Fraud Prevention Checklist For Older Adults

Unfortunately, fraudsters, hucksters and scammers alike continue to successfully target older adults. Fortunately, whether protecting yourself or a loved one, there are preventative measures you can take to lessen the chance of getting scammed. But your best protection will be changing your behaviour, not relying on a technical fix.

We suggest you go through this comprehensive checklist, take the recommend precautions and implement those measures where applicable and possible.

PREVENT YOUR INFORMATION FROM BEING STOLEN

Place your sensitive documents under lock and key, a safe or safety deposit box

Do not give passwords, passphrase or PINs over the phone, email or text

Do not send your SSN, Medicare number, license number, credit numbers, CVV over email or text

Allow push notifications from your bank so they can alert you to suspicious behavior

Never trust caller ID. Validate by hanging up and calling back through the official number

Report lost or stolen cards or identity documents right away

Shred papers with sensitive information - unused financial statements, medical records and bills

Collect your mail daily and set-up forwarding or put your mail on hold when you're out of town

SECURE YOUR PASSWORDS

Don't reuse passwords

Change your passwords regularly

Use unique passwords for each website

Consider creating a strong, long, complex, memorable unique password for yourself such as:

• Use a pass phrase such as "two roads diverged in the wood"
• Turn the phrase into an acronym "trditw"
• Add uppercase letters "TrditW"
• Add symbols and numbers "TrditW1999@*"
• You can then customize that password for each website:
  • TrditW1999@*gmail
  • TrditW1999@*netflix

Use two factor authentication (the website will send you a text or phone call) to verify you upon login

Use finger print (biometric) identification whenever available

Consider a secure password manager and / or generator

SECURE ONLINE DATA AND MOBILE DEVICES

Install anti-virus, anti-spyware and anti-malware software on your phones, computers and pads

Use a reputable, zero log, VPN provider that encrypts your data and hides your IP address

Lock your phone, computer and pad with a passcode and / or fingerprint

Enable location based security permissions

Use the most recent version of your online browser on its most private and safest settings

Only browse secure HTTPS:// websites

Turn off your computer when not in use

"Wipe" clean your devices to factory reset before reselling, donating, trading or recycling

Secure your home router with a strong password (not 123, your family name or address)

Never use public WIFI (restaurant, airport, hotels, coffee shop)

AVOID PHISHING AND ONLINE SCAMS

Don't download unknown or unsolicited apps, files, plug-ins, programs or software

Delete apps you no longer use

Don't sign into an account from a link in an email. Type the company's URL directly into your browser

Don't respond to suspicious emails, phone calls, or texts

Use a different email and / or username and passwords for each of your financial accounts

AVOID INVESTMENT FRAUD SCAMS

Check the registration of anyone offering you investment advice

Check the SEC Action Lookup database to ensure no actions have been taken against them

Avoid "promises" of high returns

Avoid calls to "act now"

Don't believe "inside", "secret", "exclusive" or "privileged" information

Avoid any direct payments to a financial advisor, payments should be made out to the firm

Avoid any investments requiring you to pay with a credit card

Do not sign any contracts without reading them, understanding them or having a trusted advisor do so

PROTECT YOURSELF ON SOCIAL MEDIA

Strengthen social media security and privacy settings - set your accounts to private

Only invite people you know to be part of your network

Do not share travel plans or when you are out of town

Do not share location data (geolocation tags)

Do not share valuable new purchases (jewelry, art, collectibles, etc...)

Do not share personal information that can potentially be used to scam or impersonate you

PREVENT FRAUDSTERS AND SCAMMERS FROM WALKING IN THE DOOR

Ask all contractors for their trade license (verify online) and a written estimate before hiring

Do a background check before hiring any private caregivers

Have a visible camera at your door to deter scammers

RED FLAGS TO WATCH OUT FOR

An email, text or phone call using fear, demands, threats or intimidation

An email, text or phone call using urgency to access your personal information

An email, text or phone call with a too good to be true or unusual request

An email, text or phone call with a "warning" that your account will be closed, taxes not received, etc...

Suspicious senders in the "from" address - check the email domain name

Suspicious links or attachments - if you weren't expecting the email or text, don't open it

Asking for payment in the form of gift cards

Asking you to make a cash deposit for a sweepstake

Asking you to deposit a check received in the mail

Warning you they'll contact police if you do not reply

Claiming there is a warrant for your arrest and demanding you make an immediate payment

Use threatening language to bully you into paying a fake debt

Online ads or warnings that say your computer has a virus

Fake invoices from common companies like Amazon, UPS, Netflix or the IRS

Romance scammers asking for money for some made up reason after trust has been secured

Check incoming bills for charges you don't recognize

RED FLAGS FAMILY CAREGIVERS SHOULD WATCH OUT FOR

Large withdrawal from your loved one's bank account

Large check written to a name you do not recognize

Large number of small withdrawals

A change in power of attorney

A change in the beneficiary of investment or insurance accounts

Bounced checks

Inability to pay bills, when cash should be available

IRS notice of multiple tax returns in your loved one's name

Unneeded home repairs - new roof, roof repair, new siding, new paint job

New friendship with a large age gap or deemed suspicious

Someone, like a friend or caregiver, who starts asking questions about your loved ones finances

Sudden change in mood or behavior. Your loved one seems fearful or anxious.

WHAT TO DO IF YOU'VE BEEN SCAMMED

Call Eldercare Locator, a public service of the U.S. Administration for Community Living 800-677-1116

Call National Elder Fraud Hotline 1-833-372-8311

Call your bank to alert them of potential fraud or ID theft - replace cards

Call your credit card company to alert them of potential fraud or ID theft - replace cards

Call your investment advisor to alert them of potential fraud or ID theft

Ask the 3 credit bureaus (Equifax, TransUnion, Experian) to freeze and put your account on fraud alert

Change all your passwords immediately