#280 BBB 09-30-10 147
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8/8/2019 #280 BBB 09-30-10 147 http://slidepdf.com/reader/full/280-bbb-09-30-10-147 1/1 MAGNOLIA CLIPPING SERVICE (601) 856·0911 I (205) 758.8610 STONE CO ENTERPRISE WIGGINS, MS Circulation =2881 WEEKLY 09/15/2010 11111111111111 11111 / I If" 1111 / 111111/ Beware of • common senior scams (SPM geting senior citizens is a grol,"ing concern, as mil lions have fallcn victim nationwide. ThcB(;l.tter Business Bureau (BBB) is encouraging famTIies to recognize and avoid some common cons targeting seniors. Roughly 20 p e n ~ e n t of Americans aged 65 or older already have been taken advantage of financially by inappropriate investment opportunities, unrcason ably high fccs for financial services or outright fraud, according to a recent sur vey by Investor Protection Trust. Some coinmon senior scams include: * Sweepstakes and Lottery Scams: Victims usually receive letters stat ing they have won a lottery or sweepstakes; sometimes claiming to be from Publisher's Clearing House or Reader's Digest. The let ters tell victims to deposit an enclosed check and wire a portion back to the com pany to cover taxes or administration fees. The funds initially appear in the bank account, but are removed when the bank determines the check is fake. '" Medicare Scams: Scammers claim to be with Medicare and ask for per sonal information such as Medicare, Medicaid, social security, credit card or bank account numbers. Seniors should know Medicare will never call to ask for sensitive personal financial information. * Bereavement Scams: Scamnlers call v.idows or widowers and claim their spouses had outstanding debts that need to be paid immediately. If you arc uncertain about owing a debt when collectors call, ask for written confirma tion. * Investment and Work at Home Opportunities: Promises of easy money often target older adults because they may be look ing to supplement their incomes. The pitch might come in the form of an investment opportunity that promises big returns, or as a way to make money at home for an upfront cost. The victim is offered what sounds like a great opportunity but the extra income never materializes. Always research any work at home opportunity with the BBB. Beware of invest ment or money-making offers that seem too good to be true or use high pres sure sales tactics to get you to sign up immediately. For more advice on avoiding scams and fraud visit bbb.org/us/con sumer-tips-scams. "Having a serious conver sation with your elderly parents about how they arc managing their money is not easy, but it is extremely important in order to help protect them from unscrupulous crooks," said Alison Southwick, BBB spokesperson. "It's extremely important to keep the lines of communi cation open so that you can identify suspicious spend ing habits, as well as edu cate your elder family members on recognizing the red flags of common' cons."
Transcript of #280 BBB 09-30-10 147
8/8/2019 #280 BBB 09-30-10 147
http://slidepdf.com/reader/full/280-bbb-09-30-10-147 1/1
MAGNOLIACLIPPING SERVICE(601) 856·0911 I (205) 758.8610
STONE CO ENTERPRISE
WIGGINS, MS
Circulation =2881
WEEKLY
09/15/2010
11111111111111 11111 /IIf" 1111 /111111/
Beware of•
common senior
scams(SPM
geting senior citizens is a
grol,"ing concern, as mil
lions have fallcn victim
nationwide. ThcB(;l.tterBusiness Bureau (BBB) is
encouraging famTIies to
recognize and avoid some
common cons targetingseniors.
Roughly 20 p e n ~ e n t ofAmericans aged 65 or older
already have been taken
advantage of financially by
inappropriate investmentopportunities, unrcason
ably high fccs for financialservices or outright fraud,
according to a recent survey by Investor Protection
Trust.
Some coinmon senior
scams include:* Sweepstakes and
Lottery Scams: Victims
usually receive letters stating they have won a lottery
or sweepstakes; sometimes
claiming to be from
Publisher's Clearing Houseor Reader's Digest. The let
ters tell victims to deposit
an enclosed check and wire
a portion back to the com
pany to cover taxes or
administration fees. Thefunds initially appear in
the bank account, but areremoved when the bank
determines the check is
fake.
'"
Medicare Scams:Scammers claim to be withMedicare and ask for per
sonal information such as
Medicare, Medicaid, socialsecurity, credit card or
bank account numbers.
Seniors should knowMedicare will never call to
ask for sensitive personalfinancial information.
* Bereavement Scams:Scamnlers call v.idows or
widowers and claim theirspouses had outstanding
debts that need to be paid
immediately. I f you arc
uncertain about owing adebt when collectors call,
ask for written confirma
tion.* Investment and Work at
Home Opportunities:Promises of easy money
often target older adults
because they may be looking to supplement their
incomes. The pitch might
come in the form of aninvestment opportunity
that promises big returns,
or as a way to make moneyat home for an upfrontcost. The victim is offered
what sounds like a great
opportunity but the extra
income never materializes.
Always research any workat home opportunity with
the BBB. Beware of investment or money-making
offers that seem too good
to be true or use high pressure sales tactics to get you
to sign up immediately.For more advice on
avoiding scams and fraud
visit bbb.org/us/consumer-tips-scams.
"Having a serious conver
sation with your elderlyparents about how they arcmanaging their money is
not easy, but it is extremely
important in order to helpprotect them from
unscrupulous crooks," saidAlison Southwick, BBB
spokesperson. "It'sextremely important to
keep the lines of communi
cation open so that you can
identify suspicious spend
ing habits, as well as educate your elder family
members on recognizingthe red flags of common'
cons."
