Ever get those invitations for a free financial seminar at a restaurant? "Nothing will be sold - we only want to educate you on your financial future," is the typical pitch. Most specify that "financial professionals may not attend." However, I recently received one that didn't exclude me, and decided to see what I might learn about my financial future. Here's my experience and what you need to know.
The scam is sometimes deceptively simple, as easy as stealing a credit card offer from your trash. Other times it can be far more complex, like the infamous con preying on worried grandparents. No matter the form, the impact is devastating. Identity theft, investment fraud and scams rob millions of Americans - last year there were 12.6 million victims of identity theft alone.
This week, the Obama administration announced a comprehensive, interagency initiative to fight fraud, prevent privacy violations, and protect consumers in the Health Insurance Marketplaces. AARP applauds this effort, and we encourage the administration to continue to take steps to protect and defend consumers from unscrupulous practices - especially people under the age of 65 who will soon be eligible to sign up for the marketplaces. Unfortunately, we know that there are scam artists who will try to take advantage of Americans as the major provisions in the Affordable Care Act (ACA) are rolled out - including illegally soliciting personal information or money.
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