Financial Exploitation Schemes

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Financial Exploitation Schemes

Anybody can be the victim of a financial scam. Many people, of different age groups have lost money to the 419 among other schemes. Seniors over the age of 65 are particularly vulnerable to many kinds of financial exploitation. Their condition and vulnerability are some of the things that make them seem like good ‘prospects’ for the con artists. One way to avoid these scams is to identify them and recognize the patterns of exploitation.

Scams are becoming complicated

Some of the scams are evolving from what they used to be and are leading to more cases brought before an elder abuse attorney in Orange County. One common scheme that is now becoming prevalent involves using seniors to collect money for the scammers. The scammers pose as a company that pays for taking surveys.

They do not ask for money from their target. They simply use their bank account to collect money from other people they have been scamming. The details they give the people they’ve been conning elsewhere are of these particular senior. They may ask the unsuspecting senior to take their cut and send the rest of the money to them. Problem with this is that the person handling the money can get into legal problems for abetting a crime they are unaware of.

419 Type Scams

A 419 type of scheme that is evolving is one in which the con artists poses as a relative. They may send emails and try to act like one of their sons or daughters. The con artist will either try to get into the email of one of target’s relatives.

Recently email spoofing is another way that they have been trying to send emails that seem like they are from their relatives. Sometimes these types of con jobs are difficult for the elder abuse attorney to solve, because they are designed to be as convincing as possible. You can read the real story behind this scam from an awesome article at HuffPo that will show you how to notice a scam and how to deal with the scamer.

Email spoofing involves use of an email address that seems identical to that of a loved one, but has one unique detail that makes all the difference. For example, the letter ‘O’ may be replaced by the number ‘0’ (zero) in the email. This tiny detail is not always easy to discern and even a person with 20/20 vision may fall victim to this trick. The tone of email is such that it sounds exactly like the person it supposedly comes from. Con artists take time to master the tone of the letter in order to be more convincing.

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