$1* Buys $100,000
Globe Life Insurance
Free Quote—Apply in Minutes
Fast Approval Process
$2.17 for Children or Grandchildren
How To Protect Seniors Against Identity Theft
People of all ages have experienced identity theft. It has become a common problem in the age of advanced technology. Scamming people out of their life savings is on the rise and unfortunately, seniors have become a frequent target for fraud and identity theft.
With the increased prevalence of fraud and identity theft against seniors in the United States, a bill named the Seniors Fraud Prevention Act was introduced in Congress on two separate occasions in 2013 and 2015. The bill, however, never gained much ground in the House and was never enacted.
Financial institutions have started to be more proactive about monitoring suspicious transactions. Many of them would like a bill to be passed on a federal level that will protect elderly seniors against fraud and identity theft.
Studies have been conducted to discover why the elderly seem to be at such a greater risk than other Americans. One study performed by a UCLA psychologist in 2012, found that older adults may have decreased brain activity in certain areas which hinders the ability to process risk and subtle dangers. Other reasons that seniors may fall victim to fraud and identity theft could simply be the generation they were raised in. Many seniors were brought up in a time when they were able to be more trusting of people. Another reason seniors may succumb to fraud and identity theft may be that they want to maintain their independence and make their own decisions without asking someone for advice or assistance.
There are steps, however, that can help protect your elderly loved ones avoid scams.
First, interview and do background checks on caregivers that provide services for your senior loved one. Often identity theft and fraud is committed by caregivers because they have easy access to their personal property and information. It is also a good idea to keep your loved one’s personal documents containing financial information in a safety deposit box. In addition, clearing the counter tops from mail or checkbooks and keeping them in a drawer can also help prevent your loved one from becoming a victim of a scam.
You can also talk to seniors about how to discern a phone call from a stranger that could be trying to trick them into giving out personal information. It is imperative that you keep your loved one and their caregivers alert and educated regarding any potential new scams they could fall victim to. A great resource to help your elderly loved one from becoming a victim of fraud and identity theft is a site run by the Financial Fraud Enforcement Task Force called StopFraud.gov. The IRS also publishes a “Dirty Dozen” list every year that describes the most common scams people have reported. Surprisingly, phone scams are still at the top of the list. This could be possibly be due to the elderly are prone to still have land lines in their homes, making it easier for scammers to contact them.
As more seniors are becoming computer-savvy for online shopping, bill paying, banking and even social media, they have also become an even bigger target for email scams. Scammers have learned new ways to gain access to personal financial information of the elderly by offering to provide discounts on medical tests or equipment upon receipt of their bank account or credit card information. Therefore, it is important that you are aware of your loved ones’ financial activity. Make sure they understand that when a stranger requests personal financial information to receive discounted services, it is probably nothing more than a scam.
Another great way to prevent your elderly loved one from becoming a victim of identity theft and fraud is to sign them up for a theft protection program. Many identity theft protection services will not only monitor personal and financial information, they can also monitor credit reports and scores and alert you to any suspicious behavior.
You might also be interested in...
- 4 Important Safety Measures For Seniors
- 5 Scams Seniors Should Watch Out For
- 5 Telltale Signs It’s Time To Stop Driving
- 6 Sports Seniors Can Enjoy
- 7 Ways To Feel Younger
- Aging In America
- The Best Low Maintenance Pets For Seniors
- Budget-Friendly Vacations with Perks for Seniors
- Can Eating Cherries Alleviate Arthritis?
- How To Choose A Medicare Supplement Plan
- Could You Live On Social Security?
- Does Your Elderly Loved One Need More Care than You Can Give
- Is Your Elderly Parent Feeling Lonely
- Five Health Tips for Men over 50
- Five Health Tips for Women over 50
- Five Tips for Helping Seniors Stay Active
- Helpful Tips for Adjusting to an Empty Nest
- Home Safety Checklist for Single Seniors
- Home Safety Tips for Seniors Living Alone
- How Seniors Can Improve Their Posture
- How Seniors Should Stock Their Kitchen
- How to Be a Good Husband in Retirement
- How to Change Your Life in 10 Days
- How to Do Container Gardening for Seniors
- How to Find Happiness in Your Senior Years
- How to Grow Easy Houseplants for Seniors
- How To Help Your Senior Parent Stay Mentally Healthy and Happy
- How to Simplify Housekeeping for Seniors
- How to Stay Looking Sharp for Senior Men
- The Importance Of Keeping Seniors Hydrated
- Is Chiropractic Care Safe For Seniors?
- Is Long-Term Care Insurance Necessary
- Patio Gardening For Seniors
- Preparing For Retirement
- Pros and Cons of Living in a Retirement Community
- How To Protect Seniors Against Identity Theft
- Senior Life Insurance Pays for Funeral Costs
- Senior Summer Safety
- How Seniors Benefit From Adopting Senior Pets
- How Seniors Can Decorate With Unique Framed Art
- Seniors & The Social Life
- Seven Power Foods for Seniors
- Tips for Seniors: How to Upgrade Your Bed for a Better Night's Sleep
- Tips For Seniors On Improving Your Immune System
- Tips for Seniors on How to Stock a Gift Drawer
- Top Travel Safety Tips for Seniors
- Understanding Medicare Part D Plans
- Reasons Why An Elderly Loved One May Not Be Eating
- Why Seniors Need The Flu And Pneumonia Vaccines
- You Won't Believe How Easily You Can Stall Aging
- How To Choose Low Income Housing For Seniors
- 8 Unique Gifts For Seniors
- Activities For Senior Citizens
- 7 Winter Safety Tips For Seniors
- 5 Questions To Ask When Considering A Continuing Care Retirement Community
- How Long Should You Wait To Claim Social Security
- Signs And Symptoms Of A UTI In Seniors
- How To Deal With The Emotions Of Retirement
- How To Help Seniors Fight Depression
- How Seniors Can Save More Money
- What Services To Expect From Assisted Living Centers
- How To Live A Long Life
- Top 3 Dental Risks For Seniors
- Choosing The Right Assisted Living Facility
- Different Ways To Ease Knee Pain
- Why Assisted Living Centers Allow Pets
- 4 Surprising Health Hazards You May Have In Your Home
- 5 Mental Exercises To Increase Happiness
- Why Seniors And Caregivers Need To Laugh More
- How To Reverse The Effects Of Arthritis
- 6 Exercises That Won’t Hurt Your Joints
- Driving Safety Tips For Seniors
- 4 Natural Ways To Combat Feeling Dizzy
- Senior Life Insurance is a Worthwhile Investment
- Tax Breaks Every Senior Should Know
- How To Make Money During Retirement
- 5 Phone Scams Targeting Seniors Now
- How Technology Can Keep Seniors Safe
- How To Not Go Wrong When Choosing A Nursing Home
- Disaster Checklist For Seniors
- How Visiting Seniors Often Can Keep Them Healthier
- How To Make A Senior’s Day
- Internet Safety Tips Every Senior Should Know
- 5 Ways To Strengthen Aging Bones And Muscles
- How Senior Yoga Can Be A Lifesaver
- Live Longer By Volunteering
- Managing Pain For Seniors
- 6 Everyday Ways For Seniors To Stay Active
- Bad Habits That Make You Age Faster
- Fall Prevention For Seniors
- 6 Ways For Seniors To Budget For Life Insurance
- Summertime Resources For Seniors & Caregivers
- 5 Simple Ways Seniors Can Get Free Help
- Navigating Ride Programs for Seniors
- What’s Preventing You from Receiving Medicare Supplemental Insurance?
- Can You Outlive Your Life Insurance?
- Medicare Part B Plus Medigap vs a Medicare Advantage Plan: Which is better?
- 3 Things to Know about Senior Life Insurance
- Do Medicare Supplement Plans Cover Pre-existing Conditions
- What is Final Expense Insurance and Who Should Buy It?
- Does Medicare Pay for Prescriptions?
- Advocating for a Hospitalized Parent or Grandparent
- How Do You Choose the Best Medicare Coverage?
- Key Signs it’s Time to Get In-Home Care or Move to an Assisted Living Facility