Because the Harris Firm has handled a number of investment fraud cases, we try to pass along information that may be helpful to you and your family members when it comes to money.
The Dallas Morning News recently published a story about Christopher Bianez, an officer with the Plano Police Department’s Crime Prevention Unit. Much of his work is dedicated to speaking to seniors about protecting their money from scams.
Bianez listed a number of important tips for seniors – as well as their family members – to keep in mind when it comes to scams, money, and staying safe.
1. Stay in Touch
Install a Ring doorbell system and if they’re not tech savvy, monitor it from your phone. Keeping in touch is also key. Scammers prey on the elderly because they are often isolated and may be lonely. Having a consistent presence in their life can make a world of difference.
2. Report Suspicious People to Police
If someone knocks on your door, then claims they have the wrong door, call the police. As Officer Bianez says, when was the last time someone actually ended up at the wrong door? With GPS and Google maps, it’s more and more unlikely. Do not be afraid to call the police.
3. Question Payments Involving Gift Cards
Payments made in gift cards cannot be traced, making it a favorite method for criminals. No jail accepts bond payments in gift cards. The IRS does not accept payments in the form of gift cards. According to Bianez, “No legitimate business demands payment in gift cards.”
4. Avoid Repair Scams
Need a repair for your home? Find a repair service or handyman via trusted sources. Do not hire anyone who shows up at your door.
5. Be Careful with Social Media and Dating Apps
Scammers tend to focus on older women, especially those who are widows. Once an online romance begins to blossom, watch out for a request for money. Bianez says, “The big warning sign is when you start to hear a hard luck story … that’s when you need to run the other way.”
Our parents and other family members have worked hard for their retirement. There is nothing worse than reading a story about a life’s saving being wiped out due to a scam. Talk to your family members about ways to avoid being scammed. Keep in touch and be a resource to them.
And if Officer Bianez is speaking at a senior center near you or your family, be sure and attend. There’s a reason the Texas Crime Prevention Association named him Outstanding Crime Prevention Specialist in 2017.
At the Harris Firm, we urge everyone to stay alert and don’t hesitate to contact local law enforcement if you think you are being scammed. Remember: when in doubt, don’t.
