When most people think of elderly abuse they think of neglect, physical, sexual or psychological abuse. There is another form of elder abuse or abuse of senior citizens; that of “using the money or resources of an older person without their knowledge or consent to benefit yourself or another person.” Identity theft falls into that category, as family members, caregivers and strangers may take advantage of the elderly in an effort to gain their hard earned money and credit report.
Why is the elderly targeted for identity theft and financial crimes?
-In some cases they may have more money, cash reserves, home equity, and other resources that others as they may have been working for retirement all their lives.
-Many seniors are not “technologically savvy” so may not be aware of many of the scams that are based around Internet usage.
-Since seniors may not be actively “using” their credit report they are less likely to check it regularly and monitor it carefully.
-Retirement home staff, home caregivers and family members may take advantage of their position of trust as well as the information readily available to them.
What forms of abuse may identity theft and other financial scams take?
-investment fraud
-mortgage fraud
-phony charity solicitation
-so called “prize” money awards where they must provide information that can be used later against them
-check cashing fraud
-credit card fraud
-forging signatures to benefit in a financial way (cashing checks that came to the elderly)
The saddest part of all about identity theft, financial scams and frauds against the elderly is that far too often it is committed by someone in a position of trust, like a caregiver or family member. (Full text at www.examiner.com)
Remember, estimates are that every 2-4 seconds an Identity is compromised. Why take chances? Why not protect yourself and your loved ones with the best suite of services provided (including restoration) by the best NYSE company in the field? Educate yourself and visit the shameless plug below or call me at (909) 208-3728!
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