Let’s talk about something that’s super important, especially for our senior friends. We all need to be vigilant about financial scams, which are becoming more sophisticated with advances in technology. Recently, Assemblymember Brian Maienschein hosted a free seminar at the Ed Brown Center for Active Adults in Rancho Bernardo to help seniors learn how to protect themselves. Here’s what you need to know!
The Growing Problem of Elder Fraud
Did you know that more than one in five seniors fall victim to fraud at some point in their lives? And the losses can be huge. For example, the median loss for those over 70 from online romance scams is over $9,000!
Common Scams Targeting Seniors
- Tech Support or Home Repair Scams: Fraudsters pose as tech support or repair professionals to trick you into paying for fake services or giving them access to your personal information.
- Annuities Scams: These scams involve pushing seniors to sign new annuity contracts early, which can result in hefty financial penalties.
- Telemarketing Scams: Fraudulent telemarketers often target seniors, with 80% of their calls directed at people over 60.
- Imposter Scams: Scammers pretend to be from well-known agencies like the IRS, Medicare, or even your bank, to steal your personal information or money.
- Investment Scams: These are the costliest type of elder fraud, with seniors losing over $1.2 billion in 2023 alone.
- Lottery and Sweepstakes Scams: Scammers tell you that you’ve won a prize but need to pay a fee to claim it. Remember, legitimate sweepstakes never ask for money upfront.
Key Tips to Protect Yourself
- Verify the Caller: Always verify the identity of someone who calls you, especially if they’re asking for personal information or money. Use a trusted source like your bank statement or the back of your credit card to find the correct contact number.
- Don’t Act Quickly: Scammers create a sense of urgency. Take your time to think and verify before making any decisions.
- Be Skeptical of Free Offers: Offers of free meals or prizes can be a ploy to get you to attend a high-pressure sales pitch or share your personal information.
- Avoid Unsolicited Calls and Emails: Don’t respond to random texts, calls, or emails asking for your information. Scammers often try to gain your trust over time.
- Don’t Share Personal Information: Government agencies will not call you out of the blue asking for your information. If in doubt, hang up and call the agency back using a verified number.
- Report Scams: If you suspect you’ve been targeted by a scam, report it to the local FBI field office or the Internet Crime Complaint Center at ic3.gov.
Special Event: Fraud & Scam Summit
Join us for the TARCOG Fraud & Scam Summit to learn more about how to protect yourself. The event will cover topics like cyber security, financial scams, consumer fraud, and legal implications.
- Date: Thursday, August 8
- Time: 10 a.m. - 1 p.m.
- Location: Bob Harrison Wellness and Advocacy Center, 6156 Pulaski Pike, Huntsville
- Registration: Starts at 9 a.m. Call 256-830-0818 to register (limited to 150 seats).
Final Thoughts
Scams are a real threat, but by staying informed and cautious, you can protect yourself and your loved ones. Knowledge is power, and together we can outsmart these fraudsters.
Stay safe, Scamstallers! To read more, find original article here