Identity theft is something that seniors need to be careful of. More than 20% of all identity thefts in the US each year impact seniors. That’s usually because seniors have retirement funds and great credit that can be attractive to thieves.
Seniors are also more likely to be victims of identity theft because they tend to be careless with their personal information. Often seniors carry important papers like their Social Security card in their wallet. And if they lose their wallet while shopping or drop it someplace it’s very easy for someone to steal it and steal that senior’s identity. Sometime the thief has drained a senior victim’s accounts before that senior even knows their wallet is missing.
Seniors often lose their wallets when they are out shopping or running errands. They may take their wallet out to count their cash or make sure they have their credit card and misplace it or drop it. Home care assistance can prevent this. When seniors have home care assistance they will have help with tasks like shopping. A care provider can help seniors manage their cash, hang onto their wallets, and make sure they don’t drop or lose credit cards.
But if a senior does lose or drop their wallet or if it’s been stolen that senior should immediately do these things to protect themselves from identity theft:
Call The Bank
Time matters when dealing with financial fraud or theft. Seniors should immediately call their bank and cancel or freeze all of their debit and credit cards. That will ensure that those cards can’t be used to make purchases or get cash advances. If the cards have already been used seniors should file a fraud report so that they don’t get stuck paying for those charges.
Freeze Credit
Seniors also need to freeze their credit. By freezing their credit seniors will be alerted if anyone tries to use their credit to do things like take out a loan, open a new credit card, get an apartment, finance a car, or perform any other major financial transactions.
File A Police Report
Even though the police will probably not be able to recover the wallet filing a police report is an important step. It documents that a senior’s personal and financial information may be compromised. It also shows that the seniors is not responsible for any charges or losses. The report shows that that the senior filed an official report stating that the wallet, charge cards, and other important financial information was stolen or lost at the time of the charges.
Enable Two-Factor Authentication On All Financial Accounts
Criminals may try to access bank accounts, credit card accounts, or investment accounts. Seniors should contact the bank and turn on two-factor authentication for all cards and accounts. That way if someone tries to use the accounts or cards seniors will get an alert and a code on their phone. Without the code the thief won’t be able to access the account.
Sources:
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7743147/
https://oig.ssa.gov/congressional-testimony/2002-07-18-newsroom-congressional-testimony-identity-theft-and-americas-senior-citizens/
If you or an aging loved one are considering home care assistance in Cleburne, TX, please contact the caring staff at Clear Path Home Care today. Call (817) 631-7710.
Clear Path Home Care provides compassionate, high quality home care in Parker County, Tarrant County, Johnson County, Hood County, Somervell County, Erath County, Bosque County and Hamilton County in Texas.
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