Anyone can become the victim of identity theft, including elderly people. And they don't know their identity has been stolen until unexplained charges start showing up on credit cards or their bank accounts have been emptied.
Identity theft "occurs when a thief steals the elderly person's social security number, bank account numbers and other financial or personal documents. With this information, he can open a new credit card account for his own use, apply for loans in the victim's name, drain the victim's bank accounts, and illegally obtain professional licenses, driver's licenses and birth certificates.
Why are seniors targeted?
Seniors are seen as an easy opportunity. Identity thieves love older people because they are vulnerable. They are often socially isolated, lonely, tend to be trusting and vulnerable, and may have early dementia or memory loss. This is the perfect victim profile for an identity thief to prey upon. Too often, seniors are like sitting ducks.
How do criminals take their identity?
Scammers are always coming up with new ways to get information to commit identity theft. There are many ways a criminal can steal an identity.
Stealing mail - ID thieves can easily steal a senior's mail, including bank and credit card statements, checks, tax information and more. And it's not only the mail that gets stolen: Thieves will steal a senior's garbage, rummaging through it for personal and financial information carelessly tossed into the trash.
Sending mail - Identity thieves not only take the mail, they also send it to seniors. The mail appears to come from trusted sources, such as the victim's bank, charitable organizations or well-known companies. The scam mail usually contains "official" letterhead, authentic looking logos and registered trademarks.