Better Business Bureau issues international fraud alert

According to the BBB, elderly people – often minorities – are responding to mailbox flyers offering loans for home repairs. They don’t realize the loans have a 19 percent to 21 percent interest rate. The contractor later convinces them to sign a “work has been completed” form and disappears without performing the repairs.

On the West Coast, an elderly woman reported that she was charged $900 to have her circuit breakers “cleaned.”

Seniors also are vulnerable to scams involving door-to-door sales, telemarketers and foreign lotteries or sweepstakes, and health-related schemes.

“Con artists consider seniors to be easy prey and choose their entryway accordingly: the telephone, the front door bell or the mailbox,” said Steve Cole, president and CEO of the Council of Better Business Bureaus, in a news release.

The BBB recommends a three-pronged approach for family members, neighbors and friends to protect elderly citizens against all types of fraud.

First, check with the BBB about any suspicious visits, mail or phone calls, and particularly, before giving money or personal or financial information to individuals or organizations.

Second, protect personal information. Social Security cards, for example, should never be carried in a wallet or purse. Account numbers or passwords also should be kept private from unknown parties.

Third, use measures such as the National Do Not Call registry or “No Solicitation” signs as a line of defense against fraud. Other defensive measures include helping elderly individuals sort their mail and discouraging them from sending money in response to offers that seem too good to be true.