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Telemarketing fraud is big busi- / ness in the United States, with billions of dollars lost by consumers. Everyone is at risk, but the elderly are often singled out as targets for fraudulent telemarketing. Although they represent only 12 percent of the population, people 65 and over are victims in over 30 percent of the scams.
There are several reasons why older people are often victims. They are frequently at home to answer the phone. They are often willing listeners, or too polite to hang up in the middle of a conversation. People over age 65 are considered “treasure to loot” in the eyes of con artists because they own between 50 and 75 percent of all financial assets in the United States.
There are several sure signals which indicate a caller is not legitimate. The product may change, but these often used ploys are definite tip-offs that consumers need to exercise caution, or better yet, just hang
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