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Understanding Phone Scams

We have all heard that elders are susceptible to financial scams over the telephone, but often it is hard for a younger person to understand how someone falls for a scam from a stranger. The November, 2015 issue of Consumer Reports breaks down how a telephone scam works, in addition to other informative articles on elder financial abuse. The article "Anatomy of a Swindle" explains how the Jamaica Lottery scam targets and exploits its elderly victims by phone. The process is likely similar in other phone scams where elders are told they won something, but have to pay to get it. Click here to read the article: http://www.consumerreports.org/cro/consumer-protection/anatomy-of-a-swindle

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