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WCG - Elder Fraud 2 12-15-06

WCG - Elder Fraud 2 12-15-06

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Published by Bill Taylor
Elder Fraud (Part 2)
Elder Fraud (Part 2)

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Published by: Bill Taylor on Dec 19, 2009
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05/11/2014

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COLUMNWESTON COUNTY GAZETTEBILL TAYLOR 12/15/06
PROTECTING SENIORS FROM FRAUD (Part 2)Last time we talked about the large number of serious frauds of senior citizens in our country – for a number of reasons. And we discussed various things you should watch for in order to protect elder members of your family from such attacks.Remember that seniors make up approximately 30 percent of those defrauded in the country andmay number as many as 5 million persons per year.You should be familiar with the schemes that your parents or other seniors might encounter, solet’s examine some of those. Today we will try to cover about a third of the scams and thencontinue next time.
Fictitious relative:
The senior receives a phone call purporting to be a relative in trouble. If grandma, grandpa, or auntie will just send a few thousand dollars the caller can pay bond, pay off a debt, or save their house.
Advance fee (419) fraud or Nigerian letters:
E-mails that ask recipients to provide their bank account number to help them share in a big pot of money.
Financial institution employee fraud:
An employee at a financial institution (bank, creditagency) steals your information – or someone identifies themselves as being from your bank andneeds your personal information.
International lottery fraud:
You’re told that you’ve won a sweepstakes or the Canadian lottery.You’re asked to pay for processing, taxes or delivery, or provide a bank account number toverify your identity
.
Phishing:
A term is used for emails that claim to be from your bank, a reputable business or agovernment agency. Criminals ask for personal information such as Social Security numbers or account numbers to steal funds and/or steal identities
Sweepstakes and Lotteries:
You’re told that you’ve won a sweepstakes or the Canadian lottery.You’re asked to pay for processing, taxes or delivery, or provide a bank account number toverify your identity
Travel Scams:
Before buying travel packages get the offer in writing; check the following to seeif the company is legitimate: the Better Business Bureau; state attorney general’s office; your 

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