Six Scams You Should Avoid
Sunday, January 19, 2014, 1:00 AM | Leave Comment
There are many well-known scams that exist today and the irony is they are all on the rise from one year to the next. So many articles have been written about the conning in a variety of industries but still folks of all ages, especially older ones, get conned every year. The latest numbers show almost $3 Billion were taken away from older folks that they would never see again.
However, it’s not just older folks who are most vulnerable but the whole population in general get scammed on a regular basis.
This post is a reminder to all folks, regardless of age, to avoid these six cons. The culprits are none other than folks living in the United States.
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Grandparents
This is a classic example of grandparents being scammed and is on the rise quite rapidly. The scammers search obituaries, social media, ancestry websites and then call grandparents claiming to be their grandchildren who’ve been arrested or hospitalized and need immediate money.
Don’t believe the caller, not even for a minute. Don’t even think about it and hang up. Call your son or daughter, tell them about the phone call. I bet they surely would tell that the call was hoax and a scam.
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Home Repair
Home repair scams can happen any time but are more “alive” and aggressive when a natural calamity has occurred. They call themselves contractors but unscrupulous at best. They are perhaps the worst kind of scams – taking advantage of the misery that the homeowner is in.
You have the Internet available. If you don’t, check the contractor in Yellow Pages and make sure that they are licensed in your state. They must be located in your town. It wouldn’t make sense to try to give the contract for repair to someone outside your town of residence.
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Health Care
People 65 and older are prime targets because of Medicare benefits. The Affordable Care Act (ACA) is pretty new. Many older folks have hard time understanding it. Many experts predict health care scams will become epidemic. So watch out folks.
Talk to your parents and grandparents about Health Care scams and ask them to let you know if they encounter any such calls.
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Investment
I’ve been getting many invitations for free-lunch seminars hawking questionable financial products. Even if they are legitimate ones, the so-called investment gurus would tell you to “hold” on to your investment (CNBC is one).
After sometime, they would sell their investments – if they did buy into them, making huge profits – without letting you know to sell your investment as well. You’re stuck with a “dog”. They win, you lose.
There are many more who pitch from cold-calling telemarketers for “no risk” investments in precious metals (like gold and silver) or penny stocks. There is no such thing as “no risk” investments, period.
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Romance
This scam is really quite smart. Scammers cruise online dating websites, posting hundreds or perhaps thousands of messages a day. If someone responds positively, schemers eventually request money for a plane ticket to come visit.
All I can say about this type of romance is if you’ve never seen the person, romance doesn’t make any kind of sense.
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Charity
This is probably the most scam that men and women of all ages fall for. When you hear someone is distressed and in agony, your heart melts. I say they are the biggest scams of them all, milking millions if not billions of dollars from ordinary folks.
The scammers might present themselves to you as asking for money for veterans, needy or sick children or probably victims of a recent disaster.
Any email you receive, asking for money, is fraudulent, period.
In a Nutshell
Never ever give credit card information to telephone or front-door solicitors. Stick with reputable charities that are registered with IRS and other Government agencies.
No matter how many times you’re warned – like in this post – you’re bound to fall for a scam like ones I mentioned if you’re not very careful.
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