Dear Clients and Friends:

Volume 3 – May 2020

Have you called your favorite aunt lately? What about your neighbor up the street? Studies show that elder fraud is more likely to occur when an older individual is isolated or there is an absence of a guardian.(1) Now more than ever, it is important that we stay connected with our family members and friends, even if we must follow physical distancing. Coronavirus-related scams are on the rise, and the lack of in-person connection puts us at heightened risk.

Here are some tips to help protect against scams:(2)

Do not order at-home test kits. The U.S. Food and Drug Administration (FDA) has only approved one at-home test, and it still requires a doctor's order.
Ignore information about vaccinations. There are no approved treatments or vaccinations for coronavirus at this time.
Disconnect from robocalls. Robocalls are illegal, and scammers are using them to hook people with work-from-home and health insurance schemes.
Be wary of emails claiming to be from official government bodies. Reference sites like coronavirus.gov for important information.
Research the organization before making a donation. It is great to help others during a difficult time, and we can help you research the best options before you make a gift.

We encourage you to visit the Federal Trade Commission’s “Coronavirus Advice for Consumers” page. It is regularly updated with new scams. This will help you be in the know and protect you and your family and friends. If you ever have any questions about this topic, please don’t hesitate to reach out. Our office has a number of resources to help you manage the ongoing challenges related to the protection against financial fraud.

Additional Articles

Retirees And Seniors - It’s A Critical Time To Protect Your Finances | Forbes

Four Ways To Help Prevent Loneliness While You're Social Distancing | Forbes

Scammers Claiming To Be CDC Employees Seek Donations, Offer 'Tests' To Seniors | KSMU Radio

Sincerely,

Matt Goodrich Larry Goodrich, CFP ®

President, Goodrich & Associates, LLC Vice President, Goodrich & Associates, LLC

Branch Manager, RJFS Co-Branch Manager, RJFS ~

[1] Elder Fraud and Financial Exploitation: Application of Routine Activity Theory, Marguerite DeLiema, PhD, 2018, https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6044329/

[2] Coronavirus Advice for Consumers, Federal Trade Commission, 2020, https://www.ftc.gov/coronavirus/scams-consumer-advice  Raymond James is not affiliated with Broadspire Care Management, PinnacleCare or EverSafe.

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