Family fraud costs seniors $28B annually; 5 steps to protect parents

You would like to believe that nobody in your family could never scam your parents. But what happens if the danger is not at all a stranger? What if is someone who they already trust? What if it is even your distant brother or uncle who needs money? According to AARP, the elderly in America lose more than $ 28 billion each year for fraud.

Surprisingly, 70% of the people they know – family members, neighbors, caregivers and “friends”.

If you have aging parents or grandparents, it’s time to act. People in your circle can cause serious financial damage, known as family fraud, if you are not careful. And, worse, almost 90% of family fraud is not reported by the elderly due to shame, fear and potential repercussions. Here is a simple five -step plan to protect your loved ones before someone you think you can trust.

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Medicare Data Breach exhibits 100,000 American information

A parent hitting on a laptop (Kurt “Cyberguy” KTUSSON)

Step 1: Understand how family fraud endangers your parents

They are not only shady crooks in distant places. Most elder frauds occur near their home. These fraudsters are experiencing strangely specific details on the elderly, their children, their grandchildren, previous professions and even pension funds.

The most common cases involve:

• Reconnection: Separate parents suddenly reconnect with hidden patterns
• Identity flight: Family members using the name of your loved one, the social security number or credit cards
• Sharm-Stalking: Occasional knowledge digs for personal information to be used

If your family has tensions, distant members or unresolved drama, your parents could be targets of choice. Recognizing this risk is the first essential step in prevention.

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Step 2: Protect your parents by locking their personal data

Data broker sites sell personal information from the elderly by the bundle. We are talking about telephone numbers, emails, domestic addresses, income estimates and even political opinions, all listed online for the money. Armed with these details, crooks can pretend to be a parent, hack an account or handle your loved ones by phone.

Think how easy it is for a distant family member to get updates to your parents’ life and financial situation. Limit the amount that your parents share online or delete this information to prevent it from appearing on people’s search sites. In the end, controlling what is available online is one of the most effective ways to protect the elderly from identity theft, fraud and unwanted contacts.

A parent hitting on a laptop (Kurt “Cyberguy” KTUSSON)

Step 3: Delete your parents’ personal data on the Internet

The good news is that you can protect your older family members from many problems. Start by looking for your parents’ names on Google. If their phone number or address appears on the search sites for shaded people, have it deleted. The problem is that there are hundreds of these data broker sites, and most of them make a nightmare to withdraw.

It is there that a personal data deletion service comes into play. They automatically contact these data brokers and oblige them to delete personal information, including that of your parents.

It works in the background and covers dozens of worst offenders. I use it personally for my family, and it is one of the most intelligent and easiest ways to keep personal data out of the wrong hand.

Although no service can guarantee the complete deletion of your Internet data, a data deletion service is really an intelligent choice. They are not cheap, but your privacy either. These services do all the work for you by actively and systematically erase your personal information from hundreds of websites. This is what gives me peace of mind and turned out to be the most effective way to erase your personal data on the Internet.

By limiting the available information, you reduce the risk of crooked references from the crooks from violations with information they may find on the Dark Web, which makes them more difficult for them to target you.

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Step 4: Draw your parents’ phone numbers to block the crooks

One of the simplest ways for crooks to reach and manipulate elders is by telephone calls. A friendly voice claiming to be a cousin lost for a long time or someone who claims to be a financial advisor goes very far. If your parents’ fixed or cellular number is publicly listed, it is a time bomb.

You can:

• Contact their phone provider And ask that the number be not listed
• Delete their online directories (A personal data deletion service can also do it)
• Consider geting a new number and keep it private.

Less means of fraudsters can reach your loved ones, the better.

A parent hitting on a laptop (Kurt “Cyberguy” KTUSSON)

Step 5: Monitor your parents’ identity to take fraud early

Data elimination tools, such as incogni, should be your first line of defense. But for additional peace of mind, you can add free tools such as credit gel and bank alerts. Identity monitoring services can also alert you if your parents’ social security number, the name or financial accounts are poorly used.

See my advice and the best choices on how to protect you from identity theft to Cyberguy.com/identitytheft

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Family fraud is one of those ugly and uncomfortable subjects that we tend to avoid. But believe me, the regret of not acting is much worse. Start today and delete your web parents’ personal data. Do not forget to list their phone number and lock their sensitive information. Each measure helps your parents maintain control of their finances.

To what extent do you feel comfortable to discuss financial security and confidentiality with your older parents? What challenges have you met to start these conversations? Let us know by writing to Cyberguy.com/contact

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