Easy Targets for “Helpful” Criminals

Last year, as much as $40 billion dollars was lost to fraudulent telemarketers. What’s just as amazing, according to the Attorney General of Minnesota, is that 60% of all the callers to the National Fraud Information Center describe themselves as senior citizens. Why are the elderly such frequent victims of scams?

“Seniors have always been an easy target for fraud and abuse. They’re an under-represented, under-protected and vulnerable segment of our society”, says Jeff Rusk, an Austin (TX) elder law attorney. In recent years, seniors also have rising incomes and greater disposable cash. This combination makes them very attractive targets for white collar criminals. Adding to their vulnerability to “helpful” crimes, seniors have a hard time recognizing if a caller is legitimate and honest. It seems to be their nature to really want to trust the person who is calling them.

To help prevent seniors from voluntarily handing over their savings to these heartless, “helpful” criminals, we list below some hints on how to spot a fraud.

• They state you have the ability to make huge profits in an investment with no risk.
• They claim you can make huge profits through a franchise or other business opportunity with little or no effort.
• They require you to send them money IMMEDIATELY!
• They pressure you to act without enough time to look into the deal or opportunity.
• When stating you have won a sweepstakes, they ask you for payment of processing or administrative fees, customs charges, taxes, etc.
• They are unwilling to send written info about the product they are selling.
• They ask for a donation, but will not tell you exactly how the money will be used.
• They ask to verify your identity for a prize or product by checking your credit card number.
• They insist that you send your payment by a private courier or wire them money.