Video Transcript

All too often, I see the heartbreaking impact that financial fraud has on our customers. Unfortunately, seniors are frequently the target of these schemes. 

Old National wants to put a stop to this exploitation, which is why we've developed Money Safety for Seniors. This comprehensive program shines a light on the common tactics used to confuse and exploit seniors and provide strategies for staying safe.

Today, I am going to talk a little bit about some common scams that we encounter, what they are, how we can detect them, and action steps if you or your loved one has become a victim of financial fraud.

A lottery scam is just one example of an advance fee scam, where fraudsters try to convince potential victims that if they pay money, they will get more money or something of great value. Remember, you can't win a lottery without a ticket. There are no such things as email draws, or other lotteries where no tickets were sold. This is simply another invention by the scammer to make the victims believe they have won.

IRS scams are very common, especially around tax season. Remember, the government will never call you about back taxes unless you've been notified previously in writing. If you have not been notified in writing that you owe the IRS money, it is likely a scam. Hang up on the caller, and go to your local IRS office and talk to someone in person.

One of the best ways to avoid a real estate scam is to work with a reputable real estate agent, preferably one that you have a reference from and can verify they are legitimate. Be very cautious of large fees when transacting real estate.

Sweetheart scams are also known as online dating scams.

Meeting people online is not a bad thing, just be cautious when communicating with individuals outside your region or country.

If someone wants to send you money and asks you to send it back to someone else, always ask, "Why can't the money "be sent directly to the individual?"

Oftentimes, this movement is an attempt to launder the money.

If you believe you have fallen victim to financial fraud, Old National is here to help. Call our fraud prevention hotline at 844-662-4777.

More ways to secure your personal information

Our online security center provides additional actions you can take to protect yourself from financial fraud.

This content is not intended to provide legal, tax, accounting, financial or investment advice or indicate the suitability of any product or service for your unique circumstances. You are encouraged to consult with a qualified legal, tax, accounting, financial or investment professional based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.