Linda Webb, aka The Fraud Dog, leading fraud expert says, elderly family members are key targets for financial fraudsters. It is important that you ask your elderly family members to let you know if there are any “new strangers” that appear friendly in their lives. Be sure to do due diligence on these “new strangers”. Take a photograph of the person in question. Ask for a business card for whatever they may be soliciting.

Be especially wary if these “new strangers” ask a lot of questions about an elderly family’s finances. Fraudster like this will target elderly retirement areas, for a large pool of victims. They will often times use one person in the community to recruit others to get involved. Ponzi schemes are popular for the financial fraudster because typically one person in the community will get a “financial windfall” from joining in the Ponzi scheme which then pulls the rest of the retirement community in. Keep open communication lines open with your elderly family, as you help not only your own family but many others, says fraud expert, Linda Webb.

http://www.cbsnews.com/8301-500395_162-57414205/help-elderly-parents-fight-financial-fraud/

To report potentially fraudulent activity, contact The Fraud Dog at 1-855-FRAUD-DOG.

 

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