Don't fall for foreign lottery fraud
By Tresa Erickson Feature Writer
Each year, organized groups of criminals target and victimize t housa nds of A mer ica ns by telephone, emails, and through the mail – but you can protect yourself and your family. The United States Postal Inspection Service has documented over $42 million in losses from this type of fraud. In some cases, people have lost their homes and their savings by chasing the dream of a big “lottery jackpot.” Inspector Paul Krenn advised, “One of the main techniques sc a m mer s u se i s a foreig n lotter y scam, where they tell you to send money to pay for taxes or fees.
Finding the right fit for your financial needs
Foreign lottery fraud, a criminal practice where scammers entice U.S. consumers to send money and even provide bank and credit card information, is a growing problem that can have devastating and longlasting effects on victims and their families.
“If you’ve received a suspected fraud via mail or if the mail was used to continue a crime • S c a m mer s a re c on st a nt l y • Don’t let a nyone pres su re started online, over the phone updat i ng t hei r met hods. you into making an immedior in person, report it to the U.S. One of their latest tricks is to ate decision. Postal Inspection Service.” convince you that you’ve won a foreign lottery and all you need • Ne ver pu rch a s e a ny t h i ng until you get all information in What to watch out for to do is wire a small processing writing. Source: NAPSI fee (relative to the gigantic Here are a few facts and signs prize). Don’t – you’ll never see to consider: that money again. • S c a m mer s a re u si ng ne w • Beware of calls from foreign techniques, such as legitimate countries, especially if they’re ma i ling lists a nd new calling an elderly person. te ch nolog y. T he y “spoof ” caller ID to make it look as if • If you or a loved one receives an they’re calling from the U.S. or unsolicited offer, hang up the even a government agency. phone or delete the email. • Older consumers, especially • Don’t give out personal or fishut-ins, are often a favorite nancial information to anyone target for foreign lottery fraud. over the Internet or phone. Look out for checks written or money wired internationally; • Never wire or send money to anyone, any where, who says a telephone t hat r i ngs you have won a foreign lottery. constantly; or a stack of lottery or sweepstakes entries.
profe s sion a l e x pe c t at ion s ? Conduct an Internet search on the names. W hat comes up? Good or bad reviews? Good or You work hard for your money. bad rat ings? A ny t hing else? Don't trust it to just anyone. Take whatever you find with Just as you took your time to a grain of salt unless it comes find the perfect bank, make f rom a t r ust wor t hy sou rce. sure you take the time to find Cross of f a ny na mes you’re the perfect guide, whether an hesitant about and consult with accountant, investment confriends and family on the names sultant or financial planner. r em a i n i ng. S e e w h at t he y C on s u lt t he phone b o ok , have heard or if they have any I nter net a nd pe ople you recommendations. know, and you’re bound to Once you have a short list of come up with a long list of professionals, you can start the n a me s. Na r row i ng t he s e actual interview process. Call down can be difficult. and set up a time for a phone To beg in, determine what interview. If they are too busy to services you are interested in give you an interview, either by and cross off any individuals phone or in person, cross them or groups that do not provide off your list. If they don’t have these services. Then don your time for you now, chances are detective cap and prepare to they won’t later. do a little snooping. Sta r t by check ing t he I nt e r ne t . D o t he n a me s remaining on your list have a website? If so, rev iew it. Does it meet or exceed your
Conduct your phone interviews a nd f i nd out t he ba sics, including how long they have been in business, what licenses they hold, what professional groups t hey belong to, what
areas they specialize in, etc. Ask for a list of fees and a list of referrals. Review them carefully and take the time to check out the referrals. Cross off any names that don’t meet your expectations and set up in-person inter v iews with the rest. Prepare a more detailed list of questions and ta ke t he t i me to st udy t he of f ice su r rou nd i ngs. Is t he space clea n a nd orga ni zed? Does business appear to run smoothly? Are clients attended to i n a t i mely ma n ner? Do you feel comfortable with the individuals appointed to work with you? This is not a time for personality clashes. Depending upon t he results of the first round of in-person inter v iews, you may need to conduct a not her. Do so a s needed until you find the right person to assist you with your financial endeavors. It is your money. Don’t leave it to chance. Take the time to find the right person for the job!
We work for you, not Wall Street.
Have you ever wondered who your financial advisor really works for, you or the firm? Our goal is your success as an investor. We work strictly for you. And we are backed by the strength and reliability of LPL Financial, the largest independent broker/dealer in the nation.* We focus on one bottom line: yours. *Based on total revenues, Financial Planning magazine, June 1996-2011
Jared P. Ranger LPL Financial Advisor
Aaron C. Knapp
Where to get help To help people recognize and prevent frauds and scams, the U.S. Postal Inspection Service set up a website, http://www.deliveringtrust.com. At the site, you can educate yourself, share the information with family and friends, and report suspected fraud sent through the U.S. mail.
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Advertising Supplement to the Sun Journal, Lewiston, Maine, Friday, September 7, 2012