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If you are a senior
citizen you
may be a special target of those selling bogus products and services. It's easy
enough to fall prey. Telemarketing fraud is a multi- billion dollar business in
the United States. Every
year, thousands of consumers lose from a few dollars to their life savings to
telephone con artists. To
protect yourself when you get a sales offer by phone, follow these simple rules:
Legitimate businesses
that sell by phone understand this. Remember: most people who lose money in
telemarketing scams never see a penny of it again. HOW
OLDER PEOPLE BECOME VICTIMS Of Telemarketing Fraud Fraudulent telemarketers
try to take advantage of older
people who may be more trusting and polite toward strangers. Older women living
alone are special targets of these phone calls. Here are some of the reasons
people become victims of telemarketing fraud.- (a) Often it's hard to know
whether a sales call is legitimate. Telephone con artists are skilled at
sounding believable - even when they're really telling lies. ( b) Sometimes
telephone con artists reach you when you're feeling lonely. They may call day
after day - until you feel it's a friend, not a stranger, trying to sell you
something. (c) You may find it hard to get salespeople off the phone - even if
they’re selling something you're not interested in. You don't want to be rude.
(d) You may be promised free gifts, prizes, or vacations - or the
"'investment of a lifetime"- but
only if you act "right away." It may sound like a really good
deal. IN FACT, TELEPHONE CON
ARTISTS ARE ONLY AFTER YOUR MONEY: DON'T
GIVE IT TO THEM COMMON
TELEPHONE Scams Con artists are always developing new scams. Here are some
common ones: PRIZE OFFERS: You usually have to do
something to get your "free" prize - attend a sales presentation, buy
something, or give out a credit card number. The prizes are generally worthless
or overpriced. TRAVEL PACKAGES: "Free" or
"low- cost" vacations can end up costing a lot due to their hidden
costs. Or, they may never happen. You may pay a high price for some part of the
package - like hotel or airfare. The total cost may run two to three times more
than what you'd expect to pay or what you were led to believe. VITAMINS AND OTHER HEALTH PRODUCTS:
The sale pitch also may include a prize offer. This is to entice you to pay
hundreds of dollars for products that are worth very little. INVESTMENTS: People lose millions of
dollars each year in "get-rich-quick" schemes that promise high
returns with little or no risk. These could include gemstones, rare coins, oil
and gas leases, precious metals, art, and other investment opportunities."
These turn out to be worthless or worth much less than what you paid. CHARITIES: Con artists often label phone
charities with names that sound like better known, reputable organizations. They
won't send you written information or wait for you to check them out with
watchdog groups like those listed later under "For More Information." RECOVERY SCAMS: If you buy into any of the above scams, you are
likely to be called again by someone promising to get your money back. Be
careful not to lose more money in this common practice. Even law enforcement
officials can't guarantee to recover your money. TIP-OFFS
Telephone con artists spend a
lot of time polishing their 'lines" to get you to buy. Here are some of
them: (a)
You have to act "now" - or the offer won't be good. (b) You've won a "free" gift, vacation, or prize and you
pay "only" for "postage and handling" or other charges. (c)
You must send money, give a credit card or bank account number, or have a
check picked up by courier - before you've had a chance to carefully consider
the offer. (d) You don't need to check out their company with anyone -
including your family, lawyer, accountant, local Better Business Bureau, or
consumer protection agency. (e) You
don't need any written information about their company or their references. (f)
You can't afford to miss this "high- profit, no-risk" offer. If
you hear these - or similar - lines from a telephone salesperson, just hang up
the phone. WHAT
YOU CAN DO TO PROTECT YOURSELF
It's
very difficult to get our money back if you get cheated over telephone. So,
before you buy anything by telephone, remember: (a) Don't buy by phone from unfamiliar companies. (b)
Legitimate businesses understand when you want more information about their
offer or company. (c) Always ask for
and wait until you receive written material about any offer or charity. If you
get brochures about expensive investments, ask someone whose financial advice
you trust to review them. (d) Always
check out unfamiliar companies with your local consumer protection agency;
Better Business Bureau, state Attorney General, the National Fraud Information
Center or other groups listed later under "For More Information."
Unfortunately, not all bad businesses can be identified through these
organizations. (e) Always take your
time in making a decision. (f) Never
respond to an offer you don't thoroughly understand. (g)
Never send money or give out your credit card or bank account number to
unfamiliar companies. (h) Be aware
that any personal or financial information you provide may be sold to other
companies. Legitimate
companies won't pressure you to make a fast decision. It's never rude to wait
and think about an offer. Be sure to talk over big investments offered by
telephone salespeople with a trusted friend, family member, or financial
advisor. FOR
OTHER HELP, CONTRACT
Federal
Trade Commission Correspondence Branch 6th and Pennsylvania
Avenue, NW Washington, DC 20580 202-326-2222, TDD: 202-326-2502 Your
comments help in its law enforcement efforts. For a list of more than 100 free
publications on telemarketing fraud and other consumer issues, write
for a copy of Best Sellers, Public
Reference, FTC, Washington, DC 20580. Office of Attorney
General Bureau of Consumer Protection 14th Floor, Strawberry Square Harrisburg,
PA 17120 Toll-Free
Consumer Hotline: 1-800-441-2555 Ó 2000 James
W. Pearson, Jr., All Rights Reserved FOR ADDITIONAL INFORMATION CALL THE TOLL FREE HELP LINE 1-800-232-1477 E-mail: lawyer@lawwalk.com JAMES
W. PEARSON, JR. Chair of the Federal & State Credit Union Department & Coordinator of legal consultations under the Family Legal Care Plans offered to credit union members. |
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