The Timeshare Reselling Scam – How To Protect Yourself
Here we go again! Twice in the past week, we’ve been advised by the Federal Trade Commission of new scams being perpetrated against senior adults. This one is the timeshare reselling scam.
Many seniors, and also middle age adults bought a timeshare to spend vacations there or as an investment. After a few years, timeshare owners wanted to visit new places and some traded their unit with someone else in a different location. Others kept them because there wasn’t much of a market for them.
Many others wanted to dispose of their timeshare and listed it with a broker. Now enters thescam artistwith their bag of tricks. They began telemarketing timeshare owners saying that they had a buyer in mind and that the sale would be consummated very quickly.
Just When You Thought You Heard About Every Scam – Enter The Secret Shopper Scam
I call this one the “secret shopper scam”. Stores hire individuals to pose as a shopper to test employees knowledge of certain products or services, and also to see how a particular service is functioning.
It didn’t take long for scammers to figure out this could be a very profitable con. They simply revived a similar scam and adapted it to the secret shopper. The Federal Trade Commission has picked up on this and has reported a number of cases it is aware of lately.
This particular con begins in a very subtle way. You pick up your mail and find an important looking envelope, and when you open it, you see a check for several thousand dollars payable to you. A letter of instructions is enclosed and it states that you are being offered a job as a secret shopper.
3 Scams Against the Elderly They Need To Be Aware Of
Criminal scams against theelderly continue to be prevalent despite repeated warnings by many agencies. As a rule, scammers have no morals, and are willing to take whatever they can from the elderly. Most seniors are too trusting and are willing to help those in need and scammers count on that and govern their pitches accordingly.
There are three (3) cruel scams that we will discuss here that continue to be perpetrated against senior adults. Many others exist, but these three are the most prevalent. They are:
In part 1 of these two posts of the most common types of scams perpetrated on seniors, we covered the Cemetery & Funeral Scam, Counterfeit Prescription Drugs, Fake Anti-Aging Products, Healthcare Fraud, Medicare Fraud, and the old Pigeon Drop Scam. In Part 2, we are listing 5 additional scams that are among the more popular ones. These 10 scams mentioned here are by no means all inclusive, as these unscrupulous individuals create more as situations change.
6. The Fake Accident
This one is fairly much self explanatory, and is similar to the Grandparent scam. An elderly individual is contacted, usually by telephone, and is told that one of her children or a grandchild has been View full post…
During the past few years, senior adults have been the primary target of various financial scams, to such extent, that it’s been suggested that this is the major crime of the 21st century. For some reason, con men and women have the mistaken idea that seniors are all wealthy, and have large sums of money at their disposal.
Unfortunately, this is rarely the case. With the economy in terrible condition, plus the recessions that we have suffered, many seniors have seen their nest egg dwindle to practically nothing. As a matter of fact, many have had to take on part time jobs just to make ends meet. So when some con is perpetrated on a senior adult, it can be a truly devastating crime.
These individuals who practice these scams don’t seek out only wealthy individuals. Their lack of morals causes them to approach any senior citizen and to find a way to take their money. Many times, these types of crimes go unreported because the victim is too ashamed to tell their family about it.
In these current times, many low income senior adults are targeted as well. To make this crime even worse than it actually is, it’s not always a total stranger who commits this crime. Statistics have revealed that over 90% of scams committed against the elderly, are perpetrated by their adult children, and other family members. What a disgusting, repulsive act to commit against a loved one.
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