MAGNOLIA

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SPIRIT OF MORTON

MORTON, MS

ClfculiltlOil;:;; 1500

WEEKlY

10114/2009
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BBB Offers Advice on

Elder Fraud Prevention
) jip Ridgeland, October 13 - It is well known tbat elderly
individuals tend to be more likely to fall for scams, Even though
elder fraud often goes unreported, an e"timated $40 billion+ is
stolen in elder fraud activities every year.
"The phrase 'If it's too good to be true, it probably
is' rings true in many instances," said Bill Moak, President!
CEO ofthe Berter Business Bureau Serving Mississippi. "Law
enforcement agencieso~eiiUiTk about the difficulty in
bringing elder fraud perpetrators to justice because they are
so prolific. J'
"The BBB offers the following elder fraud preven­
tion checklist which should be reviewed often," Moak con­
tinned,
Avoid sending money or providing personal finan­
cial information.
Be cautious in disclosing your bank, credit card and
Social Security numbers,

,Do not speak at length with people who are unfamil­

iar to you.
Decline answering questions of a private nature
online, on the telephone or at your door.
,Do not sign any documents without reviewing them
carefully.
Have a trusted family member or friend review any
documents before signing them,
'VerifY all claims,
Don't take the word ofsomeone offering to do work
or provide a service. Check references and contact the BBB to
verifY the reputation of businesses unknown to you.
.Reach out for help before investing or spending con­
sider.ble amounts of money.
Check with trosted individuals (financial advisor, fum­
ily, friend) before making any significant transfer for money or
shares.
'Shredall bills, notices and personal mail before throw­
ing them away,
"Dumpster diving" is a lucrative activity for
fraudsters. Don't just throw paperwork away shred it.

'Recognize predatory lending practices,

Senior financial abuse is often perpetrated by morl­
gage brokers, appraisers and home contracts looking for a
quick buck.
.Avoid health insurance scams by identifYing red
flags,
Beware of Jucralive-sounding plans that are sold as
being great alternatives/supplements to Medicare. Don't pur­
chase any medical equipment tbat is not ordered/authorized
by your physician,
'Bypass the "sucker list" altogether,
Just hang up,
Don'l worry about being polite - just don't have
conversations with unknown individoals asking for personal
informalion or offering great "deals",
In addition to the Better Business Bureau
(www.ms.bbb.org). other sources of elder fraud information
include the National Consumer League Fraud Center
(www,fraud.org/elderfraud),AARP (www,aarp,org) and tbe
Federal Trade Commission (www,ftC.gOV).