Fraud is on the rise, and people age 80 and older are far more likely to be targeted by phone or online scammers than other age groups. Plus, retirees have the greatest potential to lose the most money.
Unfortunately, the technology that helps seniors stay connected with loved ones during times of limited social interaction has also made scammers bolder. Scams can take many forms, from callers pretending to be a family member in need of financial emergency assistance to tech-support emails directing people to fake bank websites where thieves collect login credentials.
Tips to Help Protect Yourself
Here’s how you can help protect yourself and your loved ones from such scams.
Keep your financial information secure. Don’t share your personal information, such as financial account numbers, online banking username, passwords, or your Social Security number, with anyone who calls you asking for such details. Your bank will never call you to verify or ask for your online banking login information.
Block unwanted phone calls. To limit receiving unsolicited telemarketing calls, add your landline and cell number(s) to the National Do Not Call Registry. Visit www.donotcall.gov to sign up. You can also check with your phone company or mobile provider about call-blocking services. AT&T®, T-Mobile®, and Verizon® all offer features for blocking robocalls.
Reduce electronic junk mail. Send suspicious emails that look like junk mail to your spam filter. Your spam filter will then recognize it and block it as spam in the future. Never call or click on phone numbers listed in “phishy” emails or text messages. These numbers may look legitimate, but you could be responding to a scammer.
Even if an email looks legitimate, check the email address it came from before opening it or clicking on anything in the message. If the address contains various numbers or symbols rather than a straightforward email address, it’s likely not legitimate.
Protect and monitor your money. Safeguard your money by setting up direct deposits for income from Social Security, pensions, dividends and tax refunds so that actual checks aren’t mailed to you. You can also watch spending activity on your accounts by asking your bank and credit card companies to send alerts of suspicious activity or charges that exceed a certain amount.
Report fraud. If you think you may have been scammed, you can file a complaint on the Federal Trade Commission’s website at ftc.gov or call 1-877-FTC-HELP. Learn more about how to report identity theft, place a fraud alert, and freeze your credit with our identify theft recovery guide.
Monitor Your Financial Accounts
At Amegy Bank, we work together with you to help protect your financial accounts from fraud. Enrolling in account alerts can help you stay informed about account activity and potential fraud. Visit our Security Center for more fraud prevention tools and ways to enhance your online security.