The Scenario
How do you protect yourself from all of the scams out there?
Sam Savings Sam

Savings Sam
"I check my credit monthly through CreditKarma.com, it's a free way to monitor your credit history. I am also uneasy about making purchases online or over the phone."
Bonnie Balanced Bonnie

Balanced Bonnie
"I make sure my credit cards have some sort of protection plan in place in case any of my information gets stolen."
Ian Impulsive Ian

Impulsive Ian
"I don't like being unecessarily worried about things that probably won't happen."

 

Part I

In the Information Age, there are many ways to fall victim to fraud and/or financial scams. It is never a good idea to give out personal information on the phone or by mail to an organization you do not know. Some older adults have their adult children managing their finances, however, it is a good idea to keep yourself informed of the status of all accounts bearing your name. To avoid a compromising situation, stay involved with whomever is assisting you with finances, even if it is a family member, an accountant, or lawyer.

Scam

Senior Citizens especially should be aware of fraud schemes for the following reasons:

CT Attorney GeneralThe CT Office of the Attorney General has done lots of work to protect Connecticut's older citizens. Their Senior Issues web page is a collection of resources that addresses fraud, elder abuse and consumer protection. (800) 808-5318

Other Types of Fraud to be Aware Of
Telemarketing Fraud - calls requesting donations even if a free gift is offered in exchange.
Internet Fraud and/or Identity Theft - computer experts that steal information from an unprotected computer in your home.
Mail Donation Request/Sweepstakes - charities and contests that are legitimate and are taking advantage of unsuspecting people.
Investment Fraud - false and misleading information coming from financial representatives, enticing potential investors often results in financial losses.

SOURCE: US Federal Bureau of Investigation

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