get some income to ease the burden of their family caregivers.

  • Romance scams

This type of scam is also known as catfishing. Scammers wish to prey on lonely or single individuals online through social media or dating apps. While you may not think your senior citizen is susceptible to this tactic, it is better to be safe than sorry. The romance scammers will strategise ways to get the victim’s attention. After that, money transfer demands will come into play. This may come in the form of a medical emergency, personal crisis or even financing to meet up in real life.

Seniors who crave companionship, be it romantic or friendly, might go the extra mile to please their “lover” and fall for this scam.

  • Credit card scams

As online shopping becomes more common, scammers have adapted by claiming that the cards have been overcharged. Then, they would offer to get refunds if they are able to get a hold of your information. Some may also indicate lower interest rates as well.

Some seniors who have credit cards may have an accumulation of debt whereby credit card scams would be effective on this group of people as a result.

  • EPF scam

Source:KWSP Facebook Page

There may be scammers who impersonate Employment Provident Fund (EPF) officials. With this, they may offer personal loans or financial fees to those in need. However, with the premium charge at hand, this can go awry quickly for the victim and be required to give up their EPF funding.

During the pandemic, there was aspecial program initiative that allowed individuals to withdraw RM 10,000.00to ease cash flow. EPF did not authorise any third parties to carry out these transactions. However, many scammers took the opportunity to disguise themselves to assist or offer monetary benefits.

  • Fake pop-up security warnings

Photo credit :TechNave

For the tech-savvy, perhaps you or your loved ones may encounter this scam. A fake message may pop up and indicate that your system has been compromised. In order to rectify it, you may need to download security software. Through this, the scammer can collect private information or charge a fee.

It is easy for anyone to panic at the thought of a virus infecting the computer software. Therefore, when presented with an impostor pop-up solution, one might jump at the opportunity to pay for it. Senior citizens may feel embarrassed if they have caused trouble and may try to rectify the problem on their own.

  • Parcel scam / Cash-on-delivery (COD) scam

Photo credit:FOMO

In the online shopping and delivery age, having a courier person hang around in the neighbourhood is normal. However, there are scammers who make use of sending packages to homes and demanding cash-on-delivery (COD). The scammers are able to send out a tracking number to make it legitimate. An unsuspecting elderly may take the package and pay for it, thinking that someone in the home had ordered an item.

In order to avoid falling victim to this scam, make sure to keep each other informed if there are any packages to expect. Not only that, if you are receiving something suspicious, return the package to the delivery man and ask him to return it to the sender.

  • Investment scam

Some scams may come in the form of investment. For instance, theonline scheme syndicate Zuttelo had caused losses of about RM 84 million. They had offered nine packages, with returns of a minimum of 16.5% per month. A person may fall for this scheme, especially in the age of a smaller economy and the desire to manage living expenses.

  • Saving plan scam

Similarly, some scammers dupe people by sharing an attractive savings package. You would be asked to commit a monetary amount for a few months. Then, you are promised profits.

The‘sapiza ekstra saving’ scheme,for example, was carried out by 6 individuals in their 30s, offering attractive saving plans of as low as RM250 to RM20,000 for a period of two and five months. The scam involved losses amounting to a total of more than RM4 million.

Precautionary Measures to Avoid Falling for Scams

Scammers may come in contact with you or your loved ones. Here are a few precautionary measures that you could take, should the need arise.

  • Verify someone’s credibility.Whether they come to you as a government servant, banking agent or charity staff, you should determine if they are genuine.

  • Request their information.Do not be quick into providing your information before you know more about what they are promoting. Check their phone number or organisation. You can ask for their certifications, too.

  • Check with the authorities.For instance, you could check if your bank branch has an offer or not, as per the information given by the unknown number.

  • Sleep on it.If there are any interesting or attractive deals, do not make a decision immediately. You should not be pressured into investing in something. Check if you are still interested or not later in the week. Not only that, this helps you to discern whether something is too good to be true.

  • Refrain from non-secure payment methods.This may relate to money cheques or cryptocurrencies. Instead, credit cards have secured payment methods and are trackable.

  • Be aware of how you use the Internet.Here are some ways that you can protect yourself and your loved ones while browsing.

  • Visit webpages that use https over http, as https webpages are encrypted to protect data

  • Update your software and applications

  • Connect to secured networks

  • Change passwords regularly

  • Enrol in push notifications.Receiving alerts from your bank regarding purchases or withdrawals can help you to dispute bank scams and help you to stay vigilant.

  • Have a variety of emails and passwords.Keeping these sensitive combinations separate can lessen the chance of hackers getting access to everything.

Scammed: What’s Next?

Perhaps the unfortunate has happened: you or your senior loved ones have fallen victim to a scam. Regardless of the nature of the scam method, it is advisable to lodge a police report. You can do this by making your way to the nearest police station available. Here, they will ask for more details on the situation at hand.

Next, you can share this police report with the relevant agencies. This may include the bank involved or an organisation that the scammer was pretending to represent. If you have made any transactions, you can ask for your card or account to be disabled. This can prevent unwanted spending on the scammer’s part.

Share your experience with your loved ones so that everyone can learn from it. While it may seem embarrassing in hindsight, awareness can help to prevent future cases. When people are well-informed, they are less likely to be susceptible to the scammer’s tactics.

Seek Caregiving Support to Prevent Your Senior Loved Ones from Fraud

Having a caregiver at home for your loved ones can be the first line of defense against elder fraud. A caregiver can not only assist in the seniors’ daily needs and mobility but also helps them stay away from scammers’ infamous attempts by educating them on the different types of scams around. In urgent times, caregivers can act diligently in responding to scams.

Here at , we havetrained caregiversto monitor the well-being of your loved ones and do check-ins if something concerns them. Do you need caregiving support as such for your loved ones?

Contact us now for afree consultationby filling out the form below.

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