Articles Posted in News of Interest to Seniors

Prime Bank Note Fraud What can we say? Here is another one. International fraud artists have invented an investment scheme that supposedly offers extremely high yields in a relatively short period of time. In this scheme, they claim to have access to “bank guarantees” that they can buy at a discount and sell at a…

Letter of Credit Fraud: It is amazing how many different types of investment schemes, fraudsters can create and manipulate to get their hands on your hard earned money. Here is another one, letter of credit fraud. Legitimate letters of credit are never sold or offered as investments. They are issued by banks to ensure payment…

The growing use of the Internet has created a plethora of new opportunities for fraudsters. This post contains some tips for avoiding (1) Internet auction fraud, (2) non-delivery of merchandise and (3) credit card fraud. Before entering into a transaction over the Internet, please consider the following. Once a fraudulent transaction takes place over the…

Health Care Fraud or Health Insurance Fraud: As the population ages and through the use of fraudulent internet postings, telemarketing scams and door-to-door sales people canvasing senior communities, health care fraud and health insurance is on the rise. The purpose of this post is to provide a general description of both and to provide a…

Telemarketing Fraud #1: There are two types of unsolicited communications that have the potential of causing serious adverse financial consequences on unsuspecting individuals, especially seniors. One form of such communication is through the internet. The other is an unsolicited telemarketing call. This post relates to the later form of solicitation but many of the comments…

Reverse Mortgage Scams: It seems that every time you watch TV or pick up the mail there is an advertisement extolling the benefits of a reverse mortgage. But the benefits do not always outweigh risks. As with all investments, you have to perform your own due diligence. Also, it is important to make sure that…

Assessing Your Risk Tolerance! One of the first factors that needs to be considered when thinking about making any type of investment is risk. When it comes to investing, you need to remember that risk and reward go hand in hand. The phrase “no pain, no gain” – comes close to summing up the relationship…

The Florida Office of Insurance Regulation Recently Announced a Multi-Agency, Multi-Million Dollar Agreement with Prudential for Life Claims Settlements. Please make sure that you read the entire announcement to determine what you have to do to see whether or not this settlement will have an impact on you or someone that you know. February 02,…

You have heard of the word fishing but what about its cousin “phishing.” Please read below to gain valuable knowledge about what “phishing” is and how to protect yourself. Watch out for “phishy” emails. The most common form of phishing is emails pretending to be from a legitimate retailer, bank, organization, or government agency. The…

Many legitimate companies and charities solicit consumers by phone. Unfortunately, con artists use the phone, too. They rob people every day, with phones as their weapons. Fraudulent telemarketers understand human nature. We all want to believe that it’s our lucky day, that we can get a great deal, or that we can solve our problems.…