Consumers lose more than $40 billion a year to telemarketing fraud. People over 50 years of age are especially vulnerable and account for about 56 percent of all victims, according to a recent study by the American Association of Retired Persons. Scam artists often target older people, knowing they tend to be trusting and polite toward strangers and are likely to be home and have time to talk with callers.
You can help empower your parents and others who may be targets of fraudulent telemarketers by describing some tip-offs to rip-offs, letting them know their rights and suggesting ways they can protect themselves.
Listen to Steven Feldman, an Elder Law Attorney, describe some senior scams in his 2 podcasts.
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