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elderly-telemarketing-fraud Part 1 in a series about protecting the elderly from different forms of fraud.

It is not just the lonely or isolated  individuals that fall victim to fraudulent attempts to part them from their money. Many victims of fraud are actually active individuals who are tempted by savvy criminals who offer great-sounding deals. It is important to keep in mind that the people peddling these deals are not just pushy salespeople; they are hardened criminals who make a living separating victims from their life savings. The following warning signs can help you identify tactics that may indicate your loved one is the target of less than legitimate telemarketers.

Warning signs of telemarketing scams.

  • Frequent calls from strangers- In most cases these calls will be offering great opportunities to make money or offering valuable rewards. In some cases the caller may ask for charitable contributions. Remind your parents or older relatives that any opportunity that sounds too good to be true probably is and if they really want to donate to charity they are better off contacting the charity of their choice directly.

  • Receiving junk mail- We all receive junk mail however if you notice an increase in junk mail for sweepstakes, prizes and free trips it may be a sign the recipient of the mail has been targeted as a potential victim of fraud. In addition to junk mail you should also be on the lookout for cheaply made items such as costume jewelry, beauty products or other items that may represent “valuable” prizes won in return for participating in some of these sweepstakes or contests.

  • Money requests-If you or a loved one receive any requests for money or payments to be sent to unfamiliar out of state companies this is a big red flag that should be not be ignored. Scammers often contact victims with offers of claiming money if the victim sends money to help process the payment or claim to be a relative traveling and in need of cash. Any repeated or large payments to out of state locations should be investigated.

  • Requests for personal information- Legitimate companies will not contact you via telephone or email asking for personal information such as your social security number, credit card number, bank account number or other financial information. If you or someone you know receive this type of correspondence DO NOT give any information to the caller or respond via email. Always contact your financial institution directly at the telephone number found on your credit card or statement (not a number given via email or caller) if you have concerns about your account.

 

Steps to prevent becoming a victim.

 

  1. Become familiar with your loved one’s finances. This may be harder for individuals who are active and in charge of their finances however it is important to know how much money they have coming in and from where as well as their regular expenses.

  2. Recommend direct deposit of income if this option is available.

  3. Encourage your loved one to consult a lawyer before taking legal steps such as deeding a house or assets or changing their will.

  4. Make sure your loved one opens and sends his/her own mail.

  5. Help your loved one understand the many scams and tactics that are being used to target the elderly so they are better prepared if they are approached by a fraudulent telemarketer.



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