According to the Federal Trade Commission, consumers lost more than $10 billion to fraud in 2023. Worse, elders are particularly vulnerable, especially to online scams. The FBI Internet Crime Complaint Center announced that Americans over the age of 60 were defrauded of approximately $3.4 billion in 2023, up 11% from 2022. It is...
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Mayday, Mayday, be on the Lookout: Incidents of Fraud have Risen Dramatically!
I recently came across an article from AARP about the rising number of scams and other forms of fraud being perpetrated nationwide. Here is a synopsis of this troubling article, along with a few links. Let’s begin with some numbers. According to the Federal Trade Commission, Americans reported losing a record $10 billion...
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Useful Info During COVID (v.6)
Scammers Gonna Scam
As we begin vaccinations, you can be sure that scammers will be coming up with creative ways to separate you from your money. Per the FTC, keep the following in mind:
You likely will not need to pay anything out of pocket to get the vaccine during this public health emergency.
You...
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Elder Abuse – Do You See Signs?
Do you have a family member or a neighbor who is elderly, or perhaps younger and intellectually disabled? These folks are prime targets for elder abuse. Some things to keep your eyes and ears open for include:
A previously uninvolved family member becomes the primary caregiver.
A previously unfamiliar “friend” becomes the primary caregiver.
Lots...
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Last Week Tonight’s John Oliver Has Something to Say About Guardianships
Have you seen his piece on guardianship? It’s scary, they are extreme though not rare examples that he uses, and being John Oliver, the bit has its funny moments too.
As one of the spotlights, he tells the story of a couple who were put under guardianship, even though they perhaps were still competent...
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National Grid Warns Customers to Guard Themselves & Sensitive Account Information
Apparently scammers are getting better at their craft - received this from my local police department:
During this holiday season National Grid and local police departments received an increasing number of calls from customers being targeted by billing scam artists and impersonators trying to gain access to account information and entry to National Grid customers' homes. The...
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National Grid Billing Scam
I recently received an email from Norwell Police Chief Ted Ross warning South Shore residents about a utility billing scam. Fraudulent callers are targeting National Grid customers throughout New England. The scammers are demanding payment of alleged electric bill balances (that customers may not even owe) and are threatening to shut off their electricity...
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If It Sounds Too Good to be True…
Right in our own backyard, another financial planner has been charged with scamming seniors. His pitch was that his investments would allegedly earn guaranteed 12% returns - not bad - and not likely. Further, he allegedly implied that these investments were safe; Bill Galvin's office says they were patently risky. Regardless of how these charges...
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