If you or a loved one is elderly or suffering from a chronic health condition, beware of scammers. Not only can falling prey to a scam have a negative impact on your bank account, but it can also affect your medical coverage and even homeowners insurance rates.
Fraudsters and scammers look for vulnerable targets who may not be aware of how certain technologies or services work. That allows them to exploit someone with a health condition, for example, and order unnecessary medical equipment in that person’s name. By billing the insurance company for the equipment, the scammer gets to pocket the cash–and everyone else is left with rising insurance rates. Homeowners should also beware of fraudulent mortgage companies and contractors.