WICHITA FALLS, Texas (TNN) - It's the crime of the 21st century and it's costing aging Americans almost three billion dollars a year. Elderly financial abuse is exploiting a growing chunk of Americans and it often goes unreported. To fight this issue, First National Bank offered a presentation to help educate. It taught seniors and their families how to protect themselves against financial exploitation.
“They bought things at Wal-Mart, bought groceries, bought gas and that was within an hour they'd done all that,” Richard Rust, who was in attendance said. “Well I'm just interested, there's so much crime and gimmicks out there and I thought I'd learn something,”
He's a pastor and hopes to share what he learned with his church. He wasn't the only one in the crowd that's been scammed. Sharon Wiltse has had her credit card information stolen multiple times.
“We had one card that had called us about a charge on our card, it was for like several hundred pounds of sugar from some foreign country, I had no idea what they we’re talking about,” Wiltse said.
While she's glad her credit card company was looking out for her, one of the things she learned is you need to keep an eye out and alert your bank as soon as you see something wrong.
“They can also provide you guidance on whether you need to put a freeze on your account, stop payment on an account, they’ll have all that information,” presenter from First National Bank Karen Hughes said.
Common scams, identity theft, and protecting account information are key points in this presentation. Today’s program is the first at Red Door Senior Center and we will be the first to let you know when the host the next one.