Are you hip to fraud? Many of us think we are, until it happens to a friend or ourselves. As it happens so often, a couple of times a month these days, I was over at a friend’s home in March and confronted fraud once again.
My friend was on the phone with his mother and father, as they had gone down to the bank to take out $8,000 to drop off to some unknown on the courthouse steps supposedly to help out their nephew. What they did not realize was that it this was fraud, a very common fraud.
Two days later, I had the good fortune to interview Jeff Lanza, a retired Special Agent with the FBI whose current line of work is public speaking about this very topic. Every meeting I go to, I bring up the topic of fraud for discussion.
One of the ways we can add value to our community is to share with our friends and family that we are all vulnerable to fraud for a number of reasons, but especially seniors. The FBI website highlights that seniors are looking for promises of greater virility, stamina, and wealth. In addition, oftentimes communications from a senior to children or to close friends are reduced for a variety of reasons and for those perpetrating fraud can this build a relationship before anyone close to them notices.
Below are some resources to enhance your knowledge of not only fraud against seniors, but all types of fraud. Take a few minutes to review, and you could not only help your friends and family, but perhaps yourself!
Fraud Resources:
- Lanza Group Fraud Handouts
- Common Fraud Schemes
- Protect Your Money: Check Out Brokers and Investment Advisers
- FINRA Investors List of Frauds and Scams
- USA.gov Consumer Frauds and Scams
- Fraud Target: Senior Citizens
Leonard C. Wright, CPA/PFS, CFP, CLU, ChFC
Money Doctor, AICPA
KLAV 1230 AM Financial Fridays Radio Show Host
213-447-1833