According to a study based on data from the National Center on Elder Abuse, avoiding scams like the Nigerian emailer, the IRS call scammer or “fraud warning person” who sounds convincing, is only half of the equation. A study of 2,000 successful fraud attempts against seniors found that 48% of successful fraud attempts against seniors are by relatives.
The most common form of fraud is financial. It’s unfortunate but it’s real. If you use ID theft protection services for your family, you might think about adding your parents to the plan if you’re in a position to look after their well being. Often the fraud is occurring from the last place most people think of, inside the family. Having ID theft services for them can offer a layer of security without finger-pointing that could turn ugly if you’re suspicious of the activity of certain family members.