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Word Count: 1,087
Scam artists have always preyed on the gullible but in recent yearsmuch of the focus of these thieves has been on the elderly It is quite a wellknown fact that the elderly possess the greatest percentage of disposableincome with the least amount of debt Old people with money Scam artistsprey upon these people with unrelenting deception It is not a problem that willjust go away The problem must be analyzed and only then can we learnFirst we must analyze the different red flags which identify certain members of the elderly as targets for scams First off these older consumersare often living alone with no one else to watch their finances for them Beingalone they are often very appreciative and receptive of guests especiallythose who pay a visit even to sell them something which will be of benefit tothem or their homes They are also very receptive to anything promisingassistance to their health conditions or home repair requirementsScam artists also look at demographic numbers to choose their elderlytargets According to Jeanne Mackin an author for a consumer watchorganization 80 of people age 65 and over have at least one major healthproblem of some sort and spend a great deal of their monthly budget on healthcare And combine that with the fact that 71 of those people own their ownhomes of which many were built before 1950 and you have a combinationripe for fraud against the elderly 1Some examples of fraud against the elderly include - A city inspector arrives at the home stating he needs to check the plumbing furnace or wiring and when problems are found states that he will call a friend to make the repairs The work is overcharged and done poorly if at all- The older consumer receives in the mail newspaper clippings about a new health miracle product with a personal handwritten note saying Try this It works But when money is sent the product never arrives is overpriced or
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