Seniors Money Stolen By Scammers - News and Weather For The Quad Cities -

Seniors Money Stolen By Scammers

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DAVENPORT, IA – Every day, people are tricked into insurance and investment frauds, but seniors seem to be the most targeted victims. It doesn’t matter how educated you are or how much history you have with investing, anyone can be a victim.

Con artists have a way of gaining trust, and that is the direct route to a victim’s bank account.

Roberta Shadensack is a retired school teacher from Davenport. All it took was one phone call that put her money at risk. Shadensack says, “He said that Medicare was revising their cards and I was to replace it. They wanted to know what my banking account number was.”

Shadensack gave the unidentified man her checking account number. She says, “It sounded like he already knew [my account number]. He was checking to see what it was, if it was the same as his.”

Shadensack’s scammer fit the typical profile. He was confident and gained the victim’s trust.

Investigator Al Perales from the Iowa Attorney General Office deals with fraud cases like this every day. He was in the Quad Cities today to give advice to many seniors.

He calls the scams an epidemic, but there are many ways to protect yourself.

First, understand the con artist. They will make you feel comfortable, then start talking about the money. Also, double check the credibility before you give any personal information.

Perales says, “Many times, they involve fear, excitement, or they pull your heart strings. Involve any of those three and they are asking for money or information, it’s more than likely a scam.”

Experts say older folks, especially those near or in retirement, are the most targeted. They are also the ones that get hurt the most because there is less time to recover after the scam.  

If you feel uncomfortable, don’t be afraid to hang up the phone. Also, do not let anyone in your house who is trying to sell you a product or service.

For concerns, you can reach out to the Attorney General’s Office to see if the person is a fraud.

As for Roberta Shadensack, she felt uncomfortable after hanging up the phone and made a call to her investment counselor. He told her to call her bank immediately to fix it. Within an hour, the bank changed her bank account number without damage.

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