Consumer Scams in New York City

Complaints about unscrupulous accountants, insurers, and others in the financial services sector top the list of consumer grievances in New York. According to the Better Business Bureau, they have recieved more than 6,000 financial services complaints in New York City alone, but scams targeting the city's elderly are the most among the complaints. 

United States Postal Inspector Emily Tarrats says fraud involving phone calls and mail remain the most effective scamming mechanisms against the elderly. "They'll recieve a phone call. The fraudster on the other line will spend a long time on the phone with them and trying to befriend them through several calls. They will encouage [the elderly] to wire money in order to receive a prize, and then they will never hear from [the fraudster] again," says Tarrats. 

President of the Better Business Bureau Claire Rosenzsweig claims she sees these scams time and time again. She says, "The scams are as old as the hills, it's just the stories change. Look out for the red flags."

According to the Better Business Bureau and Postal Inspector services, the best way to avoid fraud is to stay informed and be wary of the too-good-to-be-true scams.