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DENVER (KDVR) — Last year, scammers stole billions of dollars from older Americans. But a class taught in Denver aims to help older Coloradans hold on to their hard-earned money.
“Any of us could be scammed at any time. Seniors are typically more trusting,” said instructor Michael Gorin, a former auditor with the Government Accountability Office. He recently taught the multi-week course at Senior Planet in Denver’s Lowry neighborhood.
According to the Federal Bureau of Investigation, last year, older Americans were defrauded out of nearly $5 billion. But that’s just the scams that were reported. The American Association of Retired Persons (AARP) says the number is likely closer to $28 billion.
The purpose of the class is to give older Coloradans tips on how to identify and prevent scams, and avoid being ripped off by scammer phone calls, text messages and emails. Especially around the holidays, when scammers step up their efforts, according to Gorin.
“(Seniors) don’t get scammed necessarily the most, but it has the most devastating impact on them,” Gorin said.
He has three tips to help aging Coloradans avoid being scammed.
“Number one, pause. Take a deep breath. Ask yourself, ‘Does this sound right?'” Gorin said.
Second, he says to be aware of so-called “affinity scams,” where fraudsters find common ground with the victim in order to scam them. For instance, callers who prey on people in the same ethnic group, church denomination, or who work in the same industry,
And finally, Gorin says to beware when a scammer won’t let you hang up the phone, or keeps calling back.
“Sometimes they’ll do what’s called the long con. And in con terms, it’s called ‘pig butchering.’ That means they keep you going and going, and string you along, and string you along, and string you along,” Gorin said.
Gorin hopes the tools he teaches in class will provide seniors with the information they need to fight back against the scams that are costing Americans billions.
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Anthony Sutton is a business strategist and writer with a passion for management, leadership, and entrepreneurship. With years of experience in the corporate world, he shares insights on business growth, strategy, and innovation through management-opleiding.org.
