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Facts about defrauding the elderly
The FBI says that tarketing elders is one of the cornerstones
of illegal telemarketing in the US.The FTC (Federal Trade
Commision) that 80% of some telemarketing scam victims were
65 or older.‡ According to AARP, 42% of the seniors they
had surveyed received 20+ calls during the previous six months
from somebody who was trying to sell them something, interest
them in a contest or sweepstakes, or urging them to contribute
to a charity. Women were more likely than men to be scammed
by home repair schemes, while men were targeted by investment
and securities frauds.* Other types of phone scams
include the offer of prizes, travel packages, health products,
and recovery scams.†
Why seniors are a susceptible target for fraud
The Michigan State Police report that the elderly are
more likely to be targed because they are more trusting, are
more polite to strangers, have a difficult time determining
if a sales call is legitimate, may be lonely when the telemarketer
calls, are offered free prizes and gifts, and because the
telemarketers seem to have all the answers.†
Canada's National Advisory Council on Aging suggests that
vulnerability, rather than age, is what makes seniors more
susceptable to fraud. Because many seniors live on a fixed
or limited income, the prospects of a "good deal"
is tempting. Seniors are the most generous age group, making
the largest average donations to charity. Because many seniors
live alone, they do not have someone else to ask for a sober
second opinion before making a bad decision. Seniors may not
even be aware of the fact that telemarketing scams are a fraud
that should be reported to authorities as criminal activities.
What's worse, seniors can readily access their cash because
they are home during banking hours, making them most attractive
as potential victims of fraud.†
Seniors are especially vulnerable to health-related scams.
Their concerns about aging, memory loss, and other chronic
health conditions and serious illnesses can result in a desperation
and willingness to pay whatever it takes to relieve their
conditions.‡
Unfortunately, unscrupulous caregivers are in a position to
exploit seniors who are confused, sick, or out of touch with
reality. A relative or "helpful" neighbor who offers
assistance with running errands or writing checks can, over
time, learn intimate details about the elder's finances and
twist that knowledge to their own advantage.‡
Tips for avoiding telemarketing fraud from the Michigan
State Police†
• Remember the caller is NOT your friend
• The caller only wants your money
• Don't be pushed into a decision
• Your best protection is to HANG UP
• Do not give out personal information such as credit
card, Social Security, or bank account numbers unless you
initiated the call.
Federal telemarketing sales rules
Telemarketers must tell you:
• The name of their company
• The fact it is a sales call
• What is being sold
• You cannot be asked to pay anything for a prize
• You cannot be asked to pay anything in advance for
services
• If you tell them not to call again, they can't†
Ten additional tips for fighting fraud, from Age Without
Rage‡, include:
1. Jealously guard your Social Security number. Request
an alternate number rather than allow an entity such as a
hospital to use it as a client identification number.
2. Get a second opinion about your diagnose if the illness
is serious. Beware of any promises of "miracle cures"
from unlicensed and/or unknown practitioners or companies.
3. Before making any large financial investment first
discuss it with your accountant, attorney, and/or financial
advisor.
4. Have a civil and criminal background check performed
by a reputable information service before hiring a caregiver
5. Question anything that looks out of the ordinary
or suspicious on bank statements, credit card bills, or medical
bills.
6. Check to confirm any outside vendor's reputation
with the Better Business Bureau and with your state contractors'
board for home repairs.
7. Never pay money in order to receive a prize you have
won.
8. Use a shredder to destroy all important papers before
putting them in the garbage.
9. Use common sense and trust your gut instincts. Something
that sounds too good to be true probably is a scam.
10. Call the Seniors Fraud Unit of your local police if you
suspect fraud of any kind.
Sources:
*The National Advisory Council on Aging
http://www.naca-ccnta.ca/expression/14-2/exp14-2_3_e.htm#why
†The Michigan State
Police
http://www.michigan.gov/som/0,1607,7-192-29941_30590-10267--,00.html
†Age Without
Rage, by Chuck Whitlow and Bill Reed, pp. 209-256
http://www.tsacascade.org/usw/www_usw_cascade.nsf/0/2208b8ab9495a93e80256f09007ad64a?OpenDocument
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