Minimizing Risk of Elderly Identity Theft

  • Identity theft happens to seniors in many different ways. Seniors may not be familiar with security issues related to social media and technology, causing them to be the target of romance and phishing scams. They could also fall for phone scams because they fear losing benefits or government assistance.
  • Some common types of identity theft and misuse with seniors include open lines of credit or loans using the victim’s personal information, targeting government benefits and impersonating loved ones.
  • Seniors can protect their personal information by using a locking mailbox for incoming mail, shredding unneeded personal documents, not sharing personal information unless necessary, regularly checking their financial statements for unusual activity and following safe social media privacy guidelines.
  • For more information, contact the Identity Theft Resource Center. Anyone can speak with an expert advisor toll-free by phone (888.400.5530) or via live chat by visiting our company website, idtheftcenter.org.

Economic abuse or exploitation can rob senior citizens of self-esteem and trust, as well as deplete their bank accounts. Elderly identity theft and misuse have been rising through social media and other means, and the results can be devastating. Throughout the COVID-19 pandemic, identity crimes have targeted older Americans. According to the Federal Trade Commission (FTC), there were over 330,000 fraud reports for people over 60 years old in 2020. That number increased by over 130,000 in 2021.

How Identity Theft Happens to Seniors

These incidents are often the result of exploitation from a relative, friend or caretaker. Elderly identity theft also occurs in the form of scams and data breaches.

Scammers and identity thieves target older adults for a variety of reasons. Seniors may not be familiar with security issues related to social media and technology, even though they are often online, causing them to be the target of romance and phishing scams. They could also be more likely to fall for phone scams because they fear losing benefits or government assistance. There is also the belief that the older population has higher cash reserves, making them more lucrative targets.

Older adults living in residential facilities or under another person’s care are at greater risk because the caretakers and their household members can access the senior’s personally identifiable information (PII). This creates an opportunity for unscrupulous or desperate individuals to exploit those in their care.

What Types of Identity Theft and Misuse Are Common with Senior Victims?

It’s important to remember that senior citizens are often targeted at the same rate and in the same ways as other adults and minors. However, they are susceptible in different ways. In addition, some scams are specifically geared toward seniors. Identity thieves may engage in the following behavior for financial gain:

  • Open lines of credit or loans using the victim’s personal information, knowing they may not be able to check their credit report.
  • Target their government benefits, such as Social Security or Medicare.
  • Impersonate loved ones or like-minded people to trick them into wiring money or purchasing cryptocurrency.

Protecting Personal Information

Because seniors and their loved ones or caretakers are vulnerable in these ways, they should be vigilant about protecting their personal information.

  • Ensure the security and privacy of Social Security numbers (SSN), financial account numbers, credit cards, insurance cards and financial statements.
  • Use a locking mailbox for incoming mail, and drop outgoing mail directly into U.S. Postal Service (USPS) mailboxes.
  • Shred or otherwise destroy unneeded personal documents, receipts, pre-approved credit offers, unused or old checks and any other item that includes personal information.
  • Unless necessary, do not share SSNs, passwords, account numbers or answers to security questions, particularly to strangers who make contact by phone or email. Be aware of the dangers of phishing and that banks and government entities like the Internal Revenue Service (IRS) will never contact anyone and ask for this information.
  • Check credit reports and financial statements regularly for unusual activity.
  • Follow safe social media privacy guidelines, such as not accepting messages or friend requests from strangers or suspicious-looking accounts. Always go directly to the source for confirmation. For example, if an older adult’s grandson reaches out via email to ask for emergency funds, call him directly to find out if the request is legitimate.

Contact the ITRC

To learn more about minimizing the risk of elderly identity theft, or if you believe you were the victim of an identity crime, contact the Identity Theft Resource Center. You can speak with an expert advisor toll-free by calling 888.400.5530 or visiting our website to live chat during our regular business hours Monday-Friday 6 a.m.-5 p.m. PST. You can leave a message for an advisor if you contact us outside of our business hours and we will respond the next business day. Just visit www.idtheftcenter.org to get started.

This information should not be used in lieu of legal advice. Any requests to reproduce this material, other than by individual victims for their own use, should be directed to [email protected].

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