A clever idea for combating elder fraud

I’ve written about sweepstakes fraud before – a number of times, actually, since greater exposure means more people protected. But it’s difficult to reach everyone, and especially those who are most vulnerable to being victimized are also least likely to be surfing around on the internet.

2012-02-24-ScamArtist

Now comes serial entrepreneur Kai Stinchcombe, whose grandmother was being victimized by all sorts of fraudulent operators, and who wanted to do something about it. I can’t tell you in practice whether this works as well as the marketing materials promise, but the idea looks very good, and I would definitely recommend that anyone who had vulnerable elders who are financially autonomous or semi-autonomous check out True Link, a specialized debit card that comes built-in with customizable fraud protection.

The True Link Prepaid Visa card works like a regular Visa Card. What’s different is that you can prevent purchases at specific stores and types of merchants using a personalized fraud blocker. Plus, it alerts you immediately if any suspicious charges do occur. If you need help resolving these charges, our free customer service is on your side.

There is no fee for the first year, and subsequent years involve a very minimal $20.00 annual fee. I wish something like this had existed when my own mother was in her declining years – it would have saved her thousands of dollars, and given her family priceless peace of mind.

The Old Wolf has spoken.

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