Did you know? Telemarketing fraud is pervasive

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Recently I was visited by an elderly citizen who was defrauded out of her life savings. Scammers prey upon our elderly with no remorse. Often times these scammers are from another country and reimbursement is impossible.
According to the Louisiana Department of Justice, telemarketing fraud costs consumers an estimated $40 billion dollars each year. It is important to remember that not every telemarketer who calls is legitimate. It is estimated that there are 140,000 telemarketing firms in this country and up to 10 percent of these may be operating fraudulently.
Everyone is a potential target of a scam or fraud. Fraud is not limited to race, ethnic background, gender, age, education, or income. However, con artists who use the telephone to swindle trusting people out of their money more often target the elderly because the caller assumes that they live alone, have a large nest egg, or may be more polite to strangers.
Telemarketing sales rule;
The Federal Trade Commission’s telemarketing sales rule helps protect from abusive and deceptive telephone sales practices. It prohibits telemarketers from calling before 8:00a.m. and after 9:00p.m. in addition – before a purchase, telemarketers must verbally communicate;
A. The total cost of the goods they are selling.
B. Any restrictions on getting or using them, and
C. If a sale is final or non-refundable.
Telemarketers must also say it is a sales call, the name of the seller, and what they are selling before they make the sales pitch.
Hang up on phone fraud:
Never give Social Security number, credit card number or bank account information over the phone unless you initiated the call.
Resist high pressure to make an immediate decision.
Do not send money by courier, overnight delivery, or wire to anyone who insists on immediate payment. Research all offers with the Louisiana Attorney General’s Consumer Protection Section before agreeing to send money.
Ask the caller to send written information about the product or service being offered.
Remember: if it sounds too good to be true, it probably is!
(Did You Know- Louisiana has a do not call program that can reduce the amount of telemarketing phone calls you receive. To sign up for the program or get more information, call the Louisiana Public Service Commission at 877-676-0773, or visit the National Do Not Call Registry by calling 888-382-1222 or visiting donotcall.gov.