phone scams http://www.wisebread.com/taxonomy/term/19141/all en-US How to Protect Elderly Loved Ones From Financial Scams http://www.wisebread.com/how-to-protect-elderly-loved-ones-from-financial-scams <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-protect-elderly-loved-ones-from-financial-scams" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/senior_woman_giving_credit_card_details_on_the_phone.jpg" alt="Senior Woman Giving Credit Card Details On The Phone" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>When I was a child, my grandmother often watched me while my parents were away. One day, I was sitting at the kitchen table while she made a sandwich for me, and the phone rang.</p> <p>My grandmother answered, and a deep, muffled voice said &quot;Mom? Thank God, I need help.&quot; The man, claiming to be my dad, told her he had been stranded and horribly injured, and needed her to drive to his location with money.</p> <p>My grandmother was shaken, but promised to send help right away. She quickly hung up and tried to get a hold of my mom. Thankfully, my dad was the one to answer the phone, completely healthy and carefree.</p> <p>I look back and still shudder at what could have happened if my grandmother had driven to where the man told her. It was my first introduction to con artists who take advantage of the elderly, but it continues to be a major issue. In fact, losses from elder fraud cases cost more than $36 billion in 2015, according to a True Link Financial report on financial elder abuse.</p> <h2>Preying on the elderly</h2> <p>The elderly are targeted by con artists because they tend to be less familiar with the latest technology and trends. They're less likely to recognize an email from a fraudulent &quot;bank,&quot; for example, asking for personal information. Worse, many seniors are simply lonely and isolated. Scammers prey on that. A kind, friendly voice on the other end of the phone can be convincing. And once a scam is complete, the victims often feel so bad about falling for it in the first place that it prevents them from reporting the crime to the police or even family members. (See also: <a href="http://www.wisebread.com/what-to-do-when-you-suspect-a-scam?ref=seealso" target="_blank">What to Do When You Suspect a Scam</a>)</p> <h2>How to protect your loved ones</h2> <p>Shielding your elderly parents or relatives from harm can be difficult, especially if they live alone. These four tips can help prevent con artists from successfully targeting them.</p> <h3>1. Have a family code word</h3> <p>Come up with a family code word to use when there's a real emergency. Pick an odd word that has meaning to your family and is easy to remember. That way, if someone calls claiming to be a family member in need of help, your elderly relative can prompt them for the code word to verify their claim.</p> <p>If my family had a code word and my father really needed help, stating our designated word would have shown my grandmother it was a legitimate crisis. A scammer would have no idea, and would be revealed as soon as they couldn't relay the word.</p> <h3>2. Encourage them to ignore the phone</h3> <p>Many scammers will call just to find out if a person lives alone. Program your loved ones' phones with the numbers of family and friends, and encourage them to not answer the phone if they don't recognize the number.</p> <p>If a caller leaves a voicemail saying they're with a particular company &mdash; for example, a bank or credit card issuer &mdash; show your relative how to verify the number by looking up the company online, rather than just blindly returning the phone call. Taking that extra step to check a bank or credit card company's information can save your loved one from falling for a trick.</p> <h3>3. Help monitor accounts</h3> <p>If your relative is comfortable with this, offer to check over credit card or bank statements. Review them periodically for odd purchases. This is not quite the same as <a href="http://www.wisebread.com/6-things-youll-encounter-when-taking-over-a-loved-ones-finances" target="_blank">taking over your loved one's finances</a>; it's just providing a second set of eyes. If your homebody great-aunt suddenly has charges for a Vegas shopping spree, for example, you'll be able to alert her and help dispute the charges right away.</p> <p>Some banks will let even you monitor the account, but won't give you access to the funds, which can give your loved ones peace of mind.</p> <h3>4. Check AARP's Fraud Watch Network</h3> <p>Some scams are regional, affecting only certain cities or neighborhoods. And the latest iterations of fraud can evolve over time, preying on the unsuspecting.</p> <p><a href="http://www.aarp.org/money/scams-fraud/fraud-watch-network/" target="_blank">AARP's Fraud Watch Network</a> reports on fraud trends both nationally and locally. If you sign up for their alerts, you will receive notifications about scams happening in your area. By getting those alerts, you can warn your elderly relatives and friends about potential con artists and how they work.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Protect%20Elderly%20Loved%20Ones%20From%20Financial%20Scams.jpg" alt="How to Protect Elderly Loved Ones From Financial Scams" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kat-tretina">Kat Tretina</a> of <a href="http://www.wisebread.com/how-to-protect-elderly-loved-ones-from-financial-scams">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-tax-scams-you-should-know-about-for-2018">5 Tax Scams You Should Know About for 2018</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-protect-your-retirement-account-from-a-hack">How to Protect Your Retirement Account From a Hack</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-signs-your-identity-was-stolen">9 Signs Your Identity Was Stolen</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-panic-do-this-if-your-identity-gets-stolen">Don&#039;t Panic: Do This If Your Identity Gets Stolen</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-spot-a-credit-repair-scam">How to Spot a Credit Repair Scam</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Consumer Affairs con artists elderly family members fraud identity theft phone scams protecting relatives scams technology Mon, 04 Sep 2017 08:30:06 +0000 Kat Tretina 2012632 at http://www.wisebread.com Don't Be Fooled by 2014's Most Common New Scams http://www.wisebread.com/dont-be-fooled-by-2014s-most-common-new-scams <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/dont-be-fooled-by-2014s-most-common-new-scams" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/scam-184760721-small.jpg" alt="phone scam" title="phone scam" class="imagecache imagecache-250w" width="250" height="146" /></a> </div> </div> </div> <p>Scams will never go away. From medieval England to modern day America, people will always try to find ways to get money the easy way. These scammers are still relying on methods that have worked for centuries, but there are updated scams that you should always be on the lookout for. So, acquaint yourself with these current scams and cons (some will be new, while others will sound very familiar). (See also: <a href="http://www.wisebread.com/8-vile-craigslist-scams-to-watch-out-for?ref=seealso">8 Vile Craigslist Scams to Watch Out For</a>)</p> <h2>Vishing (AKA, The &quot;No Hang Up&quot; Scam)</h2> <p>Leading the charge in 2014 is a dastardly scam that is relatively new, but very effective if you don't have your guard up. The scammer will call pretending to be someone from the police department, or your bank, or credit card issuer. They will inform you that your card has been compromised in some way, and advise you to call the bank in question. This preys on the belief that you should always call your bank or financial institution, and not the other way around. The clever part about this scam is that the original caller stays on the line with you, in a three-way conversation, and hears everything you tell your bank. The best way to avoid this is to simply hang up the phone and start a new call. If you have been compromised, you will soon find out. If you haven't, you'll know someone was trying to con you.</p> <h2>The &quot;One Ring&quot; Cell Phone Scam</h2> <p>This is a very simple scam, and those are usually the most effective. The crooks simply <a href="http://www.myfoxdc.com/story/24909781/consumer-alert-one-ring-cell-phone-call-scam">call your number once and hang up</a>. You will check your cell phone to see that you have a missed call, and curiosity may just get the better of you. But when you call, the number will be from an area code that is not from the US (although it looks like it). Instead, it will be to a place like the Dominican Republic, Jamaica, or Grenada. It may even be to an adult sex line. Before you realize what's going on, you've been charged $19.95 to connect, and $9 per minute. A piece of software like <a href="http://www.truecaller.com/">Truecaller</a> can help you, but if in doubt don't ever call a dubious number back. They'll call you again if they really need to get hold of you.</p> <h2>Sticky ATM Keypads</h2> <p>Once again, ATMs are being targeted by thieves. In the past, <a href="http://blog.credit.com/2013/05/credit-card-skimming-scams-arent-going-anywhere/?utm_source=Yahoo&amp;utm_medium=content&amp;utm_content=IB_5&amp;utm_campaign=sneakiest_scams">skimming</a> devices were successful. Then crooks would place small blockages in the card slot that would make it appear that your card had been swallowed by the machine. Now, we have <a href="http://www.atmsecurity.com/index.php?searchword=stuck+key&amp;ordering=newest&amp;searchphrase=exact&amp;limit=100&amp;option=com_search">sticky keypads</a>, and they really are sticky. The scammers apply an adhesive to buttons like ENTER, CANCEL or CLEAR. When you press one of these buttons, the keypad sticks, and you are unable to complete the transaction. When you pop inside the bank to report the problem, the thief lying in wait simply unsticks the key with a screwdriver and completes your transaction for you. If you can, always use an ATM inside a trusted bank or building. They are much more difficult to tamper with, and you have staff at hand to help out.</p> <h2>Catfish Catphish</h2> <p>By now, you have probably heard the term &quot;catfish.&quot; It describes someone who is online claiming to be looking for love, but using a fake identity and photos. Now, this has turned into &quot;catphishing,&quot; and these people are not really looking for love at all&hellip; they want money. The catphishers will use legitimate dating sites to start the conversation, but will quickly want to talk or chat outside of the dating site &mdash; because they don't want to be tracked through it. After leading you on with photos and compliments, they will suddenly find themselves in a desperate situation that needs money to fix, and quickly. Never, ever fall for these online dating scams. If they refuse to talk over Skype or meet, be very wary.</p> <h2>The &quot;Ads On Your Car&quot; Scam</h2> <p>There are legitimate businesses out there that will pay you to put advertising on your car. There are also scammers looking to make a quick buck from unsuspecting people looking to make a little extra money.</p> <p>The scam starts with an advert placed on a local website, perhaps Craigslist, offering you up to <a href="http://www.bbb.org/blog/2012/05/putting-ads-on-your-car-scam-says-carol/">$600 per week to put adverts</a> for name brands (Coca-Cola, Heineken, etc) on your car. That should be your first clue; legitimate companies don't pay anywhere near that amount. Then, when you apply for more information, you are sent an upfront payment for even more than the amount they owe you. The idea being you cash the check, keep part of the money, and send the rest to a &quot;designer&quot; working on the project. Of course, this is just a variation on the common &quot;<a href="http://en.wikipedia.org/wiki/419_scams">advance fee</a>&quot; scam. Don't fall for it, and do your research.</p> <h2>The Free Vacation Scam</h2> <p>With people still on tight budgets, vacations are turning into staycations, and the idea of escaping to a sunny foreign destination seems like a pipe dream. Then, these free vacations come along &mdash; &quot;Congratulations, you've won a four-day vacation in Jamaica!&quot; This usually comes in the form of a letter or piece of junk mail, but many people fall for it.</p> <p>Sadly, there's little chance of ever escaping to a relaxing vacation.</p> <p>First, you'll be asked to join a travel club. This can cost $300. Then when you go to book the holiday, you will be greeted with tons of black out dates, regulations, and additional fees. Before you know it, you've spent a small fortune on a &quot;free&quot; vacation, and if you do manage to escape, it will be to a very sub-par vacation that cost a lot less than all the fees you paid.</p> <h2>Penny Auctions</h2> <p>It's tricky to use the word scam with this one, as it is legal. But that doesn't make it something anyone should be participating in. Penny auctions seem like a way to get a high-cost item at an insanely low price &mdash; Apple laptops for $60, HDTVs for $100. But, the actual chance of getting one of these items for that price is very slim indeed. For a start, although the price of the item may only be $60, people may have spent 10 times that amount bidding on it. That's because it can cost 60 cents to place a bid for one cent. You may well place 100 bids, or $60, and get absolutely nothing for your money. Here's a <a href="http://news.yahoo.com/blogs/upgrade-your-life/hidden-dangers-penny-auctions-163331290.html">statement from a Yahoo! writer</a> who tried a penny auction site:</p> <p style="margin-left: 40px;">I bought $60 in bids and got in on an iPad auction. I bid occasionally, trying to time it when the counter neared zero, but I quickly blew 40 bucks in bids. Someone always jumped in at the last second, usually someone using the automated bid setting. So I signed up for automated bids myself, and I was amazed. My $20-worth of remaining bids flew out in 24 seconds. And I didn't win. My 60 bucks was goners! In fact, I watched the most aggressive bidder make 30 bids a minute for 2 more hours until the auction ended. 3600 bids, at a minimum 55 cents a bid. That's $1980 for a device that costs retail $499, and that guy didn't even win!</p> <p>Bottom line: If you want to do an auction, use <a href="http://www.ebay.com/">eBay.com</a>, or another legitimate auction site. The penny auctions are designed to prey on your desire to get an amazing deal. Don't fall for it.</p> <p><em>Have you seen any of these scams or others in the wild? Please share in comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/dont-be-fooled-by-2014s-most-common-new-scams">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-protect-elderly-loved-ones-from-financial-scams">How to Protect Elderly Loved Ones From Financial Scams</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/netspend-the-story-of-the-visa-debit-card-we-did-not-apply-for">netSpend: The Story of the Visa Debit Card We Did Not Apply For</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-vile-craigslist-scams-to-watch-out-for">8 Vile Craigslist Scams to Watch Out For</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-apartment-hunt-on-craigslist-without-getting-scammed">6 Ways to Apartment Hunt on Craigslist Without Getting Scammed</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-safe-is-craigslist">How Safe Is Craigslist?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Consumer Affairs 419 scams catphishing modern scams phone scams scams Thu, 03 Jul 2014 15:00:03 +0000 Paul Michael 1153222 at http://www.wisebread.com