Link to ESI programhttp://www.educationminnesota.org/member-benefits/discounts/identity-theft-protection
By Mark Pribish
Vice President and ID Theft Practice Leader
The senior population in the United States is a growing segment in our society
which is living longer and as a result is at risk of Senior ID Theft and Financial
Fraud.
According to the Federal Trade Commission’s (FTC) February 2010 Consumer Sentinel
Fraud and ID Theft Report (please see FTC link http://www.ftc.gov/sentinel/reports
/sentinel-annual-reports/sentinel-cy2009.pdf), national ID Theft and Fraud complaints by
consumers for ages 50 years and older were listed in the following order:
Consumer ID Theft Victims for 50 years of age and older:
50-59 years old – 15 Percent
60-69 years old – 8 Percent
70 years and older – 5 Percent
Consumer Fraud Victims for 50 years of age and older:
50-59 years old – 25 Percent
60-69 years old – 5 Percent
70 years and older – 5 Percent
In addition, most consumers think identity theft is related to email solicitations,
checks/credit cards and computer hacking - but very few people relate a family death (e.g.
a senior or a young child) to ID Theft.
In fact, the death of individuals has become a targeted prospect list for many ID Theft
thieves where ID theft and fraud involving a deceased relative is an emerging trend by
criminals who have known for years that assuming the identity of a deceased person can be
a profitable venture.
Examples of ID Theft and Fraud through a deceased relative can be identified through a
collection notice, a credit card bill, a notification from law enforcement, or a credit report
(whether the deceased was a senior or a child under age 19 as the above referenced FTC
report also found that seven percent of children age 19 and under became ID Theft victims
in 2009).
So what can be done? First, the Social Security Administration (SSA) maintains a Death
Master File, and all three major credit bureaus and most financial institutions subscribe to
monthly updates. However, it can take up to 60 days for a name to make it onto the list.
Ideally, relatives and funeral directors notify the states of deaths and the states then
communicate said death to the SSA. When the SSA receives a death notice, they will then
flag the person's social security number as "inactive."
There is a great list of detailed preventive measures you can take from the Identity Theft
Resource Center (ITRC) found here: http://www.idtheftcenter.org/artman2/publish/c_guide
/Solution_16.shtml.
In addition, the ITRC recommends that you avoid disclosing the person's date of birth or
mother's maiden name in obituaries and funeral notices, which are often scanned by
identity thieves.
To learn more about these threats and how to protect yourself and your family from
Identity Theft, you can read my past newsletters at the Merchants Identity Theft
Educational Website at www.idtheftedu.com.
Sincerely,
Mark