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Harry Weisner introduced our very own Bob Meroney, who gave us a very thorough description of trickery, the history and if there is any way to avoid scams. Scams date back to the early 300 B.C., using insurance fraud for boats not returning to Athens with goods – Bottomry.
In 2017 there were 16.7 million reports of fraud, identity theft or other means of deception. 70% of frauds are done with the telephone. The largest group duped by this means range in ages 20-29, but those over 70, only duped 18%, but with higher dollar amounts.
There are several means of deception, the Top 10 are: Imposters, Telephone, Prizes & promises of lottery winnings, Shop @ Home schemes, Internet, Foreign Money promises, Travel & Timeshare, Business or Job Opportunities, Advance payment for Credit, and Health Care. Several examples of these frauds were shared by Bob, including the Grandparent Scam, of the grandchild calling and needing money immediately to avoid trouble.
What can you do to eliminate vulnerability? Sorry, nothing. Be alert, be cautious. And don’t give out information to anyone that you may have concerns about. Always hang up and call your own contacts for whoever has just called you or emailed you.