Recognize the warning signs of financial exploitation or fraud:
Signs to watch out for:
- Unusual bank account activity like large, unexplained withdrawals, frequent transfers between accounts, or placing of additional names on accounts
- Recent new acquaintances, particularly those who take up residence or move to isolate a senior from family and long-time friends
- An unexplained change for the worse in the senior’s circumstances
- Unnecessary and unusually costly home repairs or services
- Unusual charges on credit cards
- Large amounts of junk mail or increasing number of telemarketing calls
- Frequent checks written to cash, charities, or telemarketing promotions
How to protect yourself:
- Do not give your personal or financial information to callers or e-mailers who contact you.
- Have checks deposited directly to your bank or credit union to reduce the risk of checks being stolen, misplaced, or destroyed.
- Immediately review your bank and credit card statements and report any disputed items.
- Get a free credit report from one of the three credit bureaus.
Scam Alert:
Seniors around the commonwealth are getting cold calls offering free federal grants
- The elder calls a toll-free number (888-558-8881) and an operator explains the process and then asks for the caller's telephone number.
- The elder is then called back by someone who will then obtain the elder's credit card number. The one-time charge is $340 or maybe more or maybe less. But once they have your credit card number
- The promise is that elders will receive assistance in applying for "free" federal grants from a variety of sources.
The basic scams are outlined at http://www.scammer-alert.com/govt-grants.html
Our colleagues at Greater Lynn Senior Services are reporting that individuals have been falsely claiming to be agency employees to try to get personal information from clients and other older adults. We are reminding our clients to always be cautious regarding the disclosure of personal information to persons that they do not know personally. If they have any doubt, they be encouraged to talk with their case manager at North Shore Elder Services.
Read the entire story from the Swampscott reporter here:
http://www.townonline.com/swampscott/homepage/x1136424875
Opportunities to work at home can be very tempting, especially when they promise large financial returns. Remember, if it sounds too good to be true, it probably is. Work at home scams are a common way to gain access to your personal and banking information.
Learn more about work at home scams
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Protect Yourself
- If it sounds too good to be true, it probably is.
- Give to charities only through a trusted source, contact or visit the office.
- Never sign contracts that have blank lines in them; someone may later add clauses that could harm you or your assets.
- Walk away from high-pressure sales tactics.
- Ask questions about where your money is going and how it will be used.
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