Tip-Offs To Phone Elderly Fraud

ftc.gov, Jun 07, 2006

Consumers lose more than $40 billion a year to telemarketing fraud. People over 50 years of age are especially vulnerable and account for about 56 percent of all victims, according to a recent study by the American Association of Retired Persons. Scam artists often target older people, knowing they tend to be trusting and polite toward strangers and are likely to be home and have time to talk with callers.

Tip-Offs to Phone Fraud

Many scams involve bogus prize offers, phony travel packages, get-rich-quick investments and fake charities. Con artists are skilled liars who spend a lot of time polishing their sales pitches. As a result, it can be difficult to see through their scams.

Alert those you care about to be on their guard if they hear the buzz words for fraud. Among the tip-offs are: