Don't Let Scammers Steal a Lifetime of Savings

DEWITT, Mich. - Nov. 4, 2018 - PRLog -- Did you know that fraud and financial abuse schemes targeting older adult investors cost victims at least $2.9 billion annually?* If you've worked a lifetime to provide for yourself and your family, don't let a scam artist steal it from you. How can you help protect yourself?

Know the fears con artists prey upon

• Finances – Some retirees worry about whether they'll have enough money. Fraudsters may pitch their schemes as a way to increase financial security – but only if you act immediately. In addition, you should never have to pay money to get money – lottery and sweepstakes scams thrive on the money their victims pay to cover taxes, shipping and other bogus fees.

• Relationships – Be wary if someone initiates an online relationship but then asks for money. If a caller claiming to be a grandchild says he or she is in trouble and needs money wired immediately, hang up the phone and confirm the call separately.

Take your time

Fraudsters want you to act quickly so that they can steal from you and then move on to their next victim. Even if a caller or letter appears to be from a legitimate agency or company, take the time to check out the situation independently before you pay money or give out personal information.

Investigate before investing

Be wary of investments that offer big returns for little or no work. Conduct your own research by understanding the investment's risks and the company's history. Talk to family or friends before making important decisions regarding your finances.

Important Information

If you believe you've been the victim of fraud involving your Edward Jones accounts, contact your financial advisor right away. For more information on fraud, visit our fraud awareness and prevention site or the Federal Trade Commission's site at www.ftc.gov.

*Source: U.S. Department of Justice.