Fraud comes in many forms, often disguised as an e-mail, a phone call, or a friendly investment seminar. It can affect people of all ages, but many of those behind fraudulent schemes feed off the weak, the infirm, and the older members of our society. Senior citizens, many of whom were raised to be polite and trusting, own their homes, have a nice nest egg of assets, and possess excellent credit ratings, are far too often victims of fraud.
Counterfeit prescription drugs and fraudulent antiaging products have become prevalent. Product promotions, special deals, and cost reductions are promised, and unfortunately many of the "drugs" and anti-aging products are worthless. Seniors should be wary of buying drugs over the
Funeral and cemetery fFraud
Far too often, senior citizens fall victim to funeral and cemetery fraud. Highpressure promotore have been known to sell unnecessary current services, retain the right to bill for additional services in the future, and wrap people up in noncancellable contracts. Seniors should be advised to have an attorney review all contracts. They should also obtain the phone number for the
High-pressure telemarketing frauds abound too. Free products, discount vacations, low-cost vitamins, and health care products are offered, but often unstated are the high postage and handling fees that must be paid. Unwelcome callers may also ask for credit card and banking information, and then this information is sold to individuals who run up credit card charges or wipe out bank accounts. The best advice to avoid these scams is to say "No thank you" and then hang up on every telemarketing call received.
Reverse mortgage fraud Reverse mortgages can allow seniors access to the equity in their homes without the need to sell that home. Unfortunately, some schemes promoted by unscrupulous professionals end up stealing the equity in these homes. Victims of these scams are often offered free homes, investment opportunities, and refinance or foreclosure assistance. Legitimate reverse mortgages are insured by the