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Consumers have proven themselves to be easy targets for telemarketing fraud. The telephone's anonymous nature has made it all too easy for nameless, faceless scam artists to convince seniors to hand over thousands in exchange for bogus promises such as home loans, "can't miss" investments, credit repair or other tempting offers. And with a record
number of consumers logging on to their computers every minute of every day, scam artists have found yet another outlet.
This isn't to imply that no legitimate telemarketers or online marketers exist. Some companies conduct business honorably in this manner; but unfortunately, a proliferation of con artists has made it extremely difficult for consumers to determine who's honest and who isn't. Senior citizens, in particular, have been drawn in by a kind voice on the phone. A
friendly demeanor can make anyone forget that they can't see who they're talking to, and before you know it, you've pledged your savings to someone you've never met.
Several "red flags," however, can tip you off as to the legitimacy of the telemarketer to whom you're speaking, or the salesperson whose e-mail lands in your Inbox. Most of these tips apply to telephone salespeople, although many e-mail marketers will provide you with an 800 number to call if you're interested in the initial pitch.
You have to accept the offer immediately, or you'll lose this "once-in-a-lifetime" opportunity. You may feel as if you'll lose your chance at a low-interest loan, for example, if you don't commit yourself right now. If the offer was indeed "once-in-a- lifetime," you'd be given more than five seconds to consider accepting it. Don't give in to pressure. If a telemarketer encourages you to digest the information he or she has given you, and then offers to contact you later in the week to "follow up," you probably have yourself a legitimate company. No guarantees, of course, but successful scams often result from high-pressure tactics.
The caller claims to have no literature describing the offer he's just presented to you; or, he tries to pressure you to commit before sending you anything in the mail. Commit to nothing until you've seen written documentation of the offer and the organization with whom you've been speaking.
You're contacted by someone who claims you've won a "prize." Of course, to obtain your "prize," you have to hand over "fees" for taxes, administration or other processes. Any requests for payment prior to the receipt of sweepstakes giveaways or other prizes are illegal.
You've been "selected" to take advantage of a wonderful investment opportunity with absolutely no risk whatsoever. Every investment presents at least some risk. Reputable companies must inform prospective investors
of those risks before they commit to anything.
The telemarketer demands immediate payment, either by wire service or courier service. This scenario is much like the first point listed above; it's a pressure tactic to get you to commit immediately before you see through the scam. Legitimate companies don't request money in this manner. Furthermore, they don't request cash, which many scam artists will demand because they don't want to be traced by police -- and because upstanding credit-card companies and their merchants don't want anything to do with them.
You're asked for your Social Security number. There's only one instance during which you should be asked for this information: when you're applying for credit, and your credit history must be investigated prior to your approval. But that's a piece of information that should only be given in person -- not to an anonymous entity over the phone. Nor should you give your bank account number, your income, your credit-card number or other personal financial information over the phone. Legitimate companies will only ask you for your credit-card number if you've purchased an item and
have agreed to be billed for it.
A telemarketer offers to "repair" your damaged credit so that you may obtain such goals as home improvements. That "repair" comes only after you've committed to pay an up-front fee (as discussed in another article published in Realty Times this week). The truth is that you can't repair a damaged credit history; no company can perform the impossible.
In exchange for an up-front fee, a company offers to get back for you the money you previously lost to a telemarketing scam. Want to be taken by another scam? Hang up. It's illegal for an organization to request up-front fees for such services. If you've been scammed, your best resource remains your local law enforcement agency ... who, by the way, doesn't require that you pay for its legitimate services.
Have you ever said "no" to a telemarketer, only to have the company call you back repeatedly in hopes that you'll change your mind? The red flag should be waving furiously in your mind. Legitimate companies don't use this harassing tactic, period. Ask to be taken off the telemarketer's list immediately, and if they're legitimate, it's the last time your family's dinner should be interrupted by that telemarketing organization.
You might consider posting these tips by your home telephone and sharing them with your family members -- particularly the senior members of your extended family, who all too often hand over their money to organizations they thought were legitimate. Times have changed, and while technology has added much to our lives, it's provided a climate in which scam artists can easily roam undetected amidst legitimate organizations. So educate your family, and when in doubt, hang up and elect to do business the old-fashioned way: in person.
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