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Seniors told to guard against scams
They get tips on avoiding ID theft, Medicare scams, investment and charity frauds
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Published: July 9, 2008
Con artists have no respect for their elders.
In North Carolina, half of all scams that face prosecution are aimed at seniors.
Many seniors who all their lives have believed in saving money, now have easy access to cash, making them attractive targets for thieves, said John Maron, an investment-education coordinator in the N.C. Secretary of State's Office.
Maron joined other state officials at Hanes Mall yesterday for a program called Scam Jam. About 50 seniors came out to learn how to avoid identity theft, investment fraud, Medicare scams and charity fraud.
"If something sounds too good to be true, then it is -- there's no probably about it" said Stephanie Bias, who works in the Seniors' Health Insurance Information Program out of the N.C. Department of Insurance.
Bias urged seniors to be skeptical of anyone soliciting personal information, and to carefully guard their financial data.
"Caller ID and a crosscut shredder are the two best investments you'll ever make," she said.
Both Bias and N.C. Attorney General Roy Cooper instructed seniors to be particularly careful with documents that reveal their Social Security numbers. To avoid carrying around an original Social Security card or a Medicare card, they offer this suggestion: Make a copy of the card. Black out as many numbers as can be easily memorized, then make another copy so that nothing can be seen beneath the blacked-out section. Destroy the first copy and keep the final one for your wallet.
Savvy seniors also must ask questions. David Dalrymple, the president of the Better Business Bureau of Northwest North Carolina, said that it's critical to research charities before donating.
He said that you should find out how much the head of the charity is paid, how much the charity spends on administrative expenses, and how well it protects personal data.
He also advised donors not to give cash but instead write checks made out to the charity itself, not to an individual.
Many attendees also reported being solicited for "free lunch" seminars, a common scam in which largely unqualified financial advisers offer free food along with a hard sales pitch in an attempt to gain new clients.
■ Elizabeth DeOrnellas can be reached at 727-7279 or at edeornellas@wsjournal.com.
How to avoid identity theft
• Don't carry around your Social Security card or any other document that has your Social Security number on it.
• Don't put mail that contains personal financial information in unsecured, outside mailboxes.
• Shred all pre-approved credit-card applications. Call 1-888-5-OPT-OUT to stop such mailings.
• Don't put your driver's license number on your checks.
• Never give out personal information to telemarketers or e-mail solicitors.
How to avoid telemarketing scams
• Join the Do Not Call Registry online at www.ncdoj.gov or by calling 1-888-382-1222.
• Don't give out any important information such as your bank-account, credit-card or Social Security numbers over the phone.
• If callers who ask for financial information claim to be from your bank, church or another organization, get their names and phone numbers and then call them back to verify their identity.
How to avoid sweepstakes scams
• Throw out all unsolicited mailings that claim that you have won a lottery or sweepstakes.
• Never send money to collect a prize, loan or credit card.
• Don't put your Social Security number or bank-account information on contest-entry forms.
• Don't feel pressured to buy something -- you can enter a sweepstakes for free.
How to avoid annuity fraud
• Don't buy anything you do not understand.
• Ask an independent professional before making any decisions about investment offers or insurance policies. Check with the state Securities Division or the Department of Insurance to make sure that the provider is registered.
• Read all the fine print.
Source: N.C. Department of Justice
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