CRIME: AN EYE ON CRIME:
Too good to be true
You have just met a wonderful new friend on the Internet. He is the manager of a bank in Nigeria and has a problem with distributing unclaimed assets left in his bank. He needs to transfer these assets out of the country to tidy up his bookkeeping. If you will just give him your bank account number and your social security number, he will transfer $10 million to your account and let you keep $2 million as a commission for use of the account.
Financial fraud like this happens in more places than just the Internet, and the elderly are particularly vulnerable. A variation on the theme is informing you that you have won a valuable prize in a competition that you may not remember having entered.
All you have to do to claim the prize is to send money to cover the taxes, shipping and processing fees. Guess what? The prize may never arrive, or may be a piece of junk jewelry worth less than the money paid to ship it.
Another variation of the Nigerian bank scheme is the person who has won the lottery but has no bank account. He would like to use your account to deposit the $1 million winnings. He offers you $10,000 just for the use of your account. You agree, but because he will be entrusting you with $1 million, he wants you to give him a “good faith” payment of $1,000 in cash until everything clears through your bank. Good luck on ever seeing your $1,000 or the lottery winner again.
Another scheme is the free home inspection. First, never let anyone into your home unless you know the person or have made a prior arrangement with a reputable company to send someone to your house. Always insist on checking the identification of any worker who appears at your house. A woman was murdered in her Russian Hill home recently by someone posing as a PG&E worker. The person offering the free home inspection may identify a number of problems that allegedly should be addressed urgently. Typical items include roof repairs, waterproofing and pest control. The inspector will offer to perform the work at a very reasonable price. He will offer to start tomorrow and ask for a deposit so that he can buy the materials needed. After you give him the deposit, you may never see him again.
Many seniors are worried about having sufficient funds to pay for medical care or for funeral arrangements. That makes them especially vulnerable to unscrupulous sales people selling bogus insurance policies. Never commit to a significant financial undertaking without taking a few days to think about it and talk it over with people you know and trust.
Finally, remember that if it seems too good to be true – it probably is too good to be true.
Financial fraud like this happens in more places than just the Internet, and the elderly are particularly vulnerable. A variation on the theme is informing you that you have won a valuable prize in a competition that you may not remember having entered.
All you have to do to claim the prize is to send money to cover the taxes, shipping and processing fees. Guess what? The prize may never arrive, or may be a piece of junk jewelry worth less than the money paid to ship it.
Another variation of the Nigerian bank scheme is the person who has won the lottery but has no bank account. He would like to use your account to deposit the $1 million winnings. He offers you $10,000 just for the use of your account. You agree, but because he will be entrusting you with $1 million, he wants you to give him a “good faith” payment of $1,000 in cash until everything clears through your bank. Good luck on ever seeing your $1,000 or the lottery winner again.
Another scheme is the free home inspection. First, never let anyone into your home unless you know the person or have made a prior arrangement with a reputable company to send someone to your house. Always insist on checking the identification of any worker who appears at your house. A woman was murdered in her Russian Hill home recently by someone posing as a PG&E worker. The person offering the free home inspection may identify a number of problems that allegedly should be addressed urgently. Typical items include roof repairs, waterproofing and pest control. The inspector will offer to perform the work at a very reasonable price. He will offer to start tomorrow and ask for a deposit so that he can buy the materials needed. After you give him the deposit, you may never see him again.
Many seniors are worried about having sufficient funds to pay for medical care or for funeral arrangements. That makes them especially vulnerable to unscrupulous sales people selling bogus insurance policies. Never commit to a significant financial undertaking without taking a few days to think about it and talk it over with people you know and trust.
Finally, remember that if it seems too good to be true – it probably is too good to be true.
Alan Silverman is a Marina resident and a board member of the Marina Community Association. E-mail: [email protected]
