In many cultures worldwide, community elders are well-respected and revered for their life experiences and contributions to society. However, it’s also important to understand that senior citizens are considered a vulnerable group, due to the impact that old age can have on their mental and physical health. Unfortunately, this leaves older adults more susceptible to manipulation, especially in the form of identity theft. If you are older or care for an elderly loved one, understanding how older adults are targeted and the steps they can take to protect themselves is critical. You should also strongly consider connecting with a Michigan senior identity theft lawyer if you have reason to believe identity theft has occurred.
Why Do Thieves Target Senior Citizens?
Unfortunately, one of the most vulnerable groups in society, elderly adults, are often the targets of identity theft. This is due to a number of reasons, with the most common being an unfamiliarity with technology. Though most adults understand the basic function of devices, they may not understand the importance of avoiding public WiFi networks or how to identify and avoid phishing scams. As such, they may be more susceptible to identity theft as they may make errors that can impact the security of their accounts.
Additionally, seniors can be targeted as they may not check their accounts as frequently as younger adults. As you grow older, you may not need to apply for things like apartments, mortgages, or auto loans, meaning you may stop checking your online accounts or credit score. As such, thieves know their schemes can go unnoticed for longer periods, making older adults prime targets for identity theft.
Finally, many elderly adults have increased funds due to retirement and investment accounts. As such, they are often targeted as there is a higher chance that thieves can take more assets. Unfortunately, you may find that caretakers or family members can perpetrate this theft, as they understand the extent of their loved one’s finances and have easier access to their information.
What Steps Can Older Adults Take to Protect Themselves?
One of the most important steps older adults can take to help prevent identity theft is to request a credit freeze. This essentially locks your credit report so it cannot be accessed. In the event you want to apply for a new line of credit, you can “unfreeze” the account so the creditor can access your information. This helps prevent thieves from opening accounts in your name.
Another important step is to ensure you monitor financial statements. Though you may not be making as many transactions in your older age, reviewing monthly statements can help you quickly identify any unusual or unauthorized purchases so you can quickly remedy these matters.
Finally, it’s important to verify those who contact you. If you receive a phone call from someone claiming to be from your bank, for example, you should ensure the phone number they have called from is associated with your bank by ending the call and using the phone number listed on the bank’s official website to call them for verification. Similarly, if you receive a text message, you should not click anything or reply until you have contacted the institution to verify the communication.
As you can see, senior citizens are often taken advantage of, which can lead to financial ruin. That is why it is critical to connect with an identity theft attorney as soon as possible if you or a loved one have reason to believe identity theft has occurred. At Lyngklip & Associates, our dedicated team can work with you to determine the best course of action for your unique circumstances. Do not hesitate to contact us if you believe your identity has been compromised.
