Seniors are often targeted for ID theft – but they can take steps to prevent becoming victims

October 7, 2010 – 9:57 am

Senior adults are unfortunately often the target for lots of scams and cons, but these scams increase when there’s an economic downturn.

Some of the most common scams targeting seniors today include:

• The grandchild scam: Grandma gets a frantic call from her grandson that he’s in a situation and needs Grandma to wire him some money immediately. If you receive such a call, you should take down the caller’s information, and then call your relatives. Find out if your grandchild is okay. Odds are they are fine. If the caller tells you there’s no time to call the relative or tries to discourage you from calling your relatives, that should be a huge red flag.

• The transfer agent: This con involves getting a retiree to work as a secret shopper or even by telling you that you’ve won a foreign lottery. But either way, the end result is that the scammer will tell you he’s sending you a check. You’re supposed to deposit it into your bank account so that you can wire the money, minus a percentage for you, back to them. Once you’ve deposited it and wired the money however, you’ll find the check is fake. You should just steer clear of these situations. Companies don’t recruit secret shoppers this way, and you can’t win a lottery you didn’t enter.

• Identity theft: When someone poses as someone else in order to get money or services, or to defraud someone else, it’s called identity theft. Thieves target the elderly in ID theft scams because the elderly can be so trusting. Don’t be. Never give your information out to anyone over the telephone, or if someone calls to “verify” your bank or credit card information, don’t give them your information either. Your bank and credit card companies have that information on file, and have no need to call you to verify it.

You should be sure to shred all documents that contain any of your personal information, and don’t keep that information out in plain sight inside your home, particularly if you have caregivers in your home.

Remember: it’s not rude to ask questions, be cautious or keep your information safely tucked away. You wouldn’t leave your money or precious family heirlooms lying around…you shouldn’t leave your information lying around either.

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