Fraud Alert!

A Not-So-Funny Guide to Keeping Your Money (and Dignity) Intact, pt. II

I promised to serve up a second course of Fraud Alerts and here it goes…In a world where scammers work harder than most of us do at our day jobs, seniors have become the prime targets for these entrepreneurial criminals. Let’s explore the latest schemes designed to separate you from your hard-earned retirement funds.

The “Government Agent” Who Desperately Needs Gift Cards - Nothing says “legitimate federal operation” like a government agent demanding payment in iTunes gift cards. These scammers impersonate IRS agents, Social Security Administration officials, or Medicare representatives, claiming you owe money or are entitled to benefits if you just verify your personal information and pay a small fee. Pro tip: Always look for the appropriate end to an email or web address. For example: IRS.gov is the real deal. TrustusprettypleaseIRS.net isn’t going to get you to the same place.

Defense Strategy: No government agency accepts gift cards as payment. None. Ever. The IRS doesn’t take Amazon cards, Medicare doesn’t want Google Play credits, and Social Security won’t ask for your Apple ID. And they definitely don’t call with threats of immediate arrest. In fact if you receive communication from the IRS by any other means than snail mail – look out!

The “You’ve Won!” Winners Who Want You to Pay for Your Prize – Congratulations! You’ve won a contest you never entered! All you need to do is pay the taxes/processing fees/shipping costs upfront. The latest versions of these scams even create fake online publishers clearing house websites with your name featured as the big winner.

Defense Strategy: If you have to pay money to get money, you’re not winning – you’re shopping. And in this case, you’re shopping for disappointment and regret.

The QR Code Confusion Campaign – Those little square barcodes are everywhere now, and scammers have caught on. They’re sending physical mail with QR codes claiming to be from your utility companies, banks, or government agencies. Scan the code, and you’re directed to a convincing but fake website designed to steal your login credentials or payment information.

Defense Strategy: Never scan a QR code from an unsolicited communication. Instead, open your web browser and manually type in the official website address or use their official app.

The Final Word: Laughter is Good Medicine, But Vigilance is Better – While we’ve had our chuckles, financial fraud targeting seniors remains a serious issue costing billions annually. The best defense is a healthy dose of skepticism and the mantra: “When in doubt, hang up/delete/walk away.”

Remember, legitimate organizations don’t pressure you for immediate decisions, demand unusual payment methods, or need to verify information they should already have. And your real grandchildren know to call you back when you say, “Let me call you on your regular number, sweetie.”

Stay safe out there, and keep your sense of humor – just not your credit card – at the ready. I’m just here looking out for you. And I’ll be back next month with more. Till then, stay smart and safe!