Today, there are financial scams of all different types targeted to certain groups of people. One of the highly targeted groups is the senior community. This is because they are often thought to have large amounts of money in their accounts. However, financial scams can affect people of all kinds. Unfortunately, many financial scams are not reported and in a lot of cases the perpetrators are family members. If you have a loved one or work with individuals in the senior community this is a focus on ways to avoid money scams. First, it is important to be educated on what types of financial scams are out there. These can include fraud from insurance companies, counterfeit prescription drugs, funeral/cemetery scams, telemarketing and internet scams, investments, and homeowner or mortgage scams. Here is a short list of some ways you can avoid money scams.
- Know your insurance plan and ask for records of all services and supplies.
- Don’t give out Medicare numbers and read your bills.
- Don’t buy products on the phone or internet from unknown companies.
- Read all contracts and agreements about your home before signing.
- Ask for the salesperson’s information including name, business, phone number, address, etc.
- Never sign any blank forms.
- Ask to be mailed written material before agreeing to something new.
Don’t be afraid to ask for help when it comes to financial scams. If you are unsure about something, don’t jump into it without getting a second opinion. There are many hotlines and supports available in the resources below. Help spread this information and educate those around you about money scams today!