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Senior Fraud Prevention

Seniors can make easy targets for fraud, whether it's for unbelievable investment returns or fraudulent sweepstakes prizes. Fraud on seniors can happen by phone, mail, in person, or, less commonly, the Internet (because seniors are online in smaller numbers). It can happen to wealthy seniors, and those of limited means. According to the Federal Trade Commission, studies show con artists are more likely to target senior citizens than other age groups because they believe seniors are more susceptible to such scams. The FTC reports that fraudulent telemarketers direct from 56 to 80 percent of their calls at seniors. The need for senior fraud prevention has become greater than ever.

"Seniors are available because they tend to be retired, they're home, they answer their phones and read their mail. So, some of the offers that come in aren't necessarily more attractive to seniors, but they have the time to read it," Jim Wright, managing director of programs at the National Crime Prevention Council, explains.

This article continues at senior fraud prevention.

• Look for stacks of unsolicited mail proclaiming the recipient to be "a guaranteed winner" or offering lottery tickets for sale.
• Watch for an unusual number of packages on hand containing inexpensive costume jewelry, plastic cameras, or wristwatches.
• Note if they are receiving unsolicited telephone calls from fast-talking operators offering "fantastic" opportunities to claim prizes or make sure-fire investments. If so, you can arrange for an unlisted phone number.
• Volunteer to help balance their checkbooks, and ask about any questionable checks or sudden, large withdrawals. Offer to go over credit card statements to ensure that only authorized purchases are listed.
• Offer to pick up their mail to see if they are receiving unsolicited sweepstakes or lottery offers. If so, they may be on a variety of "sucker lists" being circulated by con artists. Have a trusted family friend help check the mail daily.
• Talk to them about evaluating offers they receive in the mail or on the phone from someone they don't know. Suggest that they talk over such offers with someone before accepting them.
  
  If you suspect fraud, contact the Postal Inspection Service.