A draft aptly named seniors act to prevent fraud was introduced in Congress twice, once in 2013 and again in 2015. The Bill aims to establish an advisory office within the Office of the Federal Trade Commission's consumer protection that works to help prevent fraud targeting seniors. The advisory board would through market surveillance for mail, television, Internet and telemarketing fraud that specifically targets the elderly and inform seniors and their caregivers from all possible threats. A website will also be created with advice and resources. Unfortunately, the bill has not gained much traction and is being projected as having a chance to be adopted 1%.
Why most vulnerable elderly fraud
There are a number of things that make older Americans more likely to be targets - And victims - of fraud and identity theft. Sometimes it's a generational thing; many of today's seniors were raised in a time when people were more open and trusting each other. Other times, the elderly do not want to be seen as helpless by their families or guardians, to keep silent about things that trouble them. It can also be a question of how the brain changes as people age. A study by a UCLA psychologist in 2012 found older adults may have less activity in the areas of their brains that help the risk process and subtle danger. Older people tend to be more positive about life and the confidence of others, which can be a good trait but also leaves vulnerable to exploitation of this trust.
Unfortunately, no matter whether it is a specific reason or more, seniors are at risk of fraud and identity theft. It is important for people in their lives to understand these risks and do their part to protect the elderly they care about the many crooks hiding. As said aging expert Carolyn Rosenblatt in a recent Forbes article, it is not only a question of law enforcement or government action taking - seniors and their caregivers should also be alert
.What measures can help protect seniors from becoming victims?
1. Make sure caregivers are trustworthy. Unfortunately, a large number of identity theft are not committed by strangers; This is particularly the case with regard to the elderly, who are more likely to have caregivers some capacity with access to their homes and personal property. If you are the adult child of a person who needs care, be on the lookout for suspicious behavior and conduct background research necessary (or use a reputable company that performs background checks). Ensure that documents and other items containing personal and financial information is locked up where they can not be easily accessible, like a home safe or a safety deposit box at your local bank. This is also helpful if a crook door-to-door manages to get inside the house. Exit email or a checkbook visible on counters increases the risk of theft that could lead to fraud or identity theft.
2. Talk to them about common scams. The IRS publishes a list of "Dirty Dozen" each year that details the most common scams that people reported in that time period. This year, first place went surprisingly to telephone scams. Since the elderly are more likely to have landlines in their homes that people of other generations, it is very important they know to be on the lookout for potential scams and how to tell if someone tries the wrong. Some seniors may be reluctant to talk about fraud because they do not believe it is possible for them to become victims, but do not let that stop you. It is imperative that family members and caregivers are educated so they can better protect older people in their lives -. A great resource is StopFraud.gov, a website operated by the working group on financial fraud enforcement with tips and information for seniors and their caregivers
3. Keep an eye on their financial activity. Older people are major targets for scammers, especially their money and other assets. With more and more older people get online, not only are they at risk of mail and telemarketing scams, but they are also targets for email scams. Many of these scams involve sending money or provide credit card information to keep an eye on the finances of your parents can help you identify any potential fraud as it happens. Some scammers who target seniors offer tests or medical equipment free or at reduced cost, ask the credit card or bank account for the product to receive. Make sure your primary understands that the old adage, "If it's too good to be true, it probably is," still applies in this day and age.
4. Inscrivez- for the protection against identity theft. These services not only monitor financial and personal information of a person on the black market of the Internet, public records and other channels where it can be used and exploited by identity thieves, but most also provide real-time credit monitoring and access to your credit reports and scores. if your relatives are victims of identity theft to a protection service against identity theft can help make the messy process of restoration fewer headaches. AARP credit and identity theft protection from TrustedID offers reasonably priced identity protection against theft for members 50 or older, with both individual and family options plan. The individual plan covers one adult and costs $ 9.17 / month with a one-year subscription, while the family plan protects two adults and two children or grandchildren and 25 or younger for $ 17.50 / month with an annual subscription. Learn more about this service and help by reading our in-depth reviews.