Posted on 11/29/2015 3:52:06 AM PST by Paul R.
A new issue for your favorite candidate?
Recently, a very dear elderly (mid-80's) relative was scammed for over @30k. This was her entire savings, plus she's now about $8k in debt. Her financial situation was precarious anyway. Her income is very limited, so she has no way to "recover". Worse, almost all her income goes away if her ex-husband dies (which may be one reason she ignored all the red flags.)
Additionally, there were / are all sorts of other repercussions including her bank forcing her to close her accounts abruptly, causing even more problems (checks bouncing, etc.) (The bank's "reasons" are really bogus -- she did nothing illegal or that would risk the bank -- but, that's another story.)
Despite loving family support (but not much capability of big $$ aid) the stress & humiliation eventually resulted in physical breakdown with very serious complications. Our relative is now out of the ICU, but the road to (health) recovery will be difficult at best. Just (ever) walking more than a few feet is "iffy".
Having been pulled into this situation to help out as best my family can, I've become aware how widespread this is. EVERY friend I've talked to has a parent who's recently been affected, or at least subject to attempted scammers. If you talk to bank managers, etc., it's even worse. The case I described above is by far the smallest in terms of funds lost that I've come across -- there are many people out there losing far more dollars to scammers.
Since the scammers are almost invariably overseas, this is a loss to both our elderly, their families, and our country. How big is it?
Well, if we assume 500k such scams per year (probably low) and $50k per scam (probably low), that's $25 billion per year of direct loss to the USA. Add in "repercussions" and I'm sure the figure is easily 50 billion a year.
Granted that $50 billion isn't much, by the standard of the money our gov't blows through these days. Still, this is an attack on our citizens, and much more needs to be done to fight it.
Also granted that overseas scammers are hard to go after, but, I say: Declare war on these bastards. At a minimum, HEAVY pressure on the gov'ts of countries the scammers operate from is in order. Execute these turds (scammers) when found via fire ants and honey, and confiscate every penny of their property possible, to compensate victims. If countries won't cooperate, block or at least disrupt their international phone services (through which most scammers operate). In the US, run HEAVY PSA ads. Make services like Western Union at least ask questions about large transfers of funds out of the US, and delay processing as needed if anything looks amiss. Perhaps banks should talk to their elderly customers about large or repeated withdrawals. (This can be done politely and in a helpful manner, with a modicum of creativity!!!)
I know we have Freepers here more qualified than I to discuss measures that can be taken.
Can we get a candidate to take notice? I'll bet it'd be worth a few points in the polls.
These aren’t limits on withdrawals; they are triggers to the email process, that’s all. This is a no-fault notification, that’s all. I’m saying that could be used by the family member to take action if needed.
I can, however, set a maximum daily limit on ATM withdrawals that will be allowed.
All I’m saying is that this would be better than nothing and it doesn’t cost anything nor require the doggone government to do anything. It’s time we as a collective citizenry stop relying on government for all things - the price to pay for that is too high IMO.
It was the “you have to pay the tax $$ up front to get your money” scam.
Churches could do a lot to educate parishioners, too...
(I’m not ALL fire and brimstone!)
One solution that would seem practical to me would be for banks to set up domestic only accounts.
Most scammers are offshore, and, for most of us, we would never have a reason for a foreign financial transaction (Canada possibly exempted).
Would be easy enough to put a default restriction on accounts to limit the transactions to domestic accounts only unless additional steps are taken to override.
An elderly relative who lives alone got a similar call from the "IRS" saying she faced arrest unless she forked over her bank information.
Even though she handled the caller properly you could tell the episode shook her up.
I understand - see my “22” for another idea.
Payment delays (time it takes a large “unapproved” cashiers check to go through) could be a bank policy “offered”, right?
Still, I think foreign gov’ts could be leaned on heavily to go after some of these characters. If not cut the d*** phones off.
A prime responsibility of gov’t IS to protect citizens from predators. Or to help citizens protect themselves. Cut other stuff to fund that.
I think the thing that you have to remember is that if it sounds too good to be true, it probably is.
The government did get into this by creating the "do not call" list but they have fallen down on the job big time. I do not answer any unknown numbers and have blocked them via my phone until I can check out the numbers online. So many scams - and happens day in and day out.
I don't see why the 70-90 age group seems more vulnerable other than they probably have more ready cash than younger people. They are also more likely to have a landline. We are not more trusting in general.
Make that “outgoing foreign financial transaction” above some limit, to any “suspect” country, and I believe it would help a lot. It could be a service banks are required to offer, instead of one they are forced to include.
A foreign (family) friend is actually loaning my relative a little emergency money, so, one doesn’t want to make that (incoming funds) TOO difficult. :-)
>remove a couple thousand Euro and there will be someone to come by Granny’s house that afternoon to pick up the money.
That would be wonderful if one of these scammer made me that offer. I try to get them to come here personally to get some money. I’d love to unload some of my anger on one or more of these scum.
The station nearest us is pretty good about that, in fact, but the one our relative watches a lot is not. Neither has discussed this type of scam - I think I'll e-mail them to create a PSA that can run relatively often, since the scam or variations of it are so common.
I think the thing that you have to remember is that if it sounds too good to be true, it probably is.
Of course, but many older people "fall for it" anyway. In our relative's case, she wanted so badly to have more to give to church, leave for the kids, give to a friend with health problems, and not have to scrimp so much herself... It's sort of like a well-intentioned greed that blinds decent and caring and trusting people. She (our relative) is actually very "sharp" for the most part (NO dementia there!) and yet...
The government did get into this by creating the "do not call" list but they have fallen down on the job big time. I do not answer any unknown numbers and have blocked them via my phone until I can check out the numbers online. So many scams - and happens day in and day out.
Agreed 100%!
I don't see why the 70-90 age group seems more vulnerable other than they probably have more ready cash than younger people. They are also more likely to have a landline. We are not more trusting in general.
Hmmm... My experience is that "you" (your generation in general) ARE (more trusting & polite / less likely to disengage if someone they don't know initiates conversation.) Maybe even loneliness factors into it, sometimes. Obviously, there are exceptions (you!), but, I agree with the FBI & they probably "know" potential victims in general pretty well...
In several cases, where the bank teller asked the right questions...the cops got involved and were standing there inside the door when the fake junior arrived. They basically get arrested and there’s some minor charge. The kid who is there to pick up the loot....is usually never the one who made the call or planned this out.
Personally, I’d like to invite ‘junior’ in....give him some refreshments....knock him out for a couple of hours, and drive him off into the middle of some Bavarian woods to dump him there.
Heh, I have a friend who’d Mom was scammed well into 6 figures. It’s probably best the scammer is overseas - the “anger” in that case might take the form of a large, hollow point projectile.
Very good point.
Actually, they would not go away, but fewer would be successful.
“whose”. Sheesh - I HAVE been up too long.
I’ll check back later, “All”. Thanks!
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I am a professional tax preparer and Enrolled Agent and our local citizens got hit hard on this last tax season. So many were contacting us (largest tax prep company) that I, for my office, went on the IRS.GOV web site to print out the very clear IRS guideline there; the IRS ONLY USES postal mail for any INITIAL contact PERIOD!
The problem is that the scammers have learned how to 'spoof' the Caller ID system so that the display shows "IRS" and that can be very scary. At least one client came in for whom we had done several years of tax returns, convinced that we had done him wrong and was SERIOUSLY antagonistic. He had tried to call the IRS for HOURS and, of course, got no answer! Showing him the printout AND it on the IRS web site FINALLY got him cooled down.
It took about a 2 week period before the scammers went on to another area code (we think!)
As far as the other CRIMINALs and defrauders of our elderly are concerned, I pray that they end up with incurable diseases and misery. SCUM is too kind a word to apply to them!
You are very emotional over this issue because someone you love is the victim.
I said (paraphrased) it would be disproportionate for a scammer to get equal prison time as a murderer.
Now tell me, let’s say there was no scamming involved at all. None. Let’s say instead your loved one was brutally murdered. And the same day in court when the murderer got 20 years, a separate trial gave a scammer 20 years. How would you feel then?
A scammer should not get the same punishment as a murderer just because your relative COULD have died as a result. A good analogy here would be, let’s say a lady runs a red light and I had to swerve to get missed. SHE COULD HAVE KILLED ME! The emotional trauma was overwhelming. By all rights, she should have been charged with attempted manslaughter. By your standards, that is what should happen.
I’m sorry your loved one got scammed. I hope the jerk gets caught. I hope he gets his just due.
But until our cultural shift to the left gets corrected, it will only get worse.
My credit card company notices odd transactions and contacts me if there’s a problem.
Doesn’t seem like this would be too hard for a bank.
Someone who never does wire transfers, and never has financial transactions to foreign nations, suddenly tries to wire thousands overseas - that should set off red flags and require additional confirmation.
Those who initiate those sorts of transactions routinely know that they are going to do so, and could easily exempt their accounts.
It is possible that banks already offer or can offer this service or something similar. I know from past employment experience that with trust accounts, all sorts of limitations can be placed on withdrawals. Would seem that the same could be placed on regular accounts too.
The FR name you wanted is “Admin Moderator”. Putting the semicolon after “admin” split it into two names.
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