{"data":{"id":"04422906-eafe-451c-b13e-43f9c30ccff7","updated_at":"2024-04-04T21:46:52Z","template_id":"73046548-86ec-431a-aca0-75b53bc936f3","localized":{"blocks":[{"id":"30086319-df6e-471a-93ea-04dfa0c80b19","kind":"richtext","content_html":"

I usually write articles about creating legacies for our future generations. However, I recently had a very shocking event occur that I did not anticipate.

My wife and I decided to purchase a new construction condominium which required a $10,000 deposit to hold the unit. Deciding to be prudent, I chose to mail the check to Arizona using USPS Priority Mail. I was surprised by the call I received from the developer about five-days later.

This supposedly safe and secure USPS Priority Mail arrived slit open and EMPTY! I was stunned! What should I do?

I went online and setup a stop-payment on the stolen check. Later in the day, my wife and I discussed if there were any other actions we should take.

We realized my account number was now compromised and could be used to make other withdrawals from the checking account. We contacted our bank, and they immediately froze the account (allowing deposits to the account but no withdrawals) and setup a new checking account for my banking activities.

On the very next banking day, SOMEONE DID TRY TO CASH THE STOLEN $10,000 CHECK.

Because of the quick action we and our bank took, this withdrawal request was rejected by the bank.

I ultimately wired the required funds to the title company used by the developer. However, even wiring funds require vigilance! Cyber criminals have learned to hack the email accounts of realtors and title companies and send emails with fake wiring instructions. These emails are very convincing and sophisticated.

Never wire money without first double-checking that the wiring instructions are correct. Always independently confirm wiring instructions either in person or via a telephone call to a trusted & known source and verified phone number.

Financial scams targeting seniors is far too prevalent in our society today. The FBI estimates that seniors lose more than $3 billion each year to fraud. Scammers go after seniors because they believe older adults have a significant amount of money sitting in their accounts and are easy targets.

As the National Council of Aging shared, there are many types of scams perpetrated against older adults. Some examples are phone cons, grandparent scams, internet and e-mail fraud, lottery and sweepstake tricks just to name a few.

And because this type of fraud often goes unreported, the size of the issue and people that are impacted are likely way underestimated.

The moral of the story – using supposedly trusted sources like USPS Priority Mail or emailed wiring instruction does not guarantee safety and security.

Be vigilant. Act immediately if you suspect any fraud. Contact your bank and quickly take the actions they recommend. Be suspicious – protect your money. It is much more difficult to recover funds once they leave your account.

If you in any way suspect fraud, ACT NOW and ACT FAST!

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