By Sandra Bernardo, Consumer Education Manager Experian
While anyone can be a victim of identity theft, seniors may be at even more of a risk then the general population. According to the Department of Justice, the number of elderly victims of identity theft increased from 2.1 million in 2012 to 2.6 million in 2014. This increase is likely due to the fact that seniors often live alone and crave companionship, and also have fading memories, which makes them easy pray for identity thieves who take advantage of their loneliness and vulnerability.
What’s more is that identity theft in seniors can be truly tragic as bank accounts are drained and retirement funds vanish, leaving these seniors without any resources in their golden years. Protecting our aging parents can be simple if you know where to start. Here are five ways to keep them, and their nest eggs, safe. [Read more…]