There is no such thing as a free lunch. That old adage is why AARP developed the Free Lunch Monitor Program to help older Americans avoid being scammed out of their investments. A common setting for fraudsters to engage with their victims is by offering a free lunch or dinner seminar, by which an older individual is solicited to attend and learn more about investment options in retirement. Once at the seminar, attendees may be subject to high-pressure sales tactics designed to elicit personal information, such as their contact information or information about their finances. The presenter may even attempt to make a follow-up visit to their home. These tactics are highlighted in a series of short videos recently developed by AARP. In addition, AARP has identified five red flags to be conscious of when attending free lunch investment seminars: • High returns and low risk. These days people are continually receiving free lunch investment seminar invitations making claims that sound too good to be true, and usually are. Attendees should be cautious of anyone making guarantees. • Opportunity of a lifetime! When scammers offer attendees a "one-time-only" deal, they are trying to force them into making a decision without giving them the time for research or deliberation. • Get back to you on that. Scammers will often skip over specific details or not fully answer investors' questions. Watch out for presenters who refuse to answer questions clearly. • What's your account number ...
Orignal From: AARP Identifies Five Red Flags for Avoiding Investment Fraud
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