The old or seniors by reason of their age are vulnerable to fraud or deceptions even from somebody close to them. So they should observe the following precautions:
Don’t talk with salesmen over the telephone. It is not bad manners. It is to avoid scams. There is no law that says that you cannot say no.
Don’t give any personal information, including your credit card number or bank account, over the phone unless you were the one who made the call.
It may sound unnecessary but people still need to be reminded not to withdraw money on a stranger’s say so. In one common swindle, a thief pretends to be a bank employee and asks you to take out money to “test” a bank teller. Banks do not check their employees this way.
You should be especially wary of sure thing schemes. Keep in mind that there are no deals without risk. The usual scheme is to convince you to put up money that will earn double the amount in no time at all. Check with your local Better Business Bureau to get more information about the record of any company before doing business with them.
Another common scheme is for individuals to pretending as servicemen knocking at your door. They may not have the required skill and just want some quick and easy money. The first thing you should do is ask for their references. If you do hire them, demand a written work specification. Under no circumstances should you pay full in advance.
There is also the matter of the Identity Theft
How can your identity be stolen? Using your name, Social Security number, or credit card without your okay is called identity theft and it’s a serious crime. Be sure to protect yourself.
Do keep information about your checking account private. Used and new checks contain vital information and should be kept out of sight, lost or stolen checks reported at once, and keep track of your bank account and scrutinize you bank statements.
Anything that is no longer of use and may contain or convey information about you must be destroyed.
Do be very careful when buying things online. Websites without security may not protect your credit card or bank account information. In selecting the site where you will place your orders, look for indications that it is amply protected.
For the benefit the public, and the elderly should take note of this, the Federal Trade Commission (FTC) will provide information on the measures to take to prevent online scams.
About the author: Roger Hanna specializes in real estate trends. Consult your local Memphis Realtors professional for the latest information on Memphis condos.