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News from Seniors And Law Enforcement Together (SALT)

The Better Business Bureau Cautions Seniors about Internet Investment Scams

By Pam Bennett
Scott County Sheriff’s Office

By Pam Bennett
Scott County Sheriff’s Office

A scam targeting seniors is hitting across the country and as close as the State of Wisconsin.
The Better Business Bureau says that hundreds of thousands of dollars have been defrauded from seniors. It isn’t a single phone call or email asking for money, it’s an elaborate scheme aimed at people in need of cash.

A retired senior who lives in an old home passed down through her family found the home in need of extensive repairs and she wasn’t sure how she would pay for the maintenance. Her phone rang and the person calling started talking about giving away grants and how to qualify for these grants. Soon, this woman was receiving packets of information about internet investment opportunities and cash grants through the mail.

The information was so convincing and spoke of timelines in order to qualify for the cash. Within about a month, this woman sent in three payments, totaling about $2,000. Then suddenly the company stopped answering the woman’s phone calls.

The Better Business Bureau says this internet investment scam, which promises money through online
advertising, targets seniors and is happening nationwide. There are about 140 documented cases. The scammers usually use several different company names and there are even websites set up to make it look legitimate.

The Better Business Bureau recommends several steps to avoid becoming a victim including, research the company, ask for references, talk to family or friends about it and check the Better Business Bureau website.