LISTEN TO BOOMTOWN RADIO! “ALL the Music That Matters for the Generation That Created Rock 'n' Roll”

Are You on a Sucker List?

Law enforcement calls them “rebound scams.” It’s when someone who’s been scammed once, gets scammed again. It’s not a rare occurrence.

62% of people who were scammed once, got scammed again. In fact, the average number of times a victim gets scammed is 59! Why? There are a couple of reasons:

1.) Scam artists, like any business, keep a record of who they've done business with. That way they know who may be ripe to be conned again, especially if they’re small dollar amount scams. Nicking a mark for $20 or $40 a pop may not seem like much, but if they clip you 59 times, that can add up to between $1,180 and $2,360.

2.) Scam artists can also sell their lists to other scammers. It can be a complicated computer database or as simple as a hand-written list, but “lead lists” can be reused over and over to steal from the unwary.

Once on such a lead list, it’s unlikely your name will ever be removed, so what can you do to reduce your risk of falling victim to a rebound scam?

Tell Your Family – Embarrassing as it may be to admit you were conned, studies have shown that telling family members can reduce your chances of falling for another con by as much as 50%.

Practice Scam Prevention – Never answer scam emails promising you free merchandise, even if they seem to be coming from a legitimate retailer. Big corporations simply don’t use this type of email for promotions. Don’t give your credit card, bank account, or social security number out over the phone. Other tells: con artists frequently ask for payment in the form of gift cards, financial transfer apps, or cryptocurrency – all of which leave you with no way to ever recover the money.

Avoid Recovery Scams – These types of cons add insult to injury. The scammers use the lead list to call and offer to recover the money you’ve already lost but for a fee. Once you’ve paid the fee, they disappear.

Be Smart with Your Smartphone – Never answer calls or text messages from people & numbers you don’t recognize.

Pop Up Player

Latest Posts–Financial Info

  • Medical ID Theft
    We’ve all heard about identity theft in regards to bank accounts and credit cards, but there is another kind of identity theft that can be even costlier to you! It’s medical identity theft. That’s when…
  • Money-Saving Vacation Tip
    Planning on hitting the road this summer? You may be able to save money on your transportation if you’re willing to a little searching. There are companies that need to move vehicles (even RVs) from…
  • Don't Make This Financial Mistake
    Yes, you should pay attention to how your investments are doing, but not obsessively so. For example, the stock market always goes through periods of decline, yet every time, it comes out the valley and…
  • All That Glitters… Still Won’t Beat Inflation
    You often hear it said that investing in gold is “a good hedge against inflation,” meaning the value of that gold will rise faster than consumer prices. But it turns out that is not true.…
  • Are You on a Sucker List?
    Law enforcement calls them “rebound scams.” It’s when someone who’s been scammed once, gets scammed again. It’s not a rare occurrence. 62% of people who were scammed once, got scammed again. In fact, the average…
  • Before You Invest...
    Since the advent of cell phones and the internet, the ways unwary senior can get scammed has multiplied rapidly. Before you move any of your retirement savings into a new investment, make sure you do…