Two scams targeting seniors: Don’t turn into a victim

Unfortunately, the word “fraud” has turn into too common in today’s world. A fraud is the act of a dishonest person or organization to cheat someone out of something, normally money. Search common scams and you’re going to get results pages. I discovered a web site that lists 21.

However, missing from the list are two scams that it’s possible you’ll not have heard of, but which have gotten increasingly common. Two recent situations in my life illustrate why I imagine the character of those scams makes older people particularly vulnerable.

Emptying the gift card

I went to dinner with a member of the family. He doesn’t have any bank cards and has learned to hold enough money due to a recent incident.

He received a present card to his favorite restaurant. When the check got here, he presented the cardboard. He was shocked when the waiter returned and informed him that the balance was zero. He had just scratched off the PIN cover label.

My relative was a victim of gift card withdrawal and unfortunately he is just not the just one. An AARP survey found roughly One in 4 Americans have given or received a present card with no balance.

Voiding a present card occurs when a thief steals a present card, obtains the number and security code, reseals it in order that the alteration is just not visible, and returns the cardboard to the shop display. When the recipient then prompts the cardboard, the fraudster can withdraw the cash from them. When paying a bill with the cardboard, the unsuspecting victim discovers the fraud. It is unlikely that these victims will ever get any of this a reimbursement.

Personal experience tells me why seniors are more vulnerable to this scam. What can we get grandma or grandpa for his or her birthday? How a few gift voucher for a cinema, a restaurant, a beauty salon or a hairdressing salon? And what do grandparents give their grandchildren? Gift cards to your favorite music or gaming system are a better alternative than wandering around a mall in search of the suitable gift.

How are you able to avoid this scam?

• Buy e-gift cards. Downloading and printing the cardboard means the fraudster cannot get to the cardboard first and scratch off the code. Almost every company that provides physical gift cards sells them online. I even discovered a couple of corporations that only sell virtual cards.
• Purchase gift cards which can be kept behind a counter if purchasing online is just not possible. A thief wouldn’t find a way to get to this display.
• Purchase a present card with a bank card. There could also be a chance to receive a refund if the water runs out. However, this does not help seniors like my relative who haven’t got a bank card.

Check washing

I waited in line to envision into my doctor’s office. The older gentleman in front of me pulled out his checkbook to pay his bill. However, the patient services representative said the system not accepts checks on site. When he asked how he should pay the bill, she said he could use a bank card. “Never had one,” he replied. So she said they’d send him a replica of the bill and he could mail in a check.

Sending a check within the mail opens the door to a fraud called check laundering. A fraudster steals a check from a mailbox and washes it with chemicals to remove all information except the signature. Then, when the funds are dry, the fraudster writes a brand new payee name and a dollar amount and fraudulently deposits it right into a checking account or collects money at a check cashing store.

Postal inspectors will recuperate greater than $1 billion in counterfeit checks and money orders yearly. And The Better Business Bureau claims that check washing causes over $815 million in losses to non-public individuals, corporations and financial institutions per 12 months. But who knows if the victim will ever see any of the cash again?

Since older people may not have bank cards and aren’t comfortable with online payments, they’re in danger. So, Here are a couple of suggestions from the postal service to guard against check laundering.

• Reconsider using checks. If possible, pay bills by bank card or online.
• Use a gel pen when writing checks because it makes it harder for fraudsters to clean off the ink. Some pens even claim that their ink protects against check washing.
• If it is advisable to mail a check, drop it on the post office or in a USPS blue collection box shortly before final pickup. Scammers have been known to steal mail from mailboxes.
• Don’t put checks in your mailbox with the red flag facing up, as this could be a green light for scammers.
• If you expect a check, pick up your mail immediately after it’s delivered.
• Never leave your mail within the mailbox overnight.
• If you are happening vacation, have the mail held at your local post office or ask a trusted neighbor to choose it up for you.

As our methods of communication, shopping, bill paying, web browsing, whatever, evolve, you may ensure that opportunists may also refine their fraud methods. However, knowing what is occurring and taking some steps to guard yourself will minimize your risk of becoming a victim.