Unfortunately, elderly people are vulnerable to financial abuse and typically fall prey in many instances. It is important to learn how to protect yourself or your loved ones and we will be discussing a few tips that will help protect you from the world of scammers.

• Never share your Social Security Number, Credit Card, Debit Card, Medical Insurance Number or any other personal information over the phone unless you initiated the call

Whenever you receive an unsolicited call be careful about what information you provide. Ask all the relevant questions as to what the call pertains to. If you are uncertain about the validity of the call, tell them that you will give them a callback.

• Add scam phone numbers to the “Block List”

If you receive a fraudulent call, block the contact number to prevent future calls.

• Avoid using your Debit/Credit card at stand-alone non-bank ATM’s

When traveling or going about, avoid using stand-alone ATM’s that do not belong to your banking institution. The reason behind it is that scammers tend to place card readers inside stand-alone ATM’s that do not get monitored often.

• Shred all your receipts with your card numbers

If you do not intend to return items to the store, please shred all your unnecessary receipts or store them in a safe place. Under no circumstance should you toss your receipts into the trash before shredding them.

• Carefully go over all contracts before signing them

Thoroughly read all the information in the contract before signing it. If it is too much have your attorney go over significant contracts such as a home repair contract.

• Monitor your bank statements

Go over your monthly bank statements and ensure there are no transactions you are not aware of. The earlier you jump on fraudulent transactions the better your chances of disputing the charges.

• Grandparent scam

This is a type of fraud you get a call from someone pretending to be a family member. Do not fall for it by sending money to that person or revealing any personal or financial information through the phone.

These are but a few methods meant to raise your awareness of the financial threats that may be out there. At all times it is important to remain vigilant on how you share your personal information. Identity theft is a real threat, especially during this technological era.