DON’T LET SCAMMERS GET YOU DOWN Protect Yourself and Your Money
According to a recent survey by the American International Group (AIG), a majority of Americans over the age of 65 don’t know much about the myriad financial scams circling the globe. Reports show that ignorance of these scams has proven costly for the 65-plus crowd, who are the most frequently targeted demographic. Is It Love? One common shakedown taking seniors and retirees for a ride is the online romance scam. As part of it, a person poses as a potential date or romantic partner and engages in a fake relationship with the victim. The scam usually starts with an online or web-based dating service and progresses to texting or talking over the phone, but it always stops short of an in-person meeting. Instead, after the scammer has gained the trust of their victim, they’ll claim there’s been some kind of emergency for which they need money fast. The clueless victim usually offers to wire them the money. In many cases, the scammer will continue asking for money for as long as they can get away with it. Then, once the victim figures they've been bamboozled and try to retaliate, the scammers vanish — off to find their next target. Would you like to be a Campbell Wealth Management Ambassador? Would you like access to exclusive CWMAmbassador events?
Did You Pay? Another prevalent rip-off is the invoice scam. Again, AIG reports that about 57% of people aged 65-plus aren’t familiar with this sham. In most cases, the victim
receives a phone call or email from a representative of a local company, who says they still owe money for a bill or service. For example, the scammer may tell the victim they owe an overdue $50 for their power bill. If the victim says they’ve already paid, the scammer might respond, “Your payment didn’t process correctly.” The crook’s job is to get the victim to relent and pay up. Then, once they’ve been paid, usually via credit card number or wire transfer, the scammer once again vanishes along with a significant portion of someone’s bank account. Scammers want your money, but if you are aware of today’s hustles, you can better protect yourself and your assets. Luckily, AIG also found that nearly 92% of the 65-plus crowd now ignores phone calls, texts, and emails that request personal information, and 89% of these folks say they avoid clicking links from unknown senders. Be vigilant and remember that if someone calls you and demands personal information over the phone or asks you to wire money, there’s a very good chance it’s a scam.
Upcoming Events
Taxes in Retirement Tuesday, Feb. 11 at 1:30 p.m. or Thursday, Feb. 13 at 6:00 p.m. Fairlington Community Center
3308 S Stafford Street Arlington, VA 22206
All you have to do is refer a friend. Do you know someone who: • Wants to be better prepared for retirement? • Is looking for a second opinion regarding their portfolio? • Has gone through a major life event (death of a spouse, retirement, etc.)? Call us at ( 571) 800-6371 and let’s set up an introduction! If they are important to you, they are important to us.
Retirement Planning Workshop Thursday, Feb. 20 at 1:00 p.m. or 6:00 p.m.
Sherwood Regional Library 2501 Sherwood Hall Lane Alexandria, VA 22306
Call Us Today (703) 535-5300 • 3
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