Fraud and theft targeting seniors is a growing concern, and many people reach out to “2 Helps You” for guidance. It can be challenging to discuss financial safety with family members, but some steps can be taken to help protect them.
KPRC 2’s Amy Davis highlights some proactive measures that can be implemented immediately.
MORE: Signs you are already a fraud victim
Whether it’s someone pretending to be from your bank or from Medicare, the biggest way our senior citizens in Houston are targeted is through impersonation fraud. Often, people don’t realize it until a lot of money is missing.
Here are some essential tips to safeguard against fraud:
- Set up bank alerts to receive notifications for any deductions over a certain amount. This can help flag unauthorized transactions.
- Avoid writing checks. If writing a check is necessary, log into your bank account online to view the actual check image that was cashed. Ensure that the name and amount are correct.
- Build a relationship with the staff at your bank. Knowing someone by face and name can be invaluable.
Chase Community Manager Ian Okoli advises, “Have somebody at your local institution that you know by face and name that you can pick up the phone and call. In the event that you get any call that’s unexpected and suspicious, hang up and call your personal contact just to make sure that everything is legit. This way, you can ensure you have someone accountable watching your back from a financial standpoint.”
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Chase Bank and the Houston Police Department recently met with seniors at the J.W. Peavy Senior Health and Wellness Center to discuss common fraud.
Bessie Hartford, a senior specialist at the center and BakerRipley, emphasizes the importance of vigilance.
“No matter how much I warn seniors to be careful of fraud, I still see it happening,” Hartford says. “They often want to help others, so they take the calls and end up becoming victims of scams because they listen and engage.”
In addition to these measures, seniors can place fraud alerts through credit bureaus and include family members in those alerts.
- Equifax - www.equifax.com/CreditReportAssistance
- Experian - www.experian.com/fraud
- TransUnion - www.transunion.com/fraud
What to do if you think you are a victim of identity theft
IdentityTheft.gov is the federal government’s one-stop resource for identity theft victims. The site provides streamlined checklists and sample letters to guide you through the recovery process.
