In the Federal Trade Commission’s Consumer Sentinel Network report, they reported that 18% of identity theft complaints they received in 2020 involved victims ages 60 to 69. That is more than 179,757 reported frauds. For seniors aged 70 to 79, there were 11%, or 110,959 reports, while 4% was ages 80 and older (40,819 reports).

A senior could be a target for fraudsters, so it’s important to protect seniors from becoming a victim.

What is senior identity theft?

Although anyone can be a victim of fraud, seniors are particularly at risk. They are more vulnerable for reasons including:

  • Having more savings and good credit scores making them more attractive to fraudsters.
  • Being polite and trusting.
  • Being ashamed, afraid, or embarrassed to report fraud.

What types of scams?

Thieves can target seniors in several ways, including:

  • Telephone scams: Thieves gain seniors’ trust to get personal and financial information that they can use to commit fraud.
  • Internet scams: Cyberthieves get personal data through email by sending what looks like legitimate messages asking for information such as account numbers and Social Security numbers.
  • Medicare or other medical identity theft: Someone claiming they are with your health care provider asks for missing personal information from your medical records.

Read more about identifying common scams, including grandparent and romance scams, and how to avoid them.

How to fight identity theft

Protecting yourself and your loved ones from identity theft is key no matter the age. You should:

  • Hang up the phone: If someone asks for personal or financial information, don’t provide it, and hang up. If they claim to be from your bank or credit card company, call the number you have. If you don’t recognize the number, you can also let it go to voicemail.
  • Use direct deposit: You should consider having any benefit checks including Social Security deposited directly into your account.
  • Watch out for family: Make sure to surround yourself with trustworthy family members. Reports say that most of the elder abuse is committed by someone in the family, mostly by their adult children.
  • Review your statements: Regularly check your bank, credit card, and other statements for questionable transactions. Contact your bank or credit card company for any fraudulent charges.
  • Shred documents: Any documents that have personal or financial information should be shredded, making it difficult for thieves to steal your identity.
  • Don’t click unknown links: Avoid clicking on email links or attachments even if the message appears to be from a legitimate source. It could put not only your personal information at risk but also your computer.

How can we help?

For more information on identity theft, visit our identity theft section on our website. We break down more tips and tricks to protect your identity and what to do if you fall victim.

The information in this article was obtained from various sources not associated with Adirondack Bank. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. Adirondack Bank is not responsible for, and does not endorse or approve, either implicitly or explicitly, the information provided or the content of any third-party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. These suggestions are not a complete list of every loss control measure. Adirondack Bank makes no guarantees of results from use of this information.

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