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Last Updated: Jul 2nd, 2008 - 21:15:22 |
(ARA) – Identity theft can strike anyone at any time. For seniors who may have spent a lifetime building their nest egg and looking forward to retirement, identity theft can be especially devastating. In fact, according to the Federal Trade Commission, a growing number of seniors are being defrauded every year -- leaving many to face the difficult task of restoring their credit health and hard-earned financial well being.
A number of factors make today’s senior population an attractive target for identity thieves. A reserve of money, a higher likelihood of being home when identity thieves come calling and increased vulnerability due to time spent alone with caretakers are just some of the factors that can make seniors more susceptible to this type of crime.
While there is no perfect solution to prevent identity theft, there are a number of steps senior citizens and their families can take to safeguard their personal information.
Guard your cards
Limit the number of credit cards you carry. If you misplace your credit card, contact the credit card company’s fraud division immediately. Keep close watch over your credit card bills and billing cycles. If a bill arrives late or you notice unusual activity on your statement, contact the credit card company to ensure the card hasn’t been used fraudulently.
Know who’s calling
If you receive a call from anyone requesting personal identification information, you should not share any information before verifying the caller’s identity. If the caller claims to be calling on behalf of a specific organization, take the necessary steps to confirm the person’s relationship to that company. You may want to record the caller’s name and telephone number to call them back upon verification of their identity and association with a particular company.
Safeguard your Social Security Number
Don’t make a habit of carrying your Social Security card with you. If someone steals your purse or wallet, they can use your social security number to apply for a job, credit card or loan. Your social security card is safest in a locked safe or drawer, out of sight, in your home.
If your SSN appears on your license, health insurance or Medicare card, ask your provider to use an alternate number such as a random or policy number instead. When carrying your cards, keep them stowed away in a safe place and only take them out when absolutely necessary.
Put your shredder to work
Use a shredder to dispose of pre-approved credit card offers and other mail and documents displaying your name and personal information. It only takes a simple phone call for an identity thief to activate a pre-approved credit card in your name. Simply throwing these types of offers and other forms of personal identifiable information in the trash is not enough -- identity thieves will stoop to digging through your trash.
Monitor your credit regularly
Be proactive about managing your credit welfare and review your credit report regularly. Credit monitoring services such as Equifax Credit Watch can serve as an early warning system to alert seniors about potential fraudulent activities. Recently Equifax introduced Equifax Credit Watch Gold with 3-in-1 Monitoring, which notifies you of key changes to your credit file from all three nationwide credit reporting companies. With wireless alerts available via cellular phone, this is a convenient way to stay informed about your credit health.
For more information about ways to protect yourself and your family from identity theft, visit www.equifax.com. Equifax also offers a new resource at www.mycrediteducation.com, featuring helpful advice and tips on identity theft protection and credit management. Courtesy ARA Content
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