Elderly Are Targets of Fraud

By Donna Washburn, Eldercare Specialist
Lincoln LIFE (Lincoln Information For the Elderly) Office

Two publications have come across my desk recently on "Elder Fraud and Scams."

The first was from the Nebraska Attorney General's office. A key point to remember we all have heard: "if it sounds too good to be true, it probably is." Senior citizens are often targeted relentlessly. They tend to be trusting of callers. This time of year scam artists claim they can repair something in and around the home for a low price giving a hot deal the home owner can't pass up. Tell your older person to be wary. Who doesn't want to strike it rich? It's hard to hang up on callers especially when they sound so polite.

The second publication came from the National Consumers League in Washington, D.C. The flyer was entitled: "Elderly Targets of Fraud."

We Need To Know:

• as much as $40 billion per year is lost to fraudulent telemarketers
• you can't tell by the tone of someone's voice if the caller is legitimate
• reporting suspected telemarketing crime is essential to stop it
• tell the caller you want to check it out and ask for a number to call back. If the caller refuses to give the number, THAT IS A RED FLAG!!!
  

Locally

• In Lincoln to report suspected fraudulent activity call 471-2682
• to receive a form to remove your name from national telemarketer lists call me at 441-7070
  

Warning Signs that an elderly person may be a target of fraud:

• receiving lots of junk mail
• getting frequent calls
• making repeated and/or large payments to out-of-state businesses
• having payments picked up by private courier services
• receiving lots of cheap items such as costume jewelry, small appliances, pens (often purchased in order to win supposedly valuable prizes, or these were the prizes)
• getting calls from organizations offering to recover money that they have paid to telemarketers - for a fee
  

Tips that the call is fraudulent:

• the caller tells the older person they have won a prize, then asks for payment for something
• the person called must act immediately or miss the opportunity
• the claim is that huge profits can be made in an investment with no risk
• a donation is requested with little explanation as to exactly how the money will be used
• the caller insists payment should be sent by a private courier or wire money
• the company is asking for cash. In most cases the caller wants to be hard to trace
• social security number is requested
• credit card number, bank account number, or financial information is requested even though a purchase is not being made using those accounts
• the company offers to get you a loan, credit, or credit card, or repair your bad credit if you pay an up-front fee
• the promise is to get back money the older person has lost to another fraudulent scheme if they pay an up front fee
• legitimate marketers are willing to send written information about the products or services they're selling
  

Giving money to a fraudulent telemarketer usually means losing it forever. Don't let a criminal break into your home through your telephone line!