Flim-Flam and Senior Scams – a little bonus information today

I received this article in an email from Seniors helping Seniors of Seacoast and I thought it deserved to be shared, especially since I regularly blog on solutions for seniors.

Seniors can make easy targets for fraud, whether it’s for unbelievable investment returns or fraudulent sweepstakes prizes. Fraud on seniors can happen by phone, mail, in person, or, on the Internet. It can happen to wealthy seniors, and those of limited means. According to the Federal Trade Commission (FTC), studies show con artists are more likely to target senior citizens than other age groups because they believe seniors are more susceptible to such scams. The FTC reports that fraudulent telemarketers direct from 56-to-80% of their calls at seniors. The need for senior fraud prevention has become greater than ever.
According to the National Crime Prevention Council (NCPC), seniors age 60 and over are targets of 49% of telemarketing scams involving medical care services and products, 41% involving sweepstakes and prizes, and 40% involving magazine sales. The NCPC estimates that each victim of a sweepstakes scheme lost an average of $7,000.
The NCPC has put together a short guide on senior fraud prevention. Tape it by your loved one’s phone and he or she will always have a polite-but firm-comeback for unscrupulous come-ons. (Of course, the best way to get rid of someone you don’t want to talk to is to simply hang up.)

Tip #1: Never give personal information, such as bank account or social security numbers, to anyone over the phone, unless you initiated the call and know you’ve reached the right agency.
Comeback:”I don’t give out personal information over the phone. I’ll contact the company directly.”

Tip #2: Don’t believe it if the caller tells you to send money to cover the “handling charge” or to pay taxes.
Comeback:”I shouldn’t have to pay for something that’s free.”

Tip #3: “Limited time offers” shouldn’t require you to make a decision on the spot.
Comeback:”I’ll think about it and call you back. What’s your number?”

Tip #4: Be suspicious of anyone who tells you not to discuss the offer with someone else.
Comeback:”I’ll discuss it with my family and friends and get back to you.”

Tip #5: If you don’t understand all the verbal details, ask for it in writing.
Comeback:”I can’t make a decision until I receive written information.”

The scammer will most likely keep trying to convince his intended victim, so it’s best to hang up after delivering the comeback line.

Educating seniors about the different types of fraud and how to fight back can go a long way toward effective senior fraud prevention. Fraud is under-reported, partly because the victim is embarrassed. Many seniors are afraid of losing their independence, so they won’t tell their loved ones if they were defrauded, because they don’t want them to take their checkbook away.

I believe the above article was timely for all of us, as who doesn’t get these calls?

I personally inform telemarketers calling for me to contribute that I will not give out any financial information to incoming calls, even to contribute to causes that I support. I also will not reward telemarketers by contributing by mail as a result of their call, as I will intentionally bypass any way they get credit if I do choose to donate.

What do you do with these telemarketing calls? Feel free to comment.

Be blessed,

Ron

Ron McLean, the Dream Roper, helping YOU Lasso Your Dreams
text/cell: 864-404-6696
dreamroper.com
Schedule a call – ronmclean.biz