If It Sounds Too Good, It Probably Isn’t (Good)!

Unfortunately, seniors are at high risk for certain scams. In fact, 1 in 4 seniors report being victims of scams (statistics-Texas Attorney General’s office). However, the real numbers may be even worse as many of these scams go unreported. Seniors are afraid they will lose their freedom and independence, and along with this, lose their self-respect and self-esteem. Most unfortunate is that seniors are cheated out of their hard-earned savings which is very difficult, if not impossible, to recover the lost money. These scams take every imaginable form, and the con artists’ stories are very persuasive and reasonable-sounding.

Here is a list of 5 warning signs that should make you think before you respond:

• · Unsolicited mail or phone call(s).

• · A promise that you will receive a large sum of money.

• · Any efforts to obtain personal financial information.

• · You have to pay money BEFORE you receive money, goods or service.

• · You are asked to wire money instead of using the US Mail.

Senior Alert from Texas Attorney General

Scams take all forms: check, purse, and identity theft; home repair, foreign lottery, sweepstake, healthcare, home repair (typically from unlicensed contractors), ”mystery shopper,” investment frauds; seasonal-type schemes like collecting for all types of children’s charities and environmental disasters; and all types of advertisements: direct mail, magazines, ads, newspapers.

Remember, under any circumstances never provide an unknown caller your bank account, credit card, PIN or social security number!

In addition, consider using some of these measures in order to avoid one of these scams:

• · Shred all papers with personal numbers before putting in trash.

• · Never keep all credit cards in same wallet or purse.

• · Don’t regularly carry your Social Security card or put the number on your checks.

• · Make photocopies of both sides of credit cards and keep them in a safe place in case they are misplaced.

• · Secure personal information in your home, especially if having service work done in home.

Consumer Alert from Texas Attorney General