Tips and red flags for avoiding elder fraud.
Three common types of financial scamsCon artists will often try to appeal to a victim’s emotions with an offer that sounds too good to be true, or with an aggressive or threatening tone if the victim doesn’t comply with their request to provide personal information. Almost always, there is a sense of urgency to “act now.” Below are three of the most common ways a scammer might try to contact you.
1. Email:A phishing email is designed to look like it’s from a well-known source, such as your credit card company or mortgage provider. The sender usually asks you to click on a malicious link to verify personal information, which the scammer then uses to access your account or open new accounts. To avoid becoming a victim, never open attachments or click on links in emails unless you’re certain of the sender.
2. Phone:Popular phone scams involve callers claiming to be with the IRS and insisting that you owe money, a company stating that your computer has a virus, or even a caller informing you that you’ve won a major prize in a sweepstakes.
3. Door-to-door:Home improvement contractors coming to your door to offer free quotes for home repair services, as well as people requesting charity donations in person, are often legitimate sales tactics. But this is also a popular scam approach.
Stay alert: Tips to protect your personal information and prevent fraudOne of the most important ways to avoid becoming a victim of fraud is to become an informed consumer. Before considering a purchase or donating to a charity, it’s a good idea to research the company’s background, verify that they’re in good standing with the Better Business Bureau, and share your findings with friends and family.
In addition, follow these tips to protect your financial information:
- Be skeptical of any unsolicited offers
- Never agree to send money to claim a free prize
- Be wary of any request to wire money
- Regularly review receipts and bills, and check your credit report
- Monitor your monthly bank and credit card statements regularly
- Ensure that the security software on your computer and mobile phone is up-to-date