The Tom Dupree Show

Financial Fraud Protection: Tips to Safeguard Your Retirement Savings

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Protecting Your Wealth: How to Avoid Financial Fraud Targeting
Episode Overview

In this eye-opening episode, Tom Dupree and Mike Johnson tackle the critical issue of financial fraud targeting seniors and mature investors. With over $3.4 billion lost to fraud schemes by Americans over 60 in 2023 alone, this discussion couldn’t be more timely.

Key Highlights
  • The alarming 11% increase in senior financial fraud from 2022 to 2023
  • Real case study of a sophisticated impersonation attempt caught by Dupree Financial’s security protocols
  • Why face-to-face relationships with financial advisors provide crucial protection against fraud
  • Common red flags in fraud attempts, including urgency and requests for third-party payments
    • Expert Insights
    • The importance of skepticism in protecting your wealth
    • Why local financial relationships offer better security than remote services
    • How fraudsters use technology, including AI voice manipulation
    • The role of proper investment mindset in avoiding scams
      • Warning Signs of Potential Fraud
      1. Urgent requests for immediate money transfers
      2. Claims of health issues or emergencies preventing in-person meetings
      3. Requests to send money to third parties
      4. Changes in contact information or communication patterns
      5. Pressure to act quickly without proper verification
        6. Protection Strategies
        • Never send money via gift cards or wire transfers to unknown parties
        • Avoid clicking links in unsolicited emails or texts
        • Verify identity through face-to-face meetings
        • Be wary of pressure tactics and urgent demands
        • Work with local financial professionals who know you personally
          • Bonus Investment Wisdom
          • The value of focusing on fundamentally sound investments over get-rich-quick schemes
          • Why chasing trends can lead to poor financial decisions
          • The importance of maintaining a “skeptical optimist” mindset
            • About Dupree Financial Group

            If you’d like to learn more about protecting your investments or schedule a consultation, contact Dupree Financial Group:

            • Phone: 859-233-0400
            • Website: dupreefinancial.com
              • Additional Resources

              For more episodes of the Tom Dupree show, visit our website and click on the radio tab at dupreefinancial.com

              Disclaimer: This episode is for informational purposes only and should not be considered as financial advice. Always consult with qualified financial professionals for your specific situation.

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              The post Financial Fraud Protection: Tips to Safeguard Your Retirement Savings appeared first on Dupree Financial.

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