Tips to avoid scams that target senior citizens - WAFF-TV: News, Weather and Sports for Huntsville, AL

Tips to avoid scams that target senior citizens

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If you or someone you know is a victim of fraud, report it by calling the Alabama Securities Commission at 1-800-222-1253. If you or someone you know is a victim of fraud, report it by calling the Alabama Securities Commission at 1-800-222-1253.
BIRMINGHAM, AL (WBRC) -

During the holidays, the number of elder fraud claims in Alabama spikes.

In an effort to protect potential fraud victims, a town hall meeting was held in Mountain Brook where about 50 people had the chance to hear about scams that target senior citizens.

Joseph Borg, Director of the Alabama Securities Commission, provided the group with information about services available.

"Senior citizens have equity in their house, money in the bank and that makes them targets...prime targets," he said.

Representative Paul Demarco says lawmakers are working to address a growing problem.

"Alabama is in the top 15 when it comes to ID theft according to the Federal Trade Commission. The issue needs to be addressed. We need to help seniors and keep them from being victims," he said.

The town hall meeting also offered these tips for senior citizens:

Beware of strangers

-You do not have to stay on the phone with a stranger or allow a stranger into your home.

Investigate investment opportunities

-Do your research before investing with a company.

Be in charge of your money

-Don't put your money in something you don't understand.

Report fraud or abuse

-If you feel that you are a victim, don't be embarrassed, report what happened to the Alabama Securities Commission at 1-800-222-1253.

Copyright 2012 WBRC. All rights reserved.

 

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