American consumers give at least $40 billion of their hard-earned money to con-artists. Because seniors
hold much of the nation’s wealth, they are the #1 target for fraud crimes, and are swindled out of at least $3 billion annually. Here is what you
need to know so that you won't suffer from a grand scam.
Recognize the warning signs of fraudsters. Avoid pitches that:
- Exploit your hopes and
sound too good to be true
- Offer a “gift” such as
a free meal or product--these psychologically obligate you to reciprocate
- Urge you to act
immediately due to time constraints or scarcity of resources
Refuse to be exposed to potential fraud
- Reduce your exposure to
sales pitches and free lunch seminars.
- Hang up when you get a
call from an unknown person requesting money.
- Develop a Refusal
Script--keep it with you and by your telephone.
- Sign up for the Do Not
Call List at 888-382-1222.
Report potential cases of investment fraud
- Contact the Kansas
Securities Commissioner’s Office before you invest.
- Confidential reviews on
brokers and advisers are available at www.ksc.ks.gov/backgroundcheck.
- Call us at 800.232.9580
if you believe you have been a target or victim of investment fraud.
Photo by Christian Langballe
This article is published on KansasMoney.gov.
Find more information by contacting these state agencies: