Being a senior means having a different lifestyle than younger generations. You don’t have kids around, you can plan your days according to your wants and needs, and free to take the day and go to the beach if you want to. Not all of the differences in a senior lifestyle are fun, though.
Many seniors deal with major health issues and so have more people in and out of their home. Caregivers and family members are in and out helping with everyday living needs or even just visiting. As a senior, it’s also possible that you’re fighting for your independence, so you even when you need help you won’t ask for it.
Unfortunately, the very differences that set seniors apart from younger generations are the same ones that make seniors attractive targets for identity theft. Add to that the fact that most seniors have spent their lives building credit-worthiness and retirement funds, and that seniors can be far too trusting, and senior identity theft becomes a problem that’s on the rise.
Because they do make such attractive targets, seniors should be especially vigilant about protecting their identities. Personal information should be guarded closely. Checks, credit cards, Social Security Numbers, Medicare cards, and mail are the most sought after source of information for identity thieves.
Protecting that information is essential. These steps can help seniors to prevent identity theft:
- Be wary of friends, family members, or caretakers that start asking for small loans or give you stories of hard times, financial hardships, or being victimized by crime. Some criminals will try to play on your emotions to gain access to your identifying information or your financial capabilities.
- Keep your personal and identifying information in a safe, locked away from visitors to your home. Bank statements, credit card statements, Medicare statements, and other personal documents offer a wealth of identifying information. And since identity theft is often a crime of opportunity, finding such information may present the opportunity that even people you trust can’t resist.
- Have your mail delivered to a Post Office box instead of your home address. If it’s not possible for you to pick your mail up from the post office, try to make arrangements with the Post Office to have your mail delivered directly to your door. And always take outgoing mail to the Post Office rather than letting it sit in your curb-side mail box.
- Shred or burn any documents that contain personal information.
- Opt out of direct mail credit offers by calling the Federal Trade Commission’s OPTOUT line at: 1-888-567-8688. Direct mail and credit card contain too much personal information. Identity thieves love to find them in the trash.
Don’t carry your social security card in your purse or wallet unless you know you will be required to show it. Memorize the number and keep the card locked in your safe or safe deposit box. - If you use paper checks to access the funds in your checking account, don’t have them delivered to your home. Instead, have them sent to a Post Office box or to your financial institution where you can pick them up.
- Don’t have your home phone number, social security number, driver’s license number, or date of birth printed on your checks. In fact, if you have a Post Office box, use that instead of your home address on your checks.
- When ordering checks, use only your first and middle initials with your last name, but sign the bank signature card and checks with your full name. This will alert the bank to any suspicious activity.
- If you have an ATM debit card, request the bank change it to an ATM only card. These require a pin number and can only be used to withdraw money from the ATM machine, and then only with the correct pin number. If the card is ever compromised, most banks limit on how much money can be withdrawn from an ATM in a day, which could reduce your liability if the card is lost or stolen.
- When paying credit card bills by check, write only the last four digits of the account number on the check memo line. This prevents your credit card number from falling into the wrong hands.
- Don’t sign the back of your credit and debit cards. Instead, PHOTO I.D. REQUIRED FOR USE in the signature space. Then when a merchant takes the card to verify it, they should request your ID before completing the transaction.
Keep a list of your credit card numbers and contact numbers for the credit card companies stored in your save or safety deposit box. If your card is lost or stolen, you need this information to cancel the account.