AARP Foundation ElderWatch engages hundreds of volunteers each year to help older consumers recognize, refuse and report fraud and scams. This website provides additional information and tools to help protect consumers against financial exploitation.
Fraudsters use a number of persuasion tactics to convince their targets to give them money. Here are three of the most common red flags we’ve seen from callers into the AARP Foundation ElderWatch hotline in Colorado:
If you receive an unsolicited offer like this, there’s a good chance that you’ve been targeted by a scam artist. Most scams of this nature rely on your response to their initial promise of lottery winnings, fast-cash from an easy work-at-home job, guaranteed returns from a hot new investment or an inheritance you didn’t know about, so that they can gain access to your personal information and solicit money from you.
Scam artists are very good at pretending to have “limited time only” offers or “inside information” that is designed to get you to act quickly and make an irrational decision. Don’t fall for those tactics. If the offer is legitimate it will still be there tomorrow.
Scam artists have a knack for making people believe that they’ll be better off if they take the deal. But what really happens is that the scammers are the ones who are better off — they leave with your money, and you’re left with nothing from the too-good-to-be-true promises that were made.