Fraudsters use scams to trick decent people out of their property, savings and cash. It’s easy to think that this won’t happen to you, until... it does.
Fraudsters can be extremely convincing. These ruthless criminals have developed many sophisticated ways to make you believe you can trust them. They will appear charming and helpful, offering you a wonderful service or product you simply cannot afford to be without! And, usually, at an amazingly reduced price!
Anyone one of us can be conned, however, research shows that older people are especially at risk. Fraudsters are likely to see them as:
- Rich – Older people are the most likely demographic to own their own home, have a nest egg and have excellent credit
- Polite - Growing up in the 1930s, 40s and 50s, people were raised to be polite and to trust others especially those who appear to have authority. This can make it difficult for them to say ‘no’ to a seemingly nice person or hang up the phone on a telemarketing scam
- Isolated and unfamiliar with the cons of fraudsters – Older people are likely to be more isolated and to have less access to the internet and other sources of information about scams
- Less robust - If an older person reports the crime, they often make poor witnesses. Con artists count on the fact that older people will not be able to supply enough information to investigators
People with learning disabilities are also at higher risk because they can be easily influenced. They may not have the capacity to ask the right questions and are more likely to take what they are being told at face value.
Read on to find out more about how you can stay one step ahead and protect yourself and your loved ones.
Common types of scams
Bank Scams
Fraudsters telephone you or send you an email and pretend to be from your bank or building society or even the police or a fraud company. They will tell you there is a problem with your account which they are going to help you with. However, they need you to confirm your bank details first. They may con you into believing that they are really from your bank because they already have some information about you e.g. name, address and even account number. They will use this to try and get more details from you. Once they have this, they will try and steal money from your bank account.
The fraudster may invite you to ring them back as a security measure. Do not be fooled as this is all part of the scam. They will not hang up their phone. So you will still be connected to the criminal’s number when you think you are ringing your bank.
Banks, building societies, genuine fraud investigation agencies or the police, will never ask you to disclose your PIN number either by phone, letter or email.
Tip
- Do not provide your bank details to cold callers.
- Never disclose your PIN number to anybody, especially callers (either by telephone, a courier at your door or by email) who claim to be from your bank
- If you do receive a call from a person claiming to be from your bank, say you will ring them back. If possible. ring the bank using a different phone or wait at least 5 minutes to make sure that the line is clear (do not give your PIN details)
Eating Out
Fraudsters pose as bank staff and phone restaurants. They pretend that there is a fault with the restaurants credit card payment system. The fraudsters tell the restaurant that they can help them to resolve this so that the restaurant does not lose money. The restaurant is told to phone a line that is staffed by criminals and to put on any customer waiting to pay by card.
The customer is asked for their bank details to pass security before the transaction is put through. The fraudsters then try to transfer money from the customer’s bank account to their own.
Tip
- Never give your bank details over the phone to someone who has called you
Healthcare Equipment and Insurance Scams
Scam artists may promise ‘free’ medical equipment and then charge for it, or bill insurance for fake tests or services that were not performed.
Remember nothing is ever free!
Tip
- Never sign blank insurance claim forms or do business with door-to-door or telephone salespeople
Buy Now, Pay Later
Fraudsters will charge excessively high interest rates on products and services. The detail is often hidden in the small print.
Tip
- Check the interest rate and how much you will be expected to repay at the end. Make sure you only purchase from reputable companies and receive a copy of a signed written credit agreement. If you don’t understand the small print, ask
What to look out for
Scammers will use every trick in the book to get you to part with your cash including:
- You have won a lottery, sweepstake or competition... BUT YOU HAVE TO SEND MONEY
- Money you have won is being held in a holding company... BUT YOU HAVE TO SEND MONEY
- Somebody has left you an inheritance... BUT YOU HAVE TO SEND MONEY
- A clairvoyant can stop bad luck or direct good luck towards you... BUT YOU HAVE TO SEND MONEY
- There is a ‘secret’ deal which will make you rich... BUT YOU HAVE TO SEND MONEY
Scammers send out catalogues selling food, pills, potions, jewellery, clothes, items for home and garden. They guarantee a prize to those who order and make it appear like 'you' are the only one to be getting this amazing offer. They never send the promised prize (though some do send ‘cheap’ goods to keep the victim on the ‘hook’) instead they send out more promises to get more orders!
For more information visit the Think Jessica website at: www.thinkjessica.com