Tips for Preventing Identity Theft in Seniors

Identity theft can be a serious issue and lead to many problems. Protecting personal information is essential to warding off potential scams. Unfortunately seniors are often the targets of identity theft because by this point in their life they have often accumulated significant savings for retirement, have built high credit limits, possess lower debt, and may check their credit report less frequently since they are generally not making large investments.

There are several steps that seniors and their loved ones can take to reduce the risk of identity theft:

• Keep personal information in a safe place. Place financial statements, medical documents, credit cards, check books, and any other personal documents in a locked safe or other secure location. This can help to prevent it from getting into the wrong hands by being easily accessible. If your senior is in the hospital, leave all of their information with a trusted family member rather than leaving it in their room. Should the hospital need to see any insurance or verification, the family member can provide it.
• Shred any documents with personal information. Any papers with personal information such as full name, address, social security number, account numbers, birth date, or other essentials should be shredded before being thrown away. The same goes for financial documents. This can make it more difficult for thieves to acquire the information they seek.
• Don’t give out information over the phone. The phone is an easy way for scammers to get private information. They may ask for a social security number or account number before they say they will share important information. Be wary of providing any of these details over the phone. Carefully screen calls and register on the National Do Not Call List to help reduce telemarketing interactions. If you are suspicious of the caller, ask for a number to call them back on that will verify their company or identity.
• Make a copy of your Medicare card. Medicare cards often include your full social security number. To help prevent this information from being stolen, after a company has seen the original card, make a copy and black out the first 5 digits. Keep the photocopy in your wallet and lock the original in a safe place.
• Check your credit report. Periodically checking your credit report can help to identify fraudulent activity. Report any suspicious activity to the proper authorities and take safety precautions to prevent further use of your personal information.

Be mindful of how your personal information is being collected and used. Set up anti-virus and security software on your computer to help prevent theft. Pay attention to the sites you use and who has access to your information. Being proactive and taking the proper steps to protect your identity can help to reduce your risk of identity theft.