Protecting the Elderly from Identity Theft

Seniors are a highly targeted population for identity theft and fraud in the United States. The reasons for this are plentiful, and those of us with aging parents or grandparents often want to do anything we can to protect them from being exploited or victimized by identity theft. Florida is known for being a destination for retirement, meaning our Florida identity theft attorney has seen many cases of identity theft in the elderly population. Sharmin and Sharmin have worked with the Florida community for over 20 years. They can help you repair issues derived from identity theft and educate you on ways to protect yourself in the future. 

Why are the Elderly Targeted?

Unfortunately, according to an article by Equifax, one of the main three credit reporting bureaus, those who are determined to commit identity theft often target the elderly. A few reasons influence this:

• Financial Reserves: Many elderly people, especially in Florida, have sizeable nest eggs for retirement and access to financial resources through Social Security retirement benefits
• Often more isolated as friends and spouses pass away
• Decreased mental faculties with aging can make them easier to scare or confuse and, therefore, manipulate
• Membership in multiple government programs that can provide benefits for identity thieves
• Membership to several programs may also mean their PII is stored in more locations, therefore making it more vulnerable to theft

Scams that Target the Elderly

Some of the more common scams that the elderly may be more vulnerable to can trick someone into providing authorization or approval that the scammers can then take advantage of to steal additional information. The National Council on Ageing provides a couple of examples of this to include:

• Computer tech support: This may flash a blank screen telling the user their device needs to be fixed and provide a number. When the user calls, the scammer may ask for remote control to the device or payment to ‘fix’ it
• Impending lawsuit scam: When someone calls and pretends to be a government official or police officer and tells the elderly person they will be in trouble if they do not provide credit card information to pay a fine immediately

Preventing Identity Theft in the Elderly

The two critical parts of preventing identity theft for anyone, including the elderly, are education and monitoring. For example, our older family members should be aware of the types of scams targeting them and the methods people may use to steal their information and identity. Many identity thieves will gather information from:

• Documents that were not adequately shredded
• Data breaches from doctor’s offices or other agencies that may have access to your information
• Information provided on social media
• Phone scams to trick you into providing your information

When it comes to attempts to steal your identity over the phone, we can empower our elderly population to hang up if someone asks for money or important information and encourage them to call the organization back at the number provided by a trusted source such as a bill or document mailed from the organization, or their website. 

Check Your Credit Report

In addition to education, one of the most important things you can do to prevent identity theft is regularly checking annual credit reports for unusual activity. This provides an opportunity to catch any fraudulent charges or account activity. If you are concerned about identity theft, you may file a report with the Federal Trade Commission and benefit from speaking to an attorney.