Tips to help seniors avoid investment fraud

Here are some things seniors can watch for to avoid getting caught up in fraud:

• Understand fraudsters' sales tactics and be more skeptical of what's presented.

• Beware of people who promise spectacular profit, such as "your money will double in six months."

• Never send money to a firm you're hearing from for the first time simply because of a telephone pitch.

• Don't be rushed into a deal you don't understand.

• Watch out for people who prey on your fears.

• Be wary if things you were promised aren't materializing. For example, interest isn't credited to your account or payments you were promised aren't being made on schedule.

Source: The Associated Press; Mary Schapiro, vice chairman NASD; Patricia D. Struck, president of the North American Securities Administrators Association Inc.