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Financial Exploitation of the Elderly

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					                                                                      Ohio




             Financial Exploitation
                 of the Elderly
                                                                                                                                     Ohio
This document was supported, in part, by grant number 90MP0080/01 from the Administration on Aging, Department of Health
& Human Services. Grantees undertaking projects under government sponsorship are encouraged to express freely their                         1
findings & conclusions. Points of view or opinions do not therefore necessarily represent official Administration on Aging policy.
   What is Consumer Protection?
• Ensures a safe
  marketplace for
  consumers
  and businesses

• Enforces laws
  related to consumer
  transactions
                                  Ohio

                                         2
         Top Complaints (2010)
• Auto

• Collections, credit services

• Internet or phone

• Health and beauty

• Home improvement
                                 Ohio

                                        3
              Top Complaints (2010)
• Professional services

• Shopping, food or beverage

• Sweepstakes or prizes

• Utilities

• Mortgage
                                      Ohio

                                             4
   Why Are Seniors Targeted?
–Trusting & polite
–Retirement savings
–More assets
–Isolated
–Less likely to report fraud
                               Ohio

                                      5
Scams Occur By Many Means
•   Telephone
•   Letters
•   Door-to-door solicitations
•   Flyers
•   E-mails
•   Phony Web sites              Ohio

                                        6
            Common Scams
• Grandparent
• Credit repair
• Fake Check

• Identity Theft

• Foreclosure Rescue
                           Ohio

                                  7
             Common Scams
• Investment fraud

• Living trust

• Prizes/sweepstakes

• Reverse mortgage abuse

• Insurance fraud
                            Ohio

                                   8
             Family Scams
• Use of credit cards without permission



• Pressure to sign over deed.



• Forged signature
                                           Ohio

                                                  9
 Handling Unwanted Phone Calls

• Do not trust your caller ID.

• Do not give out your phone number

• Don’t share your personal
  information.

                                  Ohio

                                      10
 Handling Unwanted Phone Calls
• Sign up for the National Do-Not-Call
  List:
  –www.donotcall.gov

  –Follow simple prompts.

                                     Ohio

                                         11
 Red Flags of Scams

• Requests for wire transfer

• “You’ve won a contest!” you never
  entered

• Company only has a P.O. Box

                                      Ohio

                                         12
 Red Flags of Scams

• Refusal to provide written information

• Claims of urgency: “Act now!”

• Requests for personal information

• Pay to receive a prize                   Ohio

                                                  13
If You’re a Target of a Scam…
Write a letter to the company explaining:
•   Facts of the situation
•   What you want
•   Deadline to resolve
Call to follow up
Keep log of all calls & letters
                                        Ohio

                                            14
    Filing A Complaint with the
          Attorney General

• Online: www.ohioattorneygeneral.gov

• By phone: 800-282-0515

• By mail: hard copy forms available

                                        Ohio

                                           15
Consumer Rules to Live by

            • Research companies
            • Read the fine print
            • Remember your rights
            • Reconsider the purchase
            • Report fraud
• The General
  Accounting Office
  estimates that $1 out
  of every $7 spent on
  Medicare & Medicaid
  is lost to fraud, waste
  & abuse.

• Medicare fraud, waste
  & abuse cost you and
  me $60 billion a year.
                     Ohio

                        17
                             17
           Honest
         mistakes by
         the provider
                        Bills from providers
                        whose names you
                        may not recognize
                        such as
Hospital bills          anesthesiologists,
that are just           radiologists, etc...
“too high”!!
                                               Ohio

                                                  18
                                                       18
• Fraud is an intentional deception
  or misrepresentation that the
  individual makes, knowing it to
  be false and that could result
  in some unauthorized benefit.


                                      Ohio

                                         19
                                              19
Medicare Fraud & Abuse

           • Offering free
             medical tests in
             exchange for a
             Medicare number.

           • Every Patient has
             the same
             equipment.

                                 Ohio

                                    20
                                         20
Things to look
for:
• Beneficiaries who are
  not homebound.
• Medicare Summary
  Notices (MSN)
  showing more services
  than those actually
  provided.

                     Ohio

                          21
                               21
Durable Medical Equipment
     Fraud & Abuse
          Things to look for:

              • Doctors who order
                unnecessary
                equipment or
                supplies.
              • Suppliers not picking
                up equipment no
                longer needed.
                                    Ohio

                                        22
                                             22
    Medicare/Medicaid Fraud,
       Waste and Abuse

•Most providers are honest

•Only 2-3% bill fraudulently



                               Ohio

                                  23
                                       23
• Always Review Your Medicare
  Summary Notice (MSN).
  www.mymedicare.gov

• Always Keep a Record of Your
  Services and Appointments

• Never accept Medical Supplies or
                                     Ohio
  Equipment Door-to-Door.
                                        24
                                             24
Follow these steps in this order !

•   Call the provider to determine if it is a
    mistake.

•   If you are dissatisfied with the response,
    gather all the facts that you know about
    your situation.

•    Call Ohio SMP
    1-800-488-6070 and ask for Dave.
                                                Ohio

                                                   25
                                                        25
         Identity Theft

The crime of stealing
someone's personal,
identifying information
for the purpose of using that
information fraudulently.

                                Ohio

                                   26
On the internet nobody knows you’re a dog.
                                             Ohio

                                                27
                                                     27
• Targets people from all walks of life

• Total cost to individual victims and businesses
  is $55 billion a year

• Americans spend 300 million hours per year
  resolving problems related to identity theft

• Identity theft causes emotional and psychological
  impact
                                              Ohio

                                                 28
How Can Someone Steal My Identity?

• Take mail from your mailbox
• Take bills, credit card
  information or statements
  from your trash.
• Eavesdrop on your public
  phone calls
                                Ohio

                                   29
                                        29
•   Social Security Numbers
•   Credit Cards
•   Internet Scams
•   Check Fraud
•   Cell Phone
•   ATM Skimming
•   Stolen Purse/Wallet
•   Phishing                  Ohio

                                 30
• I don’t have much money. No
  one would want to steal my identity.
• If I share my personal info with my bank, no
  one else will get hold of it.
• If I lose my purse/wallet, all I have to do is
  cancel my credit cards and nothing else to
  worry about.
                                               Ohio

                                                   31
           Protect Yourself from
          Identity Theft & Fraud

• Hang up on anyone who tries
  to threaten or pressure you.


• Shred everything with your       I’m
                                   hanging
  personal information.            up!!!




                                   Ohio

                                      32
                                             32
• Limit amount of personal
  information “out there”

  –DO NOT complete Internet “profiles” for rebates
   and contests.

  –Be cautious with online resume postings, e-mailing
   lists, online purchases and other public data
   sources.
                                                Ohio

                                                     33
 Phishing: One Type of ID Theft
•Con artist initiates contact with
consumers under false pretenses
to gain access to their personal
information

•Fraudulent emails most common

                                     Ohio

                                        34
• Who has the right to ask for it?

  –Motor Vehicle Department

  –Welfare Departments

  –Tax Departments

  –Health Care Providers             Ohio

                                        35
    Keep Your Passwords Safe
• Pick one that is easy to remember.
• Use at least six characters (mix
  numbers/letters).
• Do not use your name.
• Do not use numbers associated with you.
• Change your password often.
• Do not use the same password
  everywhere.                         Ohio

                                        36
          Protect Yourself from
         Identity Theft & Fraud



Remove your name from Google’s phonebook.
• Go to www.google.com/help/pbremoval.html
• This will take you to a form that you complete.
      • Tell the reason why you want to be
                  removed:Privacy.          Ohio

                                              37
                                                   37
        If Your Identity is Stolen:
• Act quickly!
• File and keep a copy a police report.
• Call banks, credit card companies, and any
  financial institutions. Ask for fraud/security
  department.
• Close all suspicious accounts.
• If checks or ATM cards were stolen, advise
  the appropriate financial institution.
• Initiate stop payments on those checks.
                                                   Ohio

                                                      38
   If Your Identity Is Stolen:
• Place a “Fraud Alert” on your credit file.
• Order copies of your credit report from all
  three credit agencies.
• File your case with the FTC (Federal Trade
  Commission).
• Retain all evidence so you can help build
  your case to creditors: names,
  conversations, dates, times.             Ohio

                                            39
            Consumer Resources
                               Federal Trade Commission
  Attorney General’s Office          877-382-4357
        800-282-0515                  www.ftc.gov
www.OhioAttorneyGeneral.gov
                               Ohio SMP, 1-800-488-6070
                                     Ask for Dave

   Better Business Bureau     Dept. of Job & Family Services
        800-759-2400                   877-644-6562
        www.bbb.org                  www.jfs.ohio.gov

                                                     Ohio
            Consumer Resources
• Do Not Call Registry      • Annual Credit Report
   www.donotcall.gov          877-322-8228
                            www.annualcreditreport.com
• Opt Out Programs
  888-567- 8688             • Save the Dream Ohio
  www.optoutprescreen.com
                              888-404-4674
  www.dmachoice.org         www.savethedream.ohio.gov



                                                     Ohio

                                                         41
 To request this presentation for your
      organization in Ohio, call
            800-488-6070

     I you are outside of Ohio visit
 www.smpresource.org. Click on your
state (first page, upper right) to locate
    SMP phone number to contact.
                                       Ohio

                                            42
Questions???




               Ohio

                  43

				
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