I can share plenty of war stories, as I’ve had a number of clients come to me after being scammed. It’s always painful plus it’s hard to recover losses. And unfortunately, it’s only getting worse.
The FBI tells us that scams targeting older adults are up 82.35% percent in just one year. It’s not as simple as you might think to protect yourself from it. These scammers are sophisticated and getting better at stealing from you all the time.
Perhaps you have already experienced it or become a victim of such scams. We are going to talk about the top scams out there right now in the first part of our episode, and then stick with me because in the second half of the show we’re going to put some resources in your hands so that you can protect yourself, or your aging parents AND I am also going to share how you might be able to stop all those phone calls and junk mail all together. AND stay until the end because I will also share how you can get those resources in your hand. You know I love putting those resources in your hand. It’s all about empowerment.
This is a VERY sensitive topic for me as an elder law attorney. I have seen numerous seniors victimized by these types of scams. Why not? These scammers understand the fishing hole – the graying of us baby boomers represents the largest transfer of wealth in U.S. history. You’ve worked hard and saved money. Guess what? These guys know it and they want it!
So this is part two in our first episode on scams. You can listen to part one here. I’m sure this is a topic we will be revisiting as constant awareness of this is key.
Did you know first that telephone solicitors know that they should NOT be calling you. Put yourself on the Do NOT Call Registry and that will help to give them no excuse to call you again. These telephone solicitors are supposed to follow very specific rules. And yet, on average this year, U.S. consumers have received 4.3 billion unwanted calls a month.
We are in the age of cell phones and there are some features on your cell phone that can help reduce the number of calls you’re getting. I made this downloadable guide that can help you to start blocking calls right away on your iPhone, Android or Google Pixel device. Share this with a family member or friend.
What about junk mail? Did you know that you can reduce that, too? This really excites me because you can get bombarded with this stuff. I know. All you have to do is register with the Direct Marketing Association’s Consumer Website. If you’re a caretaker or if you’ve lost a loved one – you can stop junk mail to them as well.
Want to see the latest scam letter that I’ve received? Take a look!
Tennessee has an access to justice initiative part of that includes something known as HELP4TN.org. There, you’ll find lots of legal resources there and you can even ask an attorney for help by email. That’s a great resource especially if you have been scammed financially or are on a fixed budget and not able to hire an attorney.
Here’s what’s getting reported these days.
The overwhelming majority of calls reported were robocalls — 68 percent of the 5 million calls you reported during the fiscal year ending October 2021 were robocalls. (If you answer the phone and hear a recorded message instead of a live person, it’s a robocall). Another 22 percent were live calls.
The most common topic of the calls you reported was imposters, including calls from scammers pretending to be the Social Security Administration or IRS.
The next most-reported topic — up by more than 175,000 from last year — was warranties and protection plans. Following that were calls about debt reduction, medical and prescription issues, and computers and technical support.
Learn more about these reports, including data for your state.
Your reports show what we all know — even if you’re on the registry, you’re still getting unwanted calls. Legitimate, law-abiding companies typically follow the Do Not Call rules. But scammers often ignore them. To get fewer calls, read about some steps you can take to block unwanted calls.
National Consumer Protection Week is March 3-9, 2024
During the month of March, we will observe National Consumer Protection Week. What better time to spread the news about these scams. One way you can help is to share our episodes on scams with a family member or friend. We must do what we can to protect ourselves and one another. Learn more about how you can start the conversation that stops scams by visiting www.FTC.gov/PassItOn #NCPW2024
Join the Boomer Time community! Learn more at NancyCogar.com, subscribe to my newsletter and gain helpful resources to help you or your loved one navigate aging with confidence.
Resources Mentioned in this Podcast:
