Seniors – Common Types of Fraud and Scams

Identity Theft

Identity theft occurs when a criminal steals your personal information to take on your identity.  The more detailed the personal information stolen, the more valuable it is to the criminal. Information like your social security number, bank personal identity number (PIN), drivers license, health card, or online password are just a few examples. Losing your wallet, purse, or mail can be a gold mine of opportunity for the identity theft criminal

Once the criminal has your information, they go to work committing their illegal acts like applying for credit cards, loans, making purchases, or withdrawing bank funds.

 

Credit and Debit Card Fraud

Credit card and debit card fraud take place when a criminal uses your card, or the card information and makes purchases or withdraws money from your account. Prevention tips include ensuring your card is always in sight, memorizing your PIN, and shielding others from watching you enter your PIN.

 

Online Scams

“If it’s too good to be true, it’s not true” it’s probably a scam. Beware of offers for free products, claims you won a contest you did not enter or get-rich-quick schemes. One of the more successful scams against seniors is receiving a phone call or message stating there is a problem with their income tax or bank account.

Learn to pick out scams, spam and phishing sites. Some phishing scams can be easily identified. Other phishing attempts in an email, Instant Messaging, on social networking sites, or websites can look very legitimate. Look for spelling and other mistakes, including grammar. However, some scams look like they are coming from somebody you know. They may ask you to click on a link or provide your password or other personal, or financial information. It is strongly suggested that you do not follow through with the request and instead contact that person to verify.

To ensure you never fall for a phishing scam, don’t click on a link that has been sent to you by someone you don’t know, looks suspicious or from a third party that you didn’t request any information from.

 

Door-to-Door and Phone Scams

Be aware – the scam can be very detailed and seemingly legitimate.  Criminals will go to great lengths to acquire background information on you in advance of the scam. They may have already gathered some personal information about you – this is called social engineering.

The criminal will either call or come to your door pretending to be a representative of a charitable organization, an employee of IRS (or even law enforcement), or a long lost relative. It may be high pressured with threats of severe consequences, or they might offer you a free prize or trip. Do not feel pressured and don’t give the person any information or money.

 

Tips and Safeguards

If possible, keep all personal documents in a secure place. Unless needed, don’t carry your birth certificate, passport or social security card with you.

Never give or tell another person your account passwords or PIN.  Cover your hand when entering your PIN when making transactions at stores or bank machines.

Shred old banks statements, bills and other documents that have your personal information on them.

Do not click on links, open attachments or respond to e-mails sent by people you do not know. Pay attention to e-mails from your bank.  They will not send you anything by e-mail unless you request it.

Do not give out your banking information, credit card, or personal information to someone over the internet, over the phone, or at the door unless you know them.

Watch out for offers that are “time-limited” Do not sign a contract or agreement.  Instead, take some time, talk to others and think it over.

If you have advertised an item for sale online, beware of fake buyers.  They offer to send you the money in advance. Usually, the amount the fake buyer is willing to send to you is more than your asking price. Here are some tips to protect yourself.  https://www.kijiji.ca/kijijicentral/general/how-to-recognize-fraud-fake-buyers/

Before hiring someone or agreeing to have work done on your home, ask for proof of identity and references and check them.

When in doubt, use internet search engines to research the potential scam.  Look for trusted and verified reviews and postings.