According to the Federal Trade Commission, telemarketing fraud now costs Americans at least $40 billion a year. It amazes us that even with all the information distributed through the media, victimization by telemarketing fraud continues to be the single largest cause for consumer letters to “Consumer Forum,” Northeast COMBAT and the Maine Center for the Public Interest.

Prevention is your best defense. We suggest you clip this article out and post it on your refrigerator to remind you of the most common frauds – and what to avoid.

Prize offers: You usually have to do something to get your free prize, such as buy products you don’t really want or give your credit card number “just for verification.”

Travel Packages: “Free” or low-cost vacations can end up costing you a bundle. Often the promoted travel deal requires you to pay hidden charges, for either an expensive hotel room or for the full cost of travel for a second person.

Investment: People lose millions of dollars to “get rich quick” schemes that involve gemstones, rare coins, oil or gas leases, interactive TV licenses, or other “business opportunities.”

Recovery ploys: If you’ve fallen prey to any of the above scams, you could get a call promising to get back or “recover” the money you’ve already lost. Of course, this comes at a price and you end up being cheated twice.

How can you protect yourself from telemarketing scams?

. Don’t buy from an unfamiliar company.

. Ask for, and wait until you receive, written information about the offer.

. Check out unfamiliar companies or suspicious offers by writing to “Consumer Forum” before you respond. If it is a reputable company, the offer will wait.

. Don’t be pressured into a decision.

For years, consumer advocates have urged potential fraud victims to “just hang up” when telemarketers offer “too good to be true” luxury prizes and surefire “double your money” investments. Many people, especially senior citizens, are simply not saying “no.” We must do more to stem the estimated $40 billion that Americans lose every year to telemarketing fraud.

Many older adults grew up at a time when a person’s word meant something. A handshake was a solid deal. That is no longer the case but unfortunately many learn the hard way that the rules have changed. Complicating the problem, many senior citizens are in tight financial circumstances. For them, the easy money schemes become all the more tempting.

There are many legitimate telephone marketers. But many are what we refer to as “telephone muggers.” People who use illegal telemarketing tactics to dupe consumers out of their money are not salesmen or saleswomen. They are crooks and criminals. They do with sweet-sounding sincerity, threats, or high pressure on the telephone what muggers do in person. They steal your money!

Winning a prize from a reputable organization is truly one of the few things in life that is free. You should never have to pay more than the price of a postage stamp to enter a legitimate sweepstakes or to collect a “winning” prize.

So the next time your telephone rings with a “too good to be true” offer, stay awake. Remember that there is no free lunch. Try to avoid being that legendary “sucker born every minute” or the “fool and his money” who are often soon parted. Glance at this article on your refrigerator. Then hang onto your wallet with one hand and hang up the phone with the other.

Consumer Forum is a collaborative effort of the Bangor Daily News and Northeast COMBAT. Send questions to Consumer Forum, Bangor Daily News, P.O. Box 1329, Bangor, Maine 04402-1329. COMBAT is a nonprofit organization with annual dues of $10. For membership information, write to the above address.