International Law

Are You a Perfect Target for a Scam?

Aging baby boomers perfect target for scams

"Fraudsters are always looking for opportunities to prey on society's most vulnerable and are masters of manipulation, and focus on exploiting such human traits as greed, fear, excitement and gullibility.

Experts in the field of fraud and law enforcement predict that the rising trend in financial fraud will grow exponentially into the foreseeable future.

In anticipation of large inheritances, many baby boomers have taken a "live for now" attitude with their finances and currently find themselves "cash poor and debt heavy."

So what is the Toronto Star's advice?

"The best advice for baby boomers is to be informed and be skeptical. I know that you've heard this before, but it's worth repeating: If it sounds too good to be true, it probably is!"

Not even worth the $1.00 for the rest of the paper.

"Knowing that as a baby boomer you are a target of fraud is the best way to prevent being a victim. Reputable magazines are filled with articles on how fraudsters have victimized individuals and provide the necessary information to keep a baby boomer informed on how to prevent it from happening to them. "

Information and being informed doesn't deter or prevent con criminals: being prepared and staying out of situations in which social intelligence will be used as a weapon against you is a much better idea.

Full post as published by Misleading Advertising Law on January 21, 2008 (boomark / email).