Daniel Klibanoff

Daniel Klibanoff believes poverty usually lasts generations. Evidence suggests that based on where someone grows up, their race or ethnicity affects their economic opportunities and outcomes due to systemic racism and other structural barriers. This factor makes it more difficult for children from low-income families to achieve financial stability in adulthood.

 Across the United States, communities, governments, and funders are now becoming more interested in two-generation approaches to breaking the cycle of poverty. Daniel Klibanoff believes that by focusing two-generation services on a specific geographic area, organizations will be able to better understand and respond to community members. Additionally, it will allow them to make better investments in the communities they help.

 Given this approach, Daniel Klibanoff realizes that people investing in community-focused work should educate themselves about the community-level factors affecting families' opportunities and constraints, like neighborhood demographics and history, adult employment and education opportunities, as well as other necessary services. They should also consider involving residents and long-established community-serving organizations, experts on local issues, and sources of critical insights.

 Define the framework and goals

Daniel Klibanoff believes identifying a shared vision from the start can improve families' experiences. A community must have a framework that includes services for each generation, services for entire families, and the "glue" that connects them all.

 Ensure racial and ethnic inclusion

Racism and racial and ethnic exclusion have deep roots in low-income service delivery. White decision-makers frequently determine what communities of color "need" and how to provide it without consulting community members. Therefore, Daniel Klibanoff believes disrupting racist paradigms necessitates genuine power-sharing—involving disenfranchised families and communities in developing strategies to build wealth and improve stability, providing the necessary resources and tools to act.

 Engage stakeholders at multiple organizational levels

Financial scammers target older adults who live alone, have a sole caregiver, keep a retirement nest egg, or have an extreme credit rating. These are just a few factors that make seniors vulnerable to financial fraud. In this blog post, Daniel Klibanoff shares five steps young adults can take to protect their parents and grandparents from financial scams.

 The first step to keeping the elderly safe from financial fraud is to discuss the subject. Avoiding conversations about financial matters contribute to the older adults’ vulnerability to scams. Start the conversation and be preemptively involved. Be empathetic when you talk about the topic with older adults. Be patient and make sure to listen to new questions to better assist. 

 Check their privacy settings. If possible, ask the older adult for their devices like smartphones, tablets, laptops, and computers to examine their privacy settings. Change and update as necessary and inform them of any changes made to their devices. Older adults who may be tech-savvy might still need assistance checking from time to time. 

Keep having the conversation about finances to prevent unwanted online transactions.  According to Daniel Klibanoff, senior citizens who can still make sound decisions about their estate should be encouraged to put high-level financial protection such as a durable power of attorney for asset management. A healthcare advance directive or a living will ensure an older adult's wishes are fulfilled when they cannot make decisions for themselves. Moreover, maintaining an estate plan is essential in keeping funds, resources, and properties in safe hands.

 Those who are more hands-on in keeping their parents and grandparents safe from financial crimes must stay in contact with them. Please keep track of new scams and talk to them. It's always best to check in on your loved ones to ensure their safety in every way, including financial security.

Senior fraud is a massive issue that results in incredible financial losses and physical and mental problems. To avoid being a target of such fraudulent acts, older adults, their relatives, and caregivers must know how to spot these scams. In this blog post, Daniel Klibanoff shares tips on not falling prey to elder fraud.

 The internet is a space that can be overwhelming and intimidating for older adults. While they may maintain accounts on social media or keep their email addresses active, they still may not be able to identify secure pages from fake ones. In fact, one of the most common phishing techniques includes messages about health, friendship, and financial support.

 Ask for their full details. When contacted by possible fraudsters through suspicious phone calls or messages, be sure to get their full name, title, and business with the purported company. Directly call the company to ask about the representative or search for their information online.

 Keep calm. Some scammers speak with urgency to stir up panic in an individual. Instead, stay focused and gather all necessary information about the caller and the message they are relaying. Acting in a hurry may result in unwanted financial losses, notes Daniel Klibanoff.

Keep financial information to yourself and trusted loved ones. Unverified persons and businesses may be persistent in asking the older adult about their banking or other personal information. Never share it with others outside of your trusted circle and verified institutions.

 Ensure your devices are up to date. Installing updated antivirus software on one's computer is important to prevent financial trojans. Should this step be too difficult, it's always best to ask for help from loved ones and trusted friends. Sometimes, one can sense real danger following a conversation or transaction with a scammer. Seek help from the police immediately to ensure one's safety.

Senior fraud is a growing problem as it becomes easier for criminals to target the elderly. Falling victim to this kind of fraud can take a toll on the elderly, who are already regarded as one of the most vulnerable populations in the nation. Aside from its obvious effect on finances, fraud can also impact one’s well-being. In this post, Daniel Klibanoff explains several ways family members or caregivers can help prevent senior fraud from occurring.

Taking Action

Educating elderly family members on fraud risks and prevention is a crucial first step. One important strategy to teach your older family members is to avoid rushing into significant financial decisions. Trustworthy businesses, organizations, and government entities will not coerce people from making sudden decisions regarding their finances. In contrast, scammers regularly attempt to entice their victims with limited time offers, which will expire if action is not taken immediately.

Remind your loved ones to be careful when using the internet or accessing online accounts. Clicking links from unknown sources can lead to viruses such as key-loggers which can steal account information as it is entered into online forms without the user even being aware of it.

Look for Red Flags

Check on elderly family members regularly, particularly regarding financial activities. Discuss their recent financial transactions with them to check for red flags.

Daniel Klibanoff also recommends helping older relatives remove their mobile numbers from call lists to avoid cold call scams. In addition, the Federal Trade Commission has provided a National Do Not Call registry that adults can sign up for so that their entries can be taken off telemarketing lists.

Staying up to date on fraud prevention tips is also advantageous. There are websites such as Fraud.org that offer regular updates and information about the latest scams and fraud assistance resources providers like the FTC, National Fraud Information Center, and the American Association of Retired Persons.

The elderly are often the target of scams because they are more trusting and less likely to report fraudulent activity. Consumer advocate and senior fraud subject matter expert Daniel Klibanoff discusses some of the biggest scams that target the elderly in the US and abroad.

The Nigerian Prince Scam

During this scam, someone pretends to be a wealthy Nigerian prince who needs help transferring money out of the country. The scammers will usually ask for personal information or money upfront, promising a large sum in return.

The Grandparent Scam

In this scam, the offender poses as the victim’s grandchild asking for emergency money or resources for a made-up emergency situation. These scammers typically have done their research first, finding pertinent information about the victim’s grandchildren and family.

The Ponzi Scheme

A Ponzi Scheme is a type of investment fraud wherein people are promised high returns for investing in a product. Daniel Klibanoff explains that this scam can be hard to spot, as it can go on for years before the scheme collapses.

The Medical Insurance Scam

This scam involves someone who will call the elderly and pretend to be from their health insurance company. They will say that the elderly’s policy has been canceled, and they need to make a payment to reinstate it. They may also ask for personal information such as credit card details or Social Security number.

The Lottery Scam

In this scam, someone will call or email their victim saying they have won the lottery. They will then ask for personal information or money to cover taxes or fees before the prize can be released.

It is important to be aware of these scams and never give out personal information or money to someone you don’t know. If you think you or someone you know may have been a victim of such fraudulent practices, Daniel Klibanoff urges you to contact your local law enforcement immediately.

Senior fraud is on the rise. The Federal Trade Commission has reported that impostor scams increased by nearly 50% from 2017 to 2018, and the number of cases is likely to have ballooned since. Impostor scams are when someone poses as a government official, business representative, or someone else to trick you into giving them money.

 There are different types of senior fraud. Daniel Klibanoff shares some of the most common ones below:

 IRS scams: In this scam, someone will pose as an IRS agent and claim that you owe back taxes. These scammers may threaten to arrest you or take away your Social Security benefits if you don't pay up immediately.

 Grandparent scams: Here, a con artist will call or send an email posing as your grandchild. They'll say they're in trouble and need money right away.

 Medicare scams: For this fraud, someone will pose as a Medicare representative and try to get personal information such as Social Security numbers or credit card numbers. They may say you need to sign up for a new Medicare plan or that you can get a free health care service.

Getting help

If you think you've been a victim of senior fraud, Daniel Klibanoff lists some of the things you can do immediately:

 Place     a call to your local law enforcement agency.

File     a complaint with the Federal Trade Commission.

Contact     your state's attorney general.

 You can also be more aware of senior fraud incidences by talking to your family and friends. Scammers are always coming up with new ways to trick people, so it's important to keep everyone in your life up to date on the latest frauds. In addition, warn your neighbors and other seniors in your community about senior fraud. The more people are aware of these scams, the less likely swindlers will be able to take advantage of them.

Senior fraud is a growing problem that can devastate businesses, communities, and individuals. In this article, Daniel Klibanoff looks at what constitutes senior fraud and how it is perpetrated.

Senior fraud occurs when someone has gained the trust of an older person and takes advantage of them for personal gain. This can happen in a number of ways, including tricking seniors into making rash financial decisions based on false information, stealing money or property from them through deceptive mailings or phone calls, or even physically harming them if they refuse to comply with demands.

One common form of senior fraud is when someone calls or writes a letter to the elderly pretending to be an official or employee of their bank or a trusted financial institution. They will then tell these seniors that they are at risk of losing all of their money and that to prevent this from happening, they need to personally transfer a portion of their savings into an account controlled by the perpetrator. These scammers will often use official-looking materials like business cards, stationery, and ID badges to make themselves appear more legitimate and trustworthy.

Another common form of senior fraud is when perpetrators convince seniors that they need expensive home repairs done to keep them safe at home. Once they have convinced someone to sign over thousands (or even hundreds of thousands) of dollars for these services, they will simply take the money and never do any of the work they promised.

Other scammers target seniors by offering them giveaway gifts or sweepstakes prizes if they will provide their personal information, like credit card or Social Security number. These perpetrators then use this information to make unauthorized charges on the senior's accounts or apply for a new credit card in their name.

So, what does all this mean for seniors and their loved ones? Daniel Klibanoff says that everyone must be aware of the risks associated with senior fraud and do everything they can to protect themselves from these crimes.