Local bank helps seniors avoid scams

On Wednesday, July 15, assemblyman Joe DeStefano, Sen. Dean Murray, and Lesley Maldonado, an assistant branch manager representing Ridgewood Savings Bank, held a “Senior Scam Literacy Program” at the South Country Library to educate community  members.

Although a senior event, DeStefano, Murray, and Maldonado stressed that adults of all ages are vulnerable to scams and therefore could also benefit from the seminar.

The attendees were first told that scam artists often obtain information about their target through social media, loved ones, dumpster diving or mail interception among other strategies.

Appealing to strong emotions, such as sympathy, fear loneliness, the scam artists insist on secrecy and refuse any protests to engage in the scam.

Maldonado discussed an example where a text supposedly coming from someone’s daughter was asking for money after a warrant was served and needed funds immediately.

The sense of urgency, insistence on secrecy, demanding money up-front, and hard to track payments are typical features of the requests made.

The “giveaway prize” scam is one where someone is contacted, usually via email or letter, and announces a valuable prize like a vacation or winning the lottery.

The excitement of the letter usually leads into the urgent request for money.

The “sweetheart” scammers will create fake profiles on dating sites or on social media and work to build trust and connection before asking for money. The scammers are usually based outside of the U.S.

“Family imposter” or “grandparent” scams involve calls or texts among other forms of contact where the scammer pretends to be a family member, or a close friend. They feign things like imprisonment with authorities that can only be rectified through a secretive and immediate payment.

“Tech Support” scams will be presented as maintenance or virus threats to your computer where the scammer will be posing as a tech support specialist. Once granted permission to go into their computer, the scammers will look for sensitive and financial information.

Seniors are typically targeted as they have a fixed income or lifetime assets to exploit, experiencing loneliness, more trusting and willing to listen, and become eager to help the situation presented.

Seniors were told to look out for requests for wire transfers and prepaid cards.

If you are victimized, it is important not to keep it yourself out of embarrassment. The first step is to alert your bank and the police, and federal agencies. A preventative measure is to monitor your bank accounts for unusual activity.

Other warning signs involve new credit cards charges that you do not recognize, ATM withdrawals you did not make, bills from medical offices you did not visit, and calls from debt collectors, among others.

“Protecting our neighbors from fraud is an important part of our commitment to the communities we serve. Unfortunately, scammers continue to target older adults by taking advantage of trust, urgency, and technology. Through programs like this, we hope to give people the knowledge and confidence to recognize the warning signs, ask questions, and take a moment to verify before acting. At Ridgewood Savings Bank, we believe community education is one of the best ways we can help our customers and neighbors safeguard their financial well-being, and we are proud to partner with local organizations to make these important conversations possible,” said Kenneth Beeman, branch manager of the  Yaphank Ridgewood Savings Bank.

“Scammers are getting more and more sophisticated, so it’s important to learn about the latest scams and to learn ways to keep your information safe and to protect yourself. That’s why I like to team with financial institutions and law enforcement to hold these types of seminars on a regular basis, all across the 3rd Senate District,” said Murray.

“Scammers are becoming more sophisticated every day, and unfortunately they often target seniors and other vulnerable members of our community,” said DeStefano.

“The best defense is education and this seminar gave residents the tools they need to recognize common scams, protect their personal and financial information, and avoid becoming victims. If we can help even one person avoid losing their life savings or personal identity, this program will have been well worth it.”