Older adults are especially vulnerable to financial scams and fraud. It's estimated there are roughly 1 million elderly victims of financial crime in the United States every year.

Scams can involve home repairs or maintenance that are done poorly or paid for in advance but never completed, questionable charities, identity theft, or predatory investing or lending practices.

With new scams and schemes popping up all the time, it's important to take steps to make sure you or any older person you are caring for aren't victimized.

Steps You Can Take to Protect Yourself or Your Loved One

There are a few steps you can take to help make it harder for you or your loved ones to be victimized:

1. Register for the Do Not Call Registry.
Registering for the Do Not Call List can cut down on unsolicited calls and offers and help block companies that may be calling with shady deals and unscrupulous business practices.

Registering is free and takes only a few moments. To register, dial (888) 382-1222 from the phone number you want to register. A voice-prompt will walk you through.

You can also register online at www.donotcall.gov. You will need to provide a working e-mail address to complete the process online.

2. Opt out of unsolicited mail offers.
You can also  register to stop receiving prescreened offers of credit in the mail. To opt out for yourself or a loved one, you can call: 1-888-5-OPT-OUT (1-888-567-8688) or visit www.optoutprescreen.com .

Note: You will be asked to provide your Social Security number which the consumer reporting companies need to match you with your file.

3. Make sure phone numbers are unlisted.
Why give potential scam artists free access to the tools they need to get in the door and start the conversation.

Call the phone company and ask that your or your loved one's phone number be unlisted.  You may also have to work with online "white pages" providers to get your loved one's information removed from their sites.  Whitepages. com and switchboard.com are two popular sites.

4. Be careful with personal information.
Shred any document that has a signature, account number, social security number, or medical or legal information. It's also a good idea to shred credit card offers.

Tips when caring for an older parent or loved one

1. Get to know the folks at your loved one's banking or financial institutions.
These folks can often be the best allies in making sure your loved ones aren't victims. Ask them to let you know if your loved one is making any out-of-the ordinary or large transactions.

2. If possible, periodically take a look at your loved one's financial statements.
Look for large transactions or payments to people or institutions you don't know.

3. Keep the lines of communications open.
Keep your ears open for current scams involving the elderly and tell your loved ones about them so they can be aware and on guard. The Michigan Office of the Attorney General regularly issues consumers alerts regarding fraud and scams targeting seniors. To view a list of current alerts visit the Michigan Office of the Attorney General website. The Attorney General's office also sponsors www.seniorbrigade.com. This site lists many common scams and has tips on protecting yourself or a loved one.

Also, ask your loved one to keep you in the loop about any big financial decisions they are considering.

What Can To Do If You Discover You or a Loved One Has Been a Victim

If you or a loved one has been the victim of financial fraud, it's important to go to the authorities. You or your loved one may feel embarrassed and may be hesitant to report this crime, but reporting is essential. While it may not get your money back, it can help ensure others aren't victimized. Also, especially in the case of identity theft, it may help prevent further damage. You can report suspected fraud or identity theft to your local police department or the Office of the Michigan Attorney General.