With the number of retirees and seniors increasing each year, another figure also seems to be on the rise annually — the number of identity theft cases.
According to the Federal Trade Commission, reports of identity theft targeting seniors have increased several hundred percent over the past few years. And the elderly, who are often the most vulnerable of us, are usually among the least able to afford being defrauded.
But still, they’re being victimized on a daily basis. Among the scams recently reported to Better Business Bureaus nationwide:
• Telephone solicitors claiming to be from the federal government tried to sell “Medicare-approved” discount drug cards to seniors. Elderly people were told to supply their bank account information so that “the government” could confirm their identity.
• A person claiming to represent a “consumer benefits” group called to say that the senior’s bank account was affected with an Internet virus and offered her a $500 gift certificate for the inconvenience. A computer recording followed, requesting confirmation of the senior’s name and address and asking for authorization to charge the person’s bank account $395 for the gift certificate.
• Cash prize “winner” announcements received through the mail stating that “you have won $10,000” and requesting that $9.95 be sent to a P.O. Box in New York to “pay for a courier to deliver the winnings.”
Whether or not you see telltale signs of defrauding, it’s wise to remind your elderly relative or friend to follow these 10 commonsense practices:
• Guard your Social Security Number. Don’t give it out, don’t carry it in your wallet or purse and definitely do not have it printed on your checks. If your number is stolen, contact the Social Security Administration fraud line at (800) 269-0271 immediately to place a fraud alert on your name and SSN.
• If you carry a wallet or purse, photocopy the contents. Copy both sides of each license, credit card, insurance card, etc., then put the photocopy away in a safe place. That way, if your wallet is stolen, you’ll have a record of everything that was in it.
• Immediately cancel any credit cards that are lost or stolen, then call the three national credit-reporting organizations: Equifax at (800) 525-6285, Experian at (888) 397-3742 and TransUnion at (800) 680-7289, as well as the Social Security fraud line. Also, file a police report immediately in the jurisdiction where the theft or loss occurred.
• Be cautious of unexpected e-mails. Although they may appear to be from a legitimate company, they’re probably scams. Most companies do not e-mail you asking you to send your personal information to them over the Internet. If you’re suspicious, contact the company.
• Never pay money to win a prize or sweepstakes.
• Contact the Better Business Bureau before responding to a product or service offer or an appeal from a charity.
• Never give out credit card or bank account numbers to unknown callers.
• Never wire money to strangers.
• Report all questionable calls to the Better Business Bureau before responding to an offer.
• Never place outgoing bill payments in an unsecured mailbox, since thieves are adept at taking the envelopes, steaming them open, copying important information and stealing that person’s identity.
Also, the U.S. Postal Inspection Service offers a free DVD on investment fraud called “Dialing for Dollars.” To order it, call (877) 987-3728 or visit www.usps.com/postalinspectors.
According to the Federal Trade Commission, identity theft is significantly smaller if the misuse of personal information is discovered quickly. And it’ll be even less of a hassle if you take the necessary steps to guard your identity from thieves.
If you believe your identity has been stolen, report the crime to authorities and the FTC at (877) ID-THEFT.