Eric Trautman, Head of Security for Oakcrest Retirement Community shares his insights- common scams and frauds he has seen, tips for recognizing them, ways to avoid them, and what to do if you are a victim.
Protect Your Parents- Avoiding Scams that Target the Elderly
How to recognize, prevent, and response to Fraud.
How big is the problem More than 11.1 million people in the U.S. have been the victim of identity theft. This is a 12 percent increase since 2010. Telemarketer Fraud costs the American public over 40 billions dollars per year. 1 in 10 Americans have been the victims of credit card fraud. 1 in 6 Americans have been the victims of telemarketing fraud.
Telemarketing Fraud Defrauding over the telephone Examples
Fraud Flags Credit Card Numbers Bank Account Numbers Social Security Numbers Do not agree to meet the caller at a bank to withdraw funds Do not let the caller send a “runner” to pick up money Pressure to make up your mind quickly Sounds too good to be true
Identity Theft Stealing someones personal information for the purpose of using that information fraudulently. Examples
Identity Theft Prevention Guard personal information Detection Credit Reports Credit monitoring services Monitor mail and accounts Defense Fraud Alert Close Accounts Federal Trade Commission Police
Advanced Fee Scheme Paying money in anticipation of receiving something of great value Examples
Healthcare/Insurance Fraud Unnecessary/fake tests Medical equipment fraud Examples
Healthcare/Insurance Fraud Be wary of free services/equipment Review explanation of benefits Never sign blank forms
Credit Card Fraud Fraudulent use of credit card How does it happen? Telemarketer fraud Captured online Phishing Number stolen during transaction
Credit Card Fraud Prevention Tips Keep an eye on credit card as much as possible Never provide credit card information on an unsecured website Shred discarded paperwork with credit card information Be careful who you provide your credit card number to Do not email credit card numbers for payment If your card has been lost of stolen Contact your credit card number immediately
Counterfeit Prescription Drugs Counterfeit medicine is fake medicine. It may be contaminated or contain the wrong or no active ingredient. They could have the right active ingredient but at the wrong dose. Counterfeit drugs are illegal and may be harmful to your health. Only purchase medicine from reputable pharmacies Be wary of purchasing medicine online and from other countries
Contractor Schemes Contractors who do not provide the work agreed upon. People posing as contractors, or utilities employees to obtain access to home The Better Business Bureau ranks contractor fraud as the number 1 complaint every year. Be wary of door to door contractors Check the BBB on contractors