As a senior, you may be targeted by scammers who view you as vulnerable or assume you have accumulated assets. Check fraud is particularly common, but with the right precautions, you can protect yourself and your hard-earned money.
Reduce Your Risk by Going Digital
The best defense against check fraud is limiting your use of paper checks altogether. Consider switching to online banking, automatic bill pay, and direct deposit for regular transactions. These electronic methods are much harder for criminals to intercept and alter than paper checks sent through the mail.
Secure Your Financial Information
Keep your checkbooks, Social Security card, and other sensitive documents locked away at home. Never carry unnecessary financial information with you. When you do write checks, use a black gel pen and fill out all fields completely to prevent alterations. Pick up your mail promptly and avoid leaving outgoing checks in unsecured mailboxes.
Stay Vigilant
Monitor your bank statements regularly and set up account alerts for unusual transactions. Don’t hesitate to ask a trusted family member to help you keep an eye on your accounts. Be extremely cautious of anyone requesting money, especially if they create a sense of urgency or claim to be a relative in distress.
Trust Your Instincts
If something feels wrong, it probably is. Never send money to unfamiliar people or organizations, and always verify the identity of anyone requesting financial information. When in doubt, consult your bank or a trusted friend before acting.
Report Immediately
If you suspect fraud, contact your bank right away to freeze your account. Report the incident to local law enforcement or the National Elder Fraud Hotline at 1-833-FRAUD-11.
Remember: legitimate organizations will never pressure you to act immediately. Take your time, verify requests, and protect yourself.