Watch out for scamsters set on stealing your money
March 14, 2008
Con artists bilk Americans out of billions of dollars every year.
One of their ripest targets? Older baby boomers.
Scamsters prey on the financial fears of mature adults, gain their trust, and then steal their savings.
Regulators report scams are on the increase as more baby boomers move into retirement.
The 79 million baby boomers have more than $8.5 trillion in investable assets, according to an article in USA Today.
Here are some classic pitch lines and scenarios by consumeraffairs.com.
- Anything sold from a car trunk or van in a parking lot.
- Earn big money stuffing envelopes.
- Free golf clubs.
- Correspondence from your bank’s “fraud department.”
- You’ve just won $2.5 million on the Australian Sweepstakes.
- Free money! Act now!
- Find out anything about anybody.
- "This is U.S. Customs. You need to pay the duty on your Publishers Clearinghouse winnings.”
- “Bad credit? No problem. For a small fee, we’ll find you a lender.”
- Call 809-xxx-xxxx now for important information about a valuable prize.
- Get a non-secured credit card with a $2,500 limit.
- “We’re checking your husband’s credit card.”
Resources to help boomers avoid fraud:
- An AARP Web page lists scam prevention resources.
- The Federal Trade Commission’s OnGuardOnline.gov covers scams, shopping, viruses, spam, and spyware.
- The National Consumers League’s Internet Fraud Watch offers articles on how to avoid fraud.
- The North American Securities Administrators Association’s Fraud Center provides resources to help investors protect their savings.
Tomorrow's post will be on identity theft.
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