Senior citizens are among the most vulnerable people to fall victim to scams.
Anna Smith, of the Tennessee Division of Consumer Affairs under the Consumer Protection Division of the Tennessee State Attorney General’s Office was at the Morristown Senior Center recently to discuss what seniors should look for in whether something is legitimate or a scam.
• They are viewed as having significant assets or home equity
• They may be isolated and therefore susceptible to persuasion
• They may suffer from cognitive decline
• They may have health problems
• These factors can leave older adults more open to fraud or deception by individuals who appear to have power over them.
• Emotion: compassion/sympathy, desire for affinity/belonging, fear
• Personalize their offers or means of coercion
• Start making small requests to draw the victim in and gain their trust
• Make the offer appear to be from a legitimate organization or individual
• Exchange lists that provide victims’ names to other scammers.
What are the signs of a scam?
• They contact you first and/or their contact is persistent
• They offer something that seems too good to be true
• They want your personal or financial information
• They demand an upfront fee for a prize, job, debt relief or so forth
• One must have to wire money or send gift cards in exchange for services or…
