I hear a lot of stories about senior citizens being defrauded. However, our press has no time for doing such stories. Sad state of affairs. Do you think we will ever see such articles in the Indian press?

No way. We just don’t have enough data on how we behave. For example do we know why and how many frauds happen in India? No.

We have no data regarding many such things…but here is an interesting article about India…read on…

http://financialadvisoriq.com/c/2223743/269053/retirement_account_fraud_tripled?referrer_module=emailMorningNews&module_order=7&login=1&code=ZEc5dWVVQndaWEp6YjI1aGJIQnNZVzV1YVc1bkxtTnZMbTU2TENBMU5EVTVPRFV6TENBeU5Ea3pPRFEzTWc9PQ

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  1. Sir,

    The link takes us to Financial Advisor IQ dot Com.

    There, the article talks about some other article, which in turn talks about a web post (wealth mgmt dot com and Javelin Strategy dot com).
    The original content was posted on 06-03-2019, with no comments till date.

    Why don’t we share the link of the original content itself, which is:
    https://www.javelinstrategy.com/coverage-area/2019-identity-fraud-report-fraudsters-seek-new-targets-and-victims-bear-brunt
    which is a pay on use article.

  2. One instance I saw today… a senior citizen lady was in the Bank’s FD counter renewing or opening few FDs…the bank person responsible for FDs looked at the form and recommended that she should put part of the money in the Bank’s MFs since it gives monthly interest and the corpus will only grow… Interest mentioned was 7.5%…Fortunately the person in question did not take the bait.

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