BOSTON (CBS) – Scammers will say anything to cheat people out of money. And every year millions lose money to scams, from a few dollars to their life savings.

Seniors are more vulnerable when it comes to phone scams. They are often targeted because the caller assumes they live alone, have a nest egg, are less cynical and may be more polite toward strangers than a 40 year old.

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When the scammer calls they are very friendly, referring to the senior by their first name, making small talk, asking about their family. The caller often claims to be working for an organization or company one knows and would trust such as Medicare.

Our seniors need to be warned that if they get a call from someone they don’t know who is trying to sell them something they had not planned on buying that it is okay to just say “No thanks!” and hang up.

But many don’t want to be impolite so they don’t hang up. Staying on the line gives the scammer the opportunity to pressure the senior for personal information like a credit card number or Social Security number. Hanging up is the best defense.

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Here are a few red flags to help you spot telemarketing scams. If you hear a line that sounds like any of these, just hang up. If you want to still be polite, say “no thank you” and then hang up.

  • You’ve been specially selected for this offer.
  • You’ll get a free bonus if you buy our product.
  • You’ve won one of five valuable prizes.
  • We’ll just put the shipping and handling charges on your credit card.
  • You’ve won big money in a foreign lottery.
  • You have to make up your mind right away.
  • You trust me, right?
  • This investment is low risk and provides a higher return than you can get anywhere else.
  • You don’t need to check our company with anyone.

If you believe you have been a victim of fraud please take the time to file a complaint with FTC:  https://www.ftccomplaintassistant.gov/#crnt&panel1-1 or Call 1-877-FTC-HELP

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You can hear Dee Lee’s expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m. and 3:55 p.m.

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