Senior citizens continue to fall victim millions of time each year to scammers. Idaho’s top agencies are joining together this week to smack down scammers in a daylong conference March 29 in Twin Falls.
According to a June 2010 survey by Investor Protection Trust, more than 7.3 million senior citizens – roughly 20 percent of Americans aged 65 or older – have “been taken advantage of financially in terms of an inappropriate investment, unreasonably high fees for financial services, or outright fraud.”
As the population continues to age, those statistics will continue to grow, unless serious discussions are had with parents and grandparents. The Senior Scam Jam will address new financial scams and tips on how to avoid being a fraud victim. Seniors will also learn how to recognize and avoid exploitation that can jeopardize their financial future. The event will be in the Fine Arts Building on the College of Southern Idaho campus.
Having a serious conversation with your elderly parents about how they manage their finances is never easy. For many seniors, it has been their only responsibility since retirement, and they hold tightly to its management. But it is extremely important in order to help protect them from unscrupulous crooks.
By at least starting the conversation, it will help to establish the lines of the lines of communication. Keeping them open will help them to ask the right questions to prevent and identify suspicious spending habits, as well as educate your elder family members on recognizing the red flags of common cons.
The conference agenda is as follows: doors open at 8 a.m., conference times are from 9 a.m. to 3 p.m.; at 3 p.m. there will be a drawing for door prizes. The conference includes a complimentary lunch and refreshments. The full agenda is on the department’s website.
Register through AARP by calling toll-free 1-877-926-8300 or online. The CSI Office on Aging also offers registration by phone through March 23rd: 800-574-8656 or 208-736-2122.
The Department of Finance – along with sponsors that include the Better Business Bureau, the CSI Office on Aging, Idaho Department of Insurance, Senior Health Insurance Benefits Advisors (SHIBA) , the Idaho Commission on Aging, AARP, HUD, the Idaho Bankers Association, and the Attorney General’s Office – have joined together to offer this Senior Scam Jam Conference. The conference is primarily funded through a grant obtained by the Idaho Commission on Aging to provide financial and technical support to Idaho consumers in four Senior Scam Jam conferences planned in Idaho.