Unsworth LaPlante, PLLC

Vermont Estate Planning Attorneys

Call: (802) 879-7133
Home Âğ Preventing Elder Financial Exploitation in Vermont

Preventing Elder Financial Exploitation in Vermont

by

Adobestock Scaled

Financial fraud and exploitation are the most common forms of elder abuse and neglect, according to the U.S. Department of Justice. Lamentably, for every incidence of elder financial exploitation that is reported, experts believe that another 44 go unreported. One common way in which elder financial exploitation is facilitated is by identity theft to which older individuals tend to be more vulnerable. In an effort to help prevent elder financial exploitation in Vermont, the attorneys at Unsworth LaPlante, PLLC offer tips for seniors to prevent identity theft.

Why Are Seniors More Vulnerable to Identity Theft?

Identity theft is a huge – and growing – problem among all age groups; however, older Americans are particularly susceptible for several reasons. First, identity thieves in the 21st century use sophisticated computer hacking techniques, card skimmers, and other electronic means to steal someone’s identity. Today’s seniors often struggle just learning to use smartphones, computers, and electronic payment methods, making them easier targets. Seniors also tend to be more trusting. If someone calls and says they are from the I.R.S., a senior is less likely to question that assertion than their younger counterparts, once again making them an easier target. Finally, seniors often have more money to steal, providing added incentive for identity thieves to target them.

Tips to Prevent Seniors from Falling Victim to Identity Theft

Whether you are a senior yourself, or you are concerned about an older loved one, the following tips can help seniors prevent identity theft.

  • Educate yourself or your loved one. Take the time to read about identity theft so you have a better understanding of common schemes used to steal a person’s identity.
  • Do not share identifying information. Do not share any personal information over the phone or online unless you are absolutely certain that doing so is necessary and that you know who you are sharing that information with. If you get a call purporting to be from a government agency asking for information. Hang up, look up the correct phone number and call back. Likewise, do not rely on following links to banking or retail websites. Instead, type in the address yourself.
  • Avoid the use of public wi-fi. The moment your cell phone connects to a public Wi-Fi, at Starbucks for example, the job of an identity thief just got considerably easier. Try to only connect to Wi-Fi at home or to a secure (one that requires a password) when you are away from home.
  • Ignore unsolicited requests or advertisements. Do not click on or respond to texts, calls, or emails from anyone unless you requested that they contact you. These are often just phishing scams to get access to your phone or computer.
  • Use strong passwords. While it can be difficult to remember strong passwords, come up with a system and use them whenever possible. The more difficult the password is, the harder it is for a cyber criminal to break the code and steal your identity.
  • Keep social media private. Seniors are often on social media only to keep in touch with children and grandchildren. If you use social media, be sure your settings are set to the highest privacy levels. To begin with, your account should be private, not public.
  • Check credit records regularly. Check your credit report on a regular basis. Identity thieves are betting you won’t. You are entitled to a free report from all three major credit reporting bureaus once a year and may obtain the report on annualcreditreport.com.

Do You Need Help Preventing Elder Financial Exploitation in Vermont?

For more information, please attend one of our upcoming FREE webinars. If you need assistance with preventing elder financial exploitation in Vermont, contact an experienced Essex Junction elder law attorney at Unsworth LaPlante, PLLC by calling 802-879-7133 to schedule your appointment today.

Stephen Unsworth
Latest posts by Stephen Unsworth (see all)