protect your parents- avoiding scams that target the elderly
DESCRIPTION
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.TRANSCRIPT
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FraudHow to recognize, prevent, and response to
Fraud.
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How big is the problemMore 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.
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Types of FraudsTelemarketing FraudIdentity TheftAdvanced fee schemeHealth Care/Insurance FraudCredit Card FraudCounterfeit Prescription DrugsContractor scheme
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Telemarketing FraudDefrauding over the telephoneExamples
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Fraud FlagsCredit Card NumbersBank Account NumbersSocial Security NumbersDo not agree to meet the caller at a bank to
withdraw fundsDo not let the caller send a “runner” to pick
up moneyPressure to make up your mind quicklySounds too good to be true
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Identity TheftStealing someone's personal information for
the purpose of using that information fraudulently.
Examples
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Identity TheftPrevention
Guard personal informationDetection
Credit ReportsCredit monitoring servicesMonitor mail and accounts
DefenseFraud Alert Close AccountsFederal Trade CommissionPolice
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Advanced Fee SchemePaying money in anticipation of receiving
something of great valueExamples
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Healthcare/Insurance FraudUnnecessary/fake tests Medical equipment fraudExamples
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Healthcare/Insurance FraudBe wary of free services/equipmentReview explanation of benefits Never sign blank forms
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Credit Card FraudFraudulent use of credit cardHow does it happen?
Telemarketer fraudCaptured onlinePhishingNumber stolen during transaction
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Credit Card FraudPrevention Tips
Keep an eye on credit card as much as possibleNever provide credit card information on an
unsecured websiteShred discarded paperwork with credit card
informationBe careful who you provide your credit card
number toDo not email credit card numbers for payment
If your card has been lost of stolenContact your credit card number immediately
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Counterfeit Prescription DrugsCounterfeit 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
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Contractor SchemesContractors who do not provide the work
agreed upon.People posing as contractors, or utilities
employees to obtain access to homeThe Better Business Bureau ranks contractor
fraud as the number 1 complaint every year. Be wary of door to door contractorsCheck the BBB on contractors