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5 Tips for LGBT Older People to Avoid Fraud
![]() October 2018 | William Chalkley, with Top10VPN
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![]() ![]() 5 Tips for LGBT Older People to Avoid Fraud In 2017, more seniors were targeted for fraud and financial exploitation than ever before. America’s seniors work hard to prepare for retirement, yet their high savings and trusting nature leave them vulnerable to exploitation by strangers online, over the phone, and through the mail. Though the community receives greater recognition, understanding, and support than ever before, LGBT older adults often feel isolated and alone. This isolation and limited interaction can make an older person even more vulnerable to the affected charms and friendliness of cold callers and scam artists, who often work to forge a sense of trust and understanding with lonely victims. Whether the scams involve telemarketing, identity theft, healthcare fraud, or any other ploy, we must work to educate ourselves and those around us to protect the vulnerable from threats and encourage the exposure of abuse. Whether you’re an older adult or someone that cares for one, knowing how to avoid these scams can help combat this epidemic and prevent these distressing crimes from happening. 1. Unsolicited Phone Calls The IRS and similar agencies will never call a taxpayer to demand immediate payment, nor will they call about taxes owed without first having mailed a bill. If you’re bothered by lots of unsolicited calls, contact your phone provider. Ask them what services it provides to block unwanted calls. You can also put your phone number on the Do Not Call Registry by calling 1-888-382-1222. 2. Healthcare or Medicare Fraud Remember, neither Medicare nor Social Security will call to ask for your bank information or SSN. There will never be a fee charged to obtain a Social Security or Medicare card. Always review your medical bills to spot records of services that you didn’t receive. 3. Investment Fraud Always check to see if the opportunity you are considering is registered by contacting your state securities regulator. Make sure the person and their firm are well known and have been properly licensed and regulated. You can check out the disciplinary history of brokers and advisers for free using the SEC’s and FINRA’s online databases. Scam artists are counting on you not to investigate before you invest. Always ask questions and watch out for pitches that stress how many others have bought the product. Be especially careful of unsolicited offers and courtship through free seminars, gifts, or lunches. There is never a reason to make a quick or unsubstantiated decision on an investment. As a general rule, choose everyday investments that can be bought and sold through well-known brokerage firms or mutual fund companies. 4. Keep an Eye on Your Statement Many credit card companies and some banks will allow you to set up activity alerts. This will let you keep track of banking activity closer to ‘real time’ rather than waiting for monthly statements.
If you want to contact tech support, call them directly. Be cautious of phone numbers obtained via open-source internet searches. Instead, look for a company’s contact information on its software package or on your receipt. If a caller repeatedly pressures you to buy a security product or says there is a subscription fee associated with the call, resist the pressure to act quickly, and hang up. Criminals often use a fabricated sense of urgency to lure them into immediate action. Make sure you have updated all of your computer’s anti-virus software, firewalls, and popup blockers. Install ad-blocking software that eliminates or reduces pop-ups.
If you suspect you have been a victim of fraud, visit the resources below to find the best route to reporting the crime and resolving the issue. For further information, you can also visit this guide to get a full list of current scams along with information on how to identify, prevent, and report them to the appropriate state and federal agencies.
Financial Industry Regulatory Authority (FINRA) Complaints Federal Trade Commission (FTC) Consumer Response Center FBI Internet Crime Complaint Center (IC3)
Prepared for the National Resource Center by William Chalkley, Top10VPN. Top10VPN produces resources to help safeguard communities from online privacy and security threats. They’re also the world’s largest VPN review website, providing detailed reviews and exclusive deals on popular services like ExpressVPN and NordVPN.
© 2011-2021 Services and Advocacy for GLBT Elders. All rights reserved. For permission to reprint these articles, or post them online, please e-mail us. |
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