Archived Story

Program on avoiding fraud

Published 10:36pm Thursday, January 17, 2013

Millard & Company invites the community, and especially seniors, to an educational seminar entitled “Recognizing and Avoiding Fraud” at The Tryon Depot, 22 Depot Street in Tryon at 3 p.m. on Tuesday, Jan. 22.

There is no charge and the public is welcome.

People committing fraud are getting more and more sophisticated, and their cons are showing up in a dizzying array of schemes. No doubt you’ve heard the warning, “if it sounds too good to be true, it probably is.” This is a good rule of thumb and a place to start when analyzing a request or a proposal.

Senior citizens are especially at risk because they are good targets. They’re most likely to have a “nest egg,” to own their home, and/or to have excellent credit — all of which make them attractive to con artists.

People who grew up in the 1930s, 1940s and 1950s were generally raised to be polite and trusting. Con artists exploit these traits, knowing that it is difficult or impossible for these individuals to say “no” or just hang up the telephone.

Older Americans are less likely to report a fraud because they don’t know who to report it to, are too ashamed at having been scammed, or don’t know they have been scammed. Elderly victims may not report crimes, for example, because they are concerned that relatives may think the victims no longer have the mental capacity to take care of their own financial affairs.

There are also many types of scams: telemarketing fraud, identity theft, and letter of credit fraud are just a few. And seniors should especially be aware of health care/health insurance fraud, counterfeit prescription drugs, funeral/cemetery fraud, telemarketing fraud, Internet fraud and reverse mortgage scams.

Be proactive and attend this important program. Andrew Millard will be the presenter; he promises a lively, entertaining and informative 60 minutes.

To register for this seminar, email Michele Deudne at michele@low-stress-investing.com or call 828-859-7001 ext 2.

– article submitted by Michele Deudne

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