As an Iowa Fraud Fighter, we encourage you to use these tips to protect yourself and your loved ones from investment, consumer and Medicare fraud.
- Don’t be a courtesy victim. It’s OK to just say no and hang up.
- Check out anyone you don’t recognize. Contact the Iowa Insurance Division to learn if an investment offer and company is legitimate and fill out the Check Before You Invest form for each new offer.
- Monitor your money. Insist on receiving regular reports on your investments.
- Never judge a person’s integrity by the sound of his or her voice. Scammers know how to sound professional and friendly to gain your trust.
- Watch out for salespeople who prey on your fears. Scammers know you worry about your savings, but don’t let fear cloud your judgment when you invest.
- Take your time. Take the time you need to research, get advice and learn more about investing.
- Be wary of unsolicited offers. Be careful if you can’t find current information about their company.
- Always ask questions. Question everything. Your financial advisor or stockbroker is required to explain any restrictions before you invest.
- Watch out for “reload” scams. If you lost money once, don’t let scammers trick you into trying to recoup it.
- Don’t be embarrassed to report fraud. Reporting fraud is a responsible step in handling your finances, so don’t be afraid or embarrassed to report it if you are victimized. Click here to find reporting information.
When it comes to shielding your savings, you can never be too well informed. That’s why the Iowa Insurance Division partners with the Iowa Attorney General’s office, SHIIP and SMP to make sure you have the best advice on protecting your savings from all kinds of scammers.
More Tips for Preventing Identity Theft
- Protect your Social Security number. Keep your Social Security card in a safe place and don’t share it unnecessarily.
- Monitor your credit history. Tracking your credit score and reviewing your credit reports three times a year (one from each consumer reporting company every 12 months) is a good way to catch identity theft early.
- Review your statements. Tracking your spending and watching out for unfamiliar purchases will help you spot and stop an identity thief from charging spending sprees to your accounts.
- Be careful about what you share. Whether you enjoy posting about vacations or sharing an anecdote about your life, be mindful of the details you share online. Many scammers use social media to help choose their targets.
- Consider Freezing Your Credit. More than 1 million Iowans were affected by the massive Equifax breach which exposed important personal information, including social security numbers, birthdates, addresses and other information. Review the Iowa Attorney General’s tips regarding this data breach.
More Tips for Preventing Medicare Fraud
- Review your Medicare statements. Make sure your monthly Medicare statements are accurate reflections of the services and procedures you have received.
- Don’t carry your Medicare card with you. Unless you are going to a doctor appointment, your Medicare card, which has your Social Security number on it, is safest in a secure place at home.
- Never give out your personal information. Medicare will never call to ask for your personal financial information or Medicare number – they already have it.
- Go to the official source for information. Medicare health coverage plans cannot be sold door-to-door, and Medicare representatives cannot tell you which plans to purchase. Visit SHIIP’s website to get accurate information about enrollment periods and health coverage plans.
- Report suspected Medicare fraud. Medicare costs the government more than $50 billion each year. By reporting fraud to an Iowa Senior Medicare Patrol (SMP) counselor, you can protect yourself and the government from becoming victims of fraud, as well as others from being victimized.
Tips for Unwanted Phone and Mail Solicitations
- Remove your name from mail lists. To remove your name, contact the Mail Preference Service in writing at this address:
Mail Preference Service
Direct Marketing Association
PO Box 9008
Farmingdale, NY 11735
- Remove your phone number from calling lists. To remove your name, contact the Mail Preference Service in writing at this address:
Telephone Preference Service
Direct Marketing Association
PO Box 9014
Farmingdale, NY 11735
- Register your phone number on the National Do Not Call Registry. To register your number, go to DoNotCall.gov or call 888-382-1222.
Telemarketers who disregard the National Do Not Call Registry can be fined up to $11,000 for each call. These instances can be reported to the Federal Communications Commission (FCC) by calling 888-225-5322 or by submitting a complaint to the following address:
Federal Communications Commission
445 12th St SW
Washington DC 20554
