Many seniors are at risk of falling victim to con artists who prey on them in an effort to gain access to their savings and any assets they have accumulated over the years. An example of such a scam occurs…
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Elderly Phone Scam Resurfaces Across Nation, Adapts to Established Suspicions
Some publications call it the “Grandparent Scam.” The phone rings, and the frantic, young voice on the line asks its grandparents for help. Typically, the caller claims to be trapped in jail and desperately in need of bail money. The…
Tagged with: elder law, Federal Trade Commission, Grandparent Scam, Kim Garner, North Carolina, Wake County, Within March
Elderly Americans Are Increasingly Targeted by Financial Scammers
Scams targeting the elderly are spreading. According to Federal Trade Commission data, 26 percent of 2012 fraud complaints made to the agency were made by people age 60 and older (the highest of any age group). That figure represents an…
FINRA Warns of Brokerage Firm Imposters
An investor alert was issued by the Financial Industry Regulatory Authority warning of calls from scammers falsely claiming to represent a well-known brokerage firm. In this scam, the imposters are claiming to be offering certificates of deposit with high yields,…
New Phone Scams Targeting Seniors
One of the most common telemarketing frauds taking place around Michigan right now is what is called the “grandparent scam.” According to Glenn Clark, a member of the Attorney General’s Consumer Protection Division “Senior Brigade,” between 55 and 80 percent…
‘Pension poachers’ blamed for backlog in approval of VA applications
‘Pension Poachers’ are “helping” veterans hide assets to ensure they qualify for Aid and Attendance, typically by charging high fees to set up annuities and trusts (up to $10,000). The Department of Veterans Affairs (VA) has an outrageous backlog of…
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