Cynthia Grove is a volunteer AARP Maine Fraud Fighter. AARP Maine is currently seeking volunteers
who would like to give presentations in their own communities.
Don’t Let the Next Victim
of Fraud be You: Learn to Keep
Your Money Safe
Jane Margesson AARP Maine Communications Director
It is a sad fact that older adults in Maine are increasingly
the target of financial exploitation. In fact, financial
industry research indicates that most investment fraud
victims are between 55 and 65 years of age. Many older
adults have sound finances and a solid credit history,
making them a prime target for thieves. It is also not
uncommon for older adults to live alone which can make
them even more vulnerable. For this reason, thieves may
design their schemes to manipulate older adults.
One of the most prevalent and destructive forms of
financial fraud is called Identity Theft. Identity theft
occurs when someone uses your personal information
such as your Social Security number, your credit card
number, or your bank information to get credit or
make purchases for themselves in your name. Victims of
identity theft not only risk losing money but may also
face difficulty getting credit or loans. It can take years to
reestablish your credit rating.
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WINTER 2015
Scam artists are also experts at fabricating stories in an
effort to solicit personal information. You may have
heard about schemes such as the “grandparent” scam
where fraudulent calls are made to consumers regarding
a grandchild who is in financial trouble or even in jail.
These schemes use victims’ emotions against them so they
are too distracted to question the validity of the stories.
Another common scheme is the “get rich quick” scam
where fraudsters claim that you have won the lottery and
are entitled to a huge payout.
These scammers are creative and relentless. They will
stop at nothing to separate you from your hard-earned
money. AARP Maine is actively working with the Office
of the Attorney General, legislators, community leaders
and volunteers across the state to deliver presentations,
disseminate information and raise awareness about con
artists’ tricks and how we can work together to spot
fraud. One question I am often asked is “why do so