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Baby Boomers Beware: Identity Theft is a Real Problem

Identity Theft

One thing is certain with identity thieves: they certainly know who to target.

In short, it is the large Baby Boomer population that may be the target of identity thieves, due to a number of factors. First, most of this population has money. Secondly, most of them have good credit. Third, they may have more free time on their hands.

The FBI, for example, reports that nearly 35 percent of the people who file identity fraud complaints with the Internet Crime Complaint Center are 50 or older. Because, let’s face it, this is where the money is.

The problem with identity theft and the retiree population is not limited to a thief stealing information from a mailbox. Instead, identity theft includes a number of scams that look to pull personal information or money out of an individual.

Mortgage Scams

Mortgage scams aimed at Baby Boomers are more than just a phone call. In fact, identity thieves have gone as far as to rent office space and turn their scam into a legitimate-looking operation. In short, these scammers are after social security information and other personal information begin written down by the individual on a fake mortgage loan application.

It is therefore best to avoid working with any lender with which you are not familiar. Instead, it is best to stick with local, established companies with a long history.

Looking to the Obituaries

When it comes to identity theft, thieves are merciless. In fact, it is now quite common for scammers to scan the obituaries for information about recently deceased individuals. For example, the birth date in an obituary could lead the thief to pull the death certificate, which then contains the deceased’s social security number. The thief can then, at least for a short time, open up credit card accounts in the deceased’s name and go on a spending spree.

It is best to avoid listing the birth date or year of the deceased individual; just include the age of death. You may also want to leave out other personal information, such as the deceased’s hometown.

Social Media Problems

Many retirees are turning to social media sites because they have more time on their hands. However, be very careful about putting any personal information on these sites, as identity thieves use them to find out when you are not at home so they can burglarize your home. Avoid posting pictures of your home or any information that details when you will be away from the home.

How to Stay on Top of Credit Card-Related Scams

Identity Theft

It is no wonder that credit card-related scams are on the rise. Many credit card thieves and scammers have taken advantage of the countless Americans who are in some type of financial difficulty.

In short, they are preying on the most desperate Americans. Although this sad truth is all too prevalent in today’s society, there are a number of things we can all do to protect ourselves from credit card scammers. In particular, we need to know what to look out for. Here are some of the latest credit card-related scams that have come to light:

• You should never have to give up your credit card or banking numbers on a job application. This newest credit card fraud took individuals who were anxious for a job for a ride; these scammers faked jobs and lured individuals into thinking they were being hired for a position. As a result, many individuals willingly gave up their personal credit card and banking information on these fake job applications. The scammers made the applicants think that they were merely checking their credit report; instead, they took them for a ride by stealing their credit card information.
• You should never become involved with any type of debt assistance company before thoroughly checking their credentials. There have been a number of debt assistance scams that have convinced individuals to pay them a fee in return for either erasing or reducing their credit card debt by working with their creditors. Unfortunately, all they did was take off with these consumers’ money.
• You should never give your credit card numbers over the phone unless you initiate the call. Credit card phone scams have been increasing as of late, so it is important to pay close attention to anyone soliciting you and promising you lower rates. Never, ever give your credit card information to anyone who calls you; there is absolutely no way to verify who is making the call. If you have any question regarding whether it is really a legitimate call, ask for their name and phone number and immediately contact your credit card company to check the validity of the credit card offer.