Tag / scam alert

by The Seniors Center

What You Need to Know About Crypto Scams

crypto scams
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Cryptocurrency has taken the world by storm. This digital currency is not only popular, but it is also highly volatile and subject to fraud. Seniors are particularly vulnerable when it comes to crypto scams, as they may not be as tech-savvy or financially literate as younger generations. It is important for seniors to understand the risks associated with investing in cryptocurrency, as well as the signs that they may have fallen victim to a crypto scam.

What Is Cryptocurrency?

According to the FTC, cryptocurrencies are digital assets that can be used to store and transfer value. They are not backed by any government or central banks, which makes them attractive to investors looking for an alternative investment option. However, this lack of government oversight also makes them vulnerable to fraud and other risks.

How Crypto Scams Work

Crypto scams come in many forms, and they often target seniors. Signs of scams can include:

  • Someone is demanding payment in crypto for goods or services.
  • Someone is promising a guaranteed return on your crypto investment.
  • You are asked to provide personal information that could be used to steal your identity
  • Someone is pressuring you to invest quickly in a “limited time” offer.

If you encounter any of these signs, it is important to be aware that you may have encountered a crypto scam.

The Seniors Center Blog is here to help you stay informed about potential scams. If you haven’t yet, be sure to follow The Seniors Center on Twitter and Facebook so you never miss a post!

by The Seniors Center

Don’t Let Scams Ruin Your Holidays—Take This Quiz to Test Your Knowledge

holiday scams
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Did you know that scams can spike during the holidays?

During the holiday season, when people are feeling generous and looking for ways to help others, scammers can take advantage of this kind of generosity. As many as three-quarters of Americans have been targeted by a scam that’s connected to the holidays at some point.

These scams can include online fraud, fake charities, and even identity theft. It’s important to stay vigilant and protect yourself from these kinds of predatory activities.

How to Spot Holiday Scams

Unknown numbers, gift cards that have been tampered with, and shady charities are some of the biggest red flags associated with holiday scams. However, knowing what to look out for can be difficult, especially with the prevalence of online scams.

AARP has put together a helpful online quiz that will test your knowledge of holiday scams. The quiz covers topics like phishing, check fraud, and other factors that can help you identify potential disasters before they have a chance to affect you.

For example, can you always trust ads for items you see on social media? Will retailers like Amazon ever ask for your login info over the phone? Knowing the answers to these questions can help you stay safe from scams during the holidays.

The Seniors Center Blog Can Help You Stay Safe for the Holidays

We hope you enjoy this holiday season—and stay vigilant against scams! At The Seniors Center, you’ll find helpful advice on how to stay safe. From avoiding impostor fraud to recognizing questionable charities, our blog has all the info you need to stay safe during the holidays.

Learn more by following us on Twitter and Facebook today!

by The Seniors Center

Hear a Nashville Senior’s Story About Scam Artists

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When you reach out to a financial advisor, you expect to be taken care of. But one Nashville senior was scammed out of thousands by someone she thought she could trust.

How This Senior Scam Worked

This woman’s senior scam story begins with a man handing out AARP information. According to WKRN.com, this man told a Nashville woman, Paula Gilmore, that he could help her with her finances and manage her money.

She believed him—he seemed credible. However, over the next 10 years, she handed him close to $230,000. But instead of investing it, he was pocketing it for himself.

According to Gilmore’s daughter, the man would open up her mail and even write checks from her own account to pass off as dividends. In reality, he was just cashing them and taking the money for himself.

Eventually, the FBI caught up to the scam artist. However, the damage was done.

Staying Safe from Fraud and Scams

Consult others before making any decisions about your finances, especially if someone you don’t know approaches you.

At The Seniors Center, we understand how important your financial security is. We’re working to help seniors stay aware of the latest scams so they can protect themselves. Follow us on Twitter and Facebook so you never miss a post!