'Tis the season for financial crimes against seniors
Better Business Bureau Shares Holiday Safety Tips
Nov. 30, 2005, Arlington, VA -- Not everyone is full of goodwill
during the holidays. Unfortunately, the holidays are prime time for financial
crimes -- identity theft, robbery and fraud -- and seniors are often the
target.
According to the National Crime Prevention Council, seniors fall prey
to fraud for a variety of reasons. They are generally more accessible
by telephone and mail; are trusting and willing to listen; have limited
experience with investments; and are deeply concerned with maintaining
finances to last them throughout their lives. Furthermore, many older
people are complacent or forgetful of details and may be embarrassed to
admit they've been "had" by a scam artist.
To safeguard against financial crimes this holiday season, the Better
Business Bureau offers these timely tips for seniors and those who care
for them:
- Hang on to your personal information. Do not give any personal
information over the phone or Internet to an unfamiliar company or caller.
This includes your credit card numbers, but also the credit card expiration
date, your Social Security number, driver's license number, bank account
numbers, and personal information, such as your mother's maiden name.
Even if you are told it is only for "identification" or "verification" purposes,
this information can be used for unauthorized credit card charges or
bank account debits. Tell the person to send their request to you in
the mail and that you will check out their record with the Better Business
Bureau.
- Use direct deposit. Your mail -- both incoming and outgoing
-- can be vulnerable, especially during the holidays when criminal activity
is heightened. If your Social Security or Supplemental Security Income
(SSI) check or other payments is delivered by mail to an unlocked box,
you may be at risk for theft. Direct deposit eliminates the risk of lost
or stolen checks, reduces fraud and gives people faster access to their
money on payment day. Direct deposit also protects against identity theft.
For more information about enrolling in direct deposit of your Social
Security or SSI payment, call the Go Direct helpline at
1.800. 333.1795 or sign-up online at www.GoDirect.org.
- Pay the safest way. Many older Americans enjoy the convenience
of online holiday shopping. If you're one of them, remember it's best
to use a credit card as your payment option and to check that the Internet
connection you will be using is secure. Under federal law you can dispute
the charges if you don't get what you were promised, or if the product
is not delivered within the stated time period. Many credit card issuers
also have a "zero liability" policy for unauthorized charges in the event
your credit card number is stolen.
- Arm yourself with information. The Better Business Bureau
offers safe shopping advice and other helpful tips at the www.bbb.org
Web site. When in doubt, always check things out. Consult with trusted
family members, friends or neighbors before making a major purchasing
decision. Whenever you have a question or concern regarding a merchant
or marketplace transaction, contact your local Better Business Bureau
or check the consumer tips and alerts at www.bbb.org.
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