5 Costly Scams Targeting Retirees

By April 13, 20152015, Newsletter

Con artists are using many schemes to prey on retirees. Don’t let your family members become victims of these prevalent scams.

  1. Since October 2013, the Internal Revenue Service (IRS) has reported over 290,000 scam calls. In these calls, the scammers claim to be from the IRS, declaring that the taxpayer owes money. The scammers threaten legal action and even arrest.
  2. Scammers will also call seniors pretending to be their grandchildren in need of money. They start the conversation like this: “Hi, Grandma. Do you know who this is?” Once they guess the name, the caller takes on that identity and asks for money.
  3. Beware of unknown, online pharmacies. With the cost of prescription drugs on the rise, some seniors go online looking to save money on prescription drugs and homeopathic remedies. Some fraudulent online pharmacies will take the money without ever mailing the drugs.
  4. Another scam has con artists reading obituaries in the local paper and calling the family of the deceased claiming that there are unpaid debts owed.
  5. A few unscrupulous funeral homes have also targeted retirees by encouraging them to purchase ridiculously expensive caskets. These same places also add unnecessary charges that are unfamiliar to the senior and more often unnecessary. The best defense is to go with a family member or friend to help look over everything at that vulnerable time of life.

These are just a few of the scams and they can affect everyone, not just retirees.

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