Madigan warns seniors of financial scams during down economy

 

Chicago, IL – Illinois Attorney General Lisa Madigan met with older citizens in suburban Glenview to raise awareness about how to avoid consumer scams in their community. Madigan warned of debt settlement traps, fake check cashing scams, risky reverse mortgages and health care fraud that persist in an economic downturn.

“The best thing I can do is prevent seniors from being scammed out of their money in the first place,” Attorney General Madigan said. “Once you’ve wired away your money or given out your personal financial information, it’s very difficult to undo the damage.”

At an event hosted by state Sen. Jeff Schoenberg, Madigan spoke at the Glenview Senior Center, 2400 Chestnut Ave., as part of her continuing Silver Beat program. The Attorney General launched Silver Beat to help ensure that older citizens have the resources and knowledge necessary to protect themselves from scam artists who, far too often, target seniors in a wide range of scams, exploitation and fraud.

Madigan’s office has held Silver Beat trainings throughout the state since she launched the initiative in March 2010. The trainings are designed for Silver Beat participants to become experts themselves, enabling them to educate others within their own communities on avoiding financial abuse.

To learn more about this program or attend or host a Silver Beat program, contact the Attorney General’s office at 312-814-3000.

For more information on all consumer issues, visit Madigan’s website, www.illinoisattorneygeneral.gov, or contact her Consumer Fraud Hotline, (800) 386-5438.