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Question: How can I give my mother information about phone scams without
undermining her warm and friendly personality?
Answer: Tell your mother about some of the fraudulent schemes designed to
separate us from our money! Together, talk about ways to tell legitimate offers from
dishonest ones.
The Federal Trade Commission estimates that fraudulent telemarketers swindle
Americans out of more than $1 billion each year. Here are some examples of offers to
turn down:
- A caller offers you a free prize or travel opportunity, but you must read off all of the
numbers at the bottom of your check. The scam artist puts this information on a demand
draft that is processed like a check but doesn't require your signature. You won't find out
about this until you receive your bank statement.
To protect yourself: Under no circumstances give your checking account
information to someone you don't know or who calls you.
- You are offered a no-risk opportunity to hit it rich with investments such as coins,
gemstones, interests in oil wells and gold mining operations, oil and gas leases, and gold
and silver. You're told you were specially selected to get in on one of these limited
numbers of great deals. The caller tries to convince you of the urgency of deciding
immediately and asks that you transfer thousands of dollars into an account to activate the
investment.
To protect yourself: Initiate investments only with individuals or companies that
you know.
- Another popular scam is to question the safety of your drinking water to get you to buy
a water treatment unit. Although the water in some parts of Colorado may need treatment,
Fort Collins water does not.
To protect yourself: Don't let someone you don't know come to your home to
demonstrate a free home water test. Do business only with reputable firms.
Make a deal with your mother to call each other if someone calls with an
"interesting" offer. A scam artist will probably not call back when they hear that your
mother is not going to fall for the scam on the phone. At the same time, it doesn't hurt to
practice how to politely say "no thanks."
For more information, contact your local
Colorado State University Extension office.
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