Identity Theft, Financial Abuse are Growing Concerns for Seniors, is contributed by Walton Law, on June 25, 2024, as an online article at VibrantSeniorOptions.com
Identity theft affects millions of people each year. According to the Justice Department, approximately 23.9 million Americans fall victim to identity theft annually, resulting in over $16.4 billion in losses.
Elders are Particularly Vulnerable
Elders are particularly vulnerable to identity theft. The Federal Trade Commission notes that senior citizens are at higher risk because their personal information can be easily accessible. This is especially true for those living in a communal setting, such as assisted living communities and nursing homes. In those settings, personal and sensitive information can be accessed by a wide range of individuals.
To protect seniors from identity theft and other forms of financial abuse, it’s important to carefully monitor their personal information. Here are some tips that Washington state seniors and their loved ones can use to reduce the risk of identity theft:
Collect Mail Promptly
Ensure that mail is collected as soon as it is delivered to prevent theft from mailboxes. If living in a communal setting, consider having all your mail sent to a trusted family member’s home.
Shred Sensitive Documents
Shred all documents containing personal identifying information, such as credit card and bank account numbers, Social Security numbers and driver’s license numbers. If living in a communal setting, ask if they have a shredder that you can use to dispose of sensitive documents.
Guard your Social Security number
Never give out your Social Security number to unfamiliar people or telemarketers. Always verify the identity of anyone requesting this information. If living in a communal setting, ask what steps they take to protect your personal information.
Be cautious with account numbers
Avoid sharing bank or credit card account numbers over the phone unless you have initiated the call and trust the recipient. If living in a communal setting, consider asking a trusted family member to help make purchases and manage your financial affairs.
Review bank and credit card statements
Make sure that someone—you or a loved one—regularly review bank statements and credit reports for any unusual activity. Early detection can prevent significant financial damage.
If You Suspect Identity Theft
If you suspect that a loved one has been a victim of identity theft, take immediate action. Contact Washington Adult Protective Services at 1-866-363-4276 and your local police department to report the incident.
You may also want to seek legal advice from an attorney who specializes in financial elder abuse cases to explore further steps.
Financial abuse of elders can take many forms, ranging from unauthorized withdrawals from bank accounts to coercing an elder into signing financial documents. It’s a civil and often criminal offense. Legal action can help recover stolen assets and hold the perpetrators accountable.
Walton Law is a personal injury law firm that specializes in elder abuse and neglect cases. We serve Snohomish, Skagit and Whatcom counties from offices in Bellingham and Mountlake Terrace.
If you or someone you know has been a victim of elder abuse, including financial exploitation, seeking professional legal counsel can be an important step in protecting their rights and finances. Live chat with a member of our team by visiting www.waltonlawapc.com/ or call us at (360) 503-0231.
Walton Law, APC
Washington Office
360-503-0231
waltonlawapc.com
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