How to keep your parents safe from identity theft

As technology changes rapidly and constant cybersecurity threats emerge, it can be hard for those who are less familiar with the internet to keep up. This puts them at a greater risk of internet fraud, including identity theft.

According to Homeland Security in the USA, senior citizens are twice as likely to become a victim of online fraud than the rest of the population(1). Additionally, the most recent Consumer Sentinel Network report revealed that people over the age of 50 account for 39 per cent of all identity theft complaints(2).

Why is this group particularly susceptible?

Many seniors tend to fall prey to identity theft due to the following factors identified by The National Association of Triads (NATI)(3):

• Seniors are often home for the majority of the day, making them readily available to cold callers and scammers. 
• Many older people suffer from loneliness or other conditions that make them more vulnerable. 
• The amount of savings or property they own tends to be higher, making them desirable targets. 

How can you help the people in your life?

Your parents, uncles, aunts or friends may not realise how much vigilance must be put into protecting one's identity. Therefore, it is your duty to guide them as best you can and ensure they will not become victims of online fraud. Here are some useful preventative actions you can take together. 

• If they are using a credit card online for shopping, suggest some trustworthy sites to use and bookmark them so that they have a safe way to browse and purchase goods.
• Encourage them to go to the bank and set up internet banking. Through this, they can monitor their accounts and report any suspicious behaviour, lost cards or other information straight away before further harm is done. 
• Give them a crash course on how to check for authority and correct security certification on websites and electronic correspondence. Let them know that they should never give away personal information unless they know the website can be trusted. 
• As Homeland Security pointed out, there lies risk in seeking medical advice on the internet, as many pharmaceutical companies will falsify information to sell products. Encourage your loved ones to call a registered nurse hotline or visit the doctor instead(1).
• Make it clear that you are always available for a second opinion if they are unsure of an email or website. If they have a concern that you can't solve, guide them to the correct authorities.

With your assistance, the elderly can enjoy the benefits of the internet and credit cards without falling prey to identity theft or other online scams.

If you are worried about your parent's online Identity Watch could help. By carefully monitoring the internet for any signs of your personal information where information is known to be illegally traded, Identity Watch will alert you of illegal or suspicious activity and advise you on what to do next.

1 Cyber Tips for Older Americans, Department of Homeland Security. Accessed August 2015.

2 Consumer Sentinel Network Data Book for January - December 2014. Federal Trade Commission February 2015. Access August 2015.

3 National Triad Resources, National Sheriffs' Association. Accessed August 2015.