Scams to avoid
Senior citizens are common targets for con artists. In fact, according to some estimates in the U.S., one-third of all victims of fraud schemes nationwide are seniors, despite the fact that they make up about only one-eighth of the population.
Seniors fall prey in large numbers to scams involving high-pressure tactics, advanced loan fees, home improvements, auto repairs and work-at-home schemes.
Here are a few quick tips you should observe to avoid being taken by any of these fraudulent schemes:
- Get a contract. Do not hire a tradesperson to work on your house or yard without a contract stipulating the terms of work and verifying the person’s contact details;
- Ask for identification from any delivery or service provider who comes to your house and do not leave a service person alone in your home;
- Do not give cash to a tradesperson before the project is underway- and even then pay in installments as the work is completed. Do not carry large amounts of cash anywhere;
- Look out for get-rich-quick schemes, "free" offers, or "you have won" solicitations. Remember, if it sounds too good to be true, it probably is;
- Wait 24 hours before making a purchase; there is no need to rush. An offer from a reputable source will remain available from one day to the next. Ask for written information about the business, goods or services to review. If they refuse to leave or make you feel threatened, call the police;
- Get a second opinion; consult with someone you trust before making important financial decisions. The representatives of Age Concern are a good resource to consider for this. See their contact information below;
- Never reveal your "vital numbers" such as credit cards phone cards, date of birth and social insurance numbers or your personal identification numbers (PIN) for automated teller machine (ATM) transactions to verify a contest prize, low-cost vacation or other prize offer;
- Be wary of street peddlers selling products directed at seniors such as herbal products and remedies. Oftentimes these products are unsafe if you have certain health problems or are taking prescription medicine;
- If considering giving to a charity, ask for the charity’s registration number and call the Centre on Philanthropy (292-5320) for a list of registered charities.
If you think you have been victimized by a fraud scheme or you know of a con game that is targeting your friends or neighbors, call the police immediately.