As Medicare Rolls Out New Cards, Fraudsters Roll Out New Scams

If you are one of America’s 55 million Medicare beneficiaries (or, if someone in your life is), you need to know about a big, POSITIVE change coming. Starting this month, the U.S. government is mailing out new Medicare cards that have been redesigned to help prevent identity theft. New enrollees will be among the first to get the cards. Current enrollees will get theirs over the next year. The biggest change you’ll notice is that your Social Security number will …

AARP Launches Podcast Series: ‘The Perfect Scam’

Last week, AARP announced the launch of “The Perfect Scam”, a weekly podcast profiling America’s most shocking consumer scam stories. View AARP’s release for more details on the launch, host bios and creation of the podcast series. Check out the 12-episode series, including the first segment below. Episode 1: The Grandparent Scam Richard is a retired journalist who receives a call from someone claiming to be his grandson in jail. The young man on the other end of the line …

Study: Financial Exploitation Connected to Brain Changes in Healthy Older Adults

Older adults with otherwise healthy brains sometimes develop biological changes that could put them at risk for financial exploitation, according to a study published earlier this year by researchers from Cornell and York universities. Previous studies had identified a link between brain disease (mild cognitive impairment, Alzheimer’s disease ) and increased risk of financial exploitation, but this is the first study to look for biological risk factors among otherwise healthy adults who are aging normally.   What the Study Reveals …

New FINRA Rules Provide Big Benefits in the Fight Against Financial Exploitation

The fight against the financial exploitation of older Americans is about to get a whole lot easier.   The 50+ are prime targets of financial exploitation because they own 67 percent of U.S. bank deposits – and because factors including health status, cognitive ability, and social isolation can make them more vulnerable. Beginning February 5, the Financial Industry Regulatory Authority (FINRA) will enact a pair of rules that will provide brokers with additional tools to protect their older clients and …

New Fraud Watch Network Campaign Informs Americans About Social Media Scams

Today, we unveiled a new Fraud Watch Network campaign to inform Americans about social media hazards and provide information about how consumers can protect themselves and their loved ones. While roughly 70 percent of Americans regularly use social media, according to the Pew Research Center, many aren’t aware of these new types of scams. We understand that scammers have been using email and telephone calls to target unsuspecting victims for years. But con artists are just as likely to use Twitter, …

“Smishing” Self-Defense: How to Prevent Trouble That Comes in Text Messages

Each day about 20 billion text messages are sent to 2 billion smartphone users worldwide. Most of these texts are opened within three minutes, and many within a few seconds. The massive number of text messages and their rapid-fire response rate (by comparison, only one in four email messages are opened within 10 minutes of arrival) amount to an unbridled opportunity for fraudsters exploiting the du jour device for deception: the handheld computer that also happens to make phone calls, …