Financial & Legal Services
advantage of the grieving widow or widower. Claiming the deceased had an outstanding debt with them, scammers y from relatives to settle the f to settle the fake
advantage of the grieving widow or widower. Claiming the deceased had an outstanding debt with them, scammers will try to extort moneiw ll try to extort money from relativ debts.
debts. Another tactic of disreputable funeral homes is to capitalize on family members’ unfamiliarity with the
capitalize on family members’ unfamiliarity with the considerable cost of funeral services to add unnecessary
considerable cost of funeral services to add unnecessary charges to the bill. In one common scam of this type,
charges to the bill. In one common scam of this type, funeral directors will insist that a casket, usually one of
accomplished with a cardboard casket rather than an expensive display or burial casket.
expensive display or burial casket. 4.
funeral directors will insist that a casket, usually one of the most expensive parts of funeral services, is necessary en when performing a direct cremation, which can be
the most expensive parts of funeral services, is necessary even when performing a direct cremation, which can be accomplished with a cardboard casket rather than an
4. Fraudulent Anti-Aging Products In a society bombarded with imageIn a society bombarded with images of the young
Fraudulent Anti-Aging Products s of the young
and beautiful, it’s not surprising that some older people eel the need to conceal their age in order to participate
and beautiful, it’s not surprising that some older people feel the need to conceal their age in order to participate more fully in social circles and the workplace. After all,
more fully in social circles and the workplace. After all, 60 is the new 40, right?
Botox, lik, e the one in Arizona that i
60 is the new 40, right? It is in this spirit that many older Americans s It is in this spirit that many older Americans seek
out new treatments and medications to maintain a youthful appearance, putting them at risk of scammers. Whether it’s f i
out new treatments and medications to maintain a youthful appearance, putting them at risk of scammers. Whether t’s fake Botox like the one n Arizona that netted its distributors (who were convicted and jailed in 2006) $1.5 million in barely a year, or completely bogus homeopathic remedies that do absolutely nothing, there is money in the anti-aging business.
Botox scams are particularly unsettling, as
renegade labs creating versions of the real thing may still be working with the root ingredient, botulism neurotoxin, which is one of the most toxic substances known to science. A bad batch can have health consequences far beyond wrinkles or drooping neck muscles.
5. Telemarketing/Phone Scams Perhaps the most common scheme is when
scammers use fake telemarketing calls to prey on older people, who as a group, make twice as many purchases over the phone than the national average. While the image of the lonely senior citizen with nobody to talk to may have something to do with this, it is far more likely that older people are more familiar with shopping over the phone, and therefore, might not be fully aware of the risk. With no face-to-face interaction, and no paper trail, these scams are incredibly hard to trace. Also, once a successful deal has been made, the buyer’s name is then shared with similar schemers looking for easy targets, sometimes
eek Another tactic of disreputable funeral homes is to
Financial & Legal Services
defrauding the same person repeatedly. Examples of telemarketing fraud include: The Pigeon Drop
The con artist tells the individual that he/she has
found a large sum of money and is willing to split it if the person will make a “good faith” payment by withdrawing funds from his/her bank account. Often, a second con artist is involved, posing as a lawyer, banker, or some other trustworthy stranger.
The Fake Accident Ploy The con artist gets the victim to wire or send
money on the pretext that the person’s child or another relative is in the hospital and needs the money.
Charity Scams
Money is solicited for fake charities. This often occurs after natural disasters. 6. Internet Fraud
While using the Internet is a great skill at
any age, the slower speed of adoption among some older people makes them easier targets for automated Internet scams that are ubiquitous on the web and email programs. Pop-up browser windows simulating virus-scanning software will fool victims into either downloading a fake anti-virus program (at a substantial cost) or an actual virus that will open up whatever information is on the user’s computer to scammers. Their unfamiliarity with the less visible aspects of browsing the web (fi rewalls and built-in virus protection, for example) make seniors especially susceptible to such traps. One example includes:
Email/Phishing Scams A senior receives email messages that appear
to be from a legitimate company or institution, asking them to “update” or “verify” their personal information. A senior receives emails that appear to be from the IRS about a tax refund.
7. Investment Schemes Because many seniors fi nd themselves
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www.westalabamaaging.org
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