Financial Fraud, Scams, Seniors & the Rest of Us Too.

by Lorraine on May 20, 2009

As a Board member of the Ventura County Adult Abuse Prevention Counsel, we hold a networking breakfast every other month that is open to those who work within the Senior population. 

At every event we provide speakers to educate our attendees on many different topics that pertain to the Senior community helping them to be more informed and a trusted source of information for their clientele.   This morning’s breakfast was hosted by Atria Brighton Gardens of Camarillo and our guest speaker was Jacqueline Wiley-Sistrunk.

Jacqueline represents the Department of Corporation for the State of California and they conduct investigations into any type of fraud or scam.   The Dept. has cross relationships with the Atty. Generals Office, the Dept of Insurance and Real Estate and the State Contractors License Board, making it easier and more effective to do their investigations.

Their purpose is to protect and educate the citizens of the State about all of the scams and financial trickery that has lately grown worse under the financial crisis.   The thieves are out there, not only taking advantage of Seniors but the rest of the population as well.  To be informed, means to be safe.

I think that we are all aware of the seriousness of identify theft but many new scams have come about due to the financial meltdown and it’s vitally important to be aware, cautious and sceptical of anything that seems “too good to be true”, or just plain suspicious.  Everyday some “creative” thief comes up with another idea to steal money  and some of them were considered to be very trustworthy.

Think of the name, “Madoff”.   He was amazingly talented and convincing, wasn’t he?

Seniors in particular are sceptical to these scams, you know  “lottery winnings”, home repairs, annuities that won’t pay out until 10- or 20 years have passed, etc.    The list is endless and I learned about quite a few things today that even I didn’t know about, such as “skimming”.

The CA Dept. of Corporations ( No they don’t set up a corporation for businesses) has an excellent book that is available on what to watch out for and who to call if you have become a victim of any kind of swindle, fraud or scam. 

I will be using this 25 page booklet as part of my presentation material on Reverse loans whenever I meet with a potential new client because I feel that it’s very important for Seniors to have this information in the event that they need help.

Being aware, awake and not so trusting will protect you in many ways.   Here is the contact information for them if you would like to know more or if you would like your own copy of the booklet called “Protect yourself from Fraud”.

Jacqueline has been employed with the Dept. of Corporations for many years and she’s very passionate about her responsibility within it.   I first met her approximately four years ago, when we were both participants at the Ventura County Veterans Health & Resource Fair and I was impressed by her sincerity and dedication to helping others.

She does takes personal calls and if you feel that you need help or have a question, please call her.   She’s available and will address questions and concerns plus give you advice as to what your options are if you feel that you have been a victim of fraud. 

www.corp.ca.gov

1-866-275-2677 or TTY 1-800-735-2922

Jacqueline Wiley-Sistrunk

Public Outreach Specialist

213-576-7643

{ 1 comment… read it below or add one }

Jeffrey A. Jackson 06.06.09 at 3:50 pm

We’re all subject to any scam plans. Would you care to give some examples on the most common set ups for initial precaution? Thanks Lorraine.

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