Senior Identity Theft is on the the Rise

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Identity theft is one of the fastest growing crimes in the U.S. so it’s no surprise that it has remained the No. 1 complaint to the FTC for more than five years in a row. Although people in their early-to-late 20s are usually the ones who report the most identity theft complaints to the FTC, in the past three years there has been a shift in the age group who reported the most identity theft complaints — from people in their early-to-late 20s to people ages 50 and older.

Identitity Theft1Why are adults 50+ targeted by identity thieves?

There are a couple of reasons why adults 50+ may be targeted for identity theft. The main reason is that senior citizens usually have more money and assets, as opposed to someone who’s 20-something years old and just starting their career. Identity thieves know that they’ll be able to get cash from an unlucky victim, instead of stealing credit from a younger victim. Adults 50+ may also be targeted as victims of identity theft because they can sometimes be naïve or trusting of strangers.

What can I do to help protect myself or a loved one?

Just because senior citizens are targeted by identity thieves, doesn’t mean they need to fall victim to the crime. In addition to the steps detailed in the infographic above, one of the best ways to protect yourself or a loved one from identity theft is to sign up for an identity theft protection service.

Identity Theft2

The top service for adults 50+ is AARP Credit and Identity Theft Protection from TrustedID because it’s designed for people ages 50 and older and offers complete identity theft protection and credit report monitoring for any AARP member and their family members. The service offers both individual and family plans that range in price from $9.17/month to $24.99/month, depending on the plan and if you’d prefer to pay monthly or annually.

Although AARP Credit and Identity Theft Protection from TrustedID is the top service for adults 50+, there are still some other services that are great options for protecting yourself or a loved one. One of them is Identity Guard, which offers the most comprehensive identity theft protection and costs $14.99/month to protect one adult.

Information provided by Next Advisor. More information is available at http://www.nextadvisor.com/identity_theft_protection_services/compare.php.

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