Senior Fraud Prevention
Many people have fallen victim to fraud. Unfortunately, a lot of these people are seniors not because they are old but because they are retired and are home to answer the phone when the fraudulent telemarketers call or time to read the many ads that come through a house.
Fraudulent telemarketers use either one of the 5 techniques listed or a combination.
Scarcity. The senior is the only winner of the "prize" and if they don't accept the "prize" it goes to the runner up.
Hype. The telemarketer is so excited that the senior has a won a prize.
Authority. The telemarketer will pass the phone to a higher position to intimidate or threaten that the police will be contacted if they do not go along with what the telemarketer is wanting.
Phantom Fixation. This prize is too good to pass up and will not be available again. This makes the senior fixated on the prize.
Reciprocity. The telemarketer tells the senior that she will not receive her commission if the senior doesn't comply. This starts a guilt trip so the senior says they do not have enough money to pay the handling fee so the telemarketer asks what they can afford.
There are many ways to deal with these scammers. The most important thing to remember is that unless you have called the company yourself, do not give out any personal information or know the company.
Also, if there is a "handling fee" that the telemarketer is saying that needs to be paid, it is more often than not a scam.
Be suspicious of anyone who is not letting you talk over the "prize" with others. They might get defensive and say once you hang up the phone, the prize is considered null and void. Any legitimate place that is offering a prize, will give you time to think it over and to make arrangements.
Make sure that you are clear and concise that you are saying no to these telemarketers. If you do not want to deal with the telemarketers, start screening your calls or hang up the phone. There is also a National Do Not Call List that you can put your number on. Telemarketers do have to take your name off the list if you request, if they do not, they would be breaking the law.
Hopefully these tips and tricks keep you and your investments safe!