How Senior Citizens Can Avoid Investment Fraud and Abuse Senior citizens are the number one target of investment con artists. The files of state securities agencies are filled with tragic examples of senior citizens who have been cheated out of life savings, windfall insurance payments, and even the equity in their own homes.
Illegal telemarketing is a crime, and fraudulent telemarketers are criminals.
There are an estimated 14,000 illegal telemarketing operations bilking thousands of victims every day. Additionally, surveys by the American Association of Retired Persons indicate that over one-half of those victims are age 50 or older. Fortunately, such victimization can be avoided by following 10 self-defense tips . It is hard to tell if a caller is legitimate. Successful con artists sound extremely professional and have the ability to make even the flimsiest investment deal seem as safe as putting money in the bank.