It's a sad reality but seniors are often the target of financial scams. They aren’t targeted because they are stupid but rather because most seniors aren’t known to be digitally savvy. You can protect your elders by teaching them to stay safe online and by offering to set up alerts on their accounts. Just remember that as we age, we fight to keep our independence. If you want to do something to help an aging friend or family member, you shouldn’t do it behind their back. 

Talk to your mom and dad, or neighbor, and explain that you have the knowledge and expertise needed to protect them from con artists and that you want to help. The first thing you should do is freeze their credit. They should sit beside you as you as you set up their accounts with each credit reporting agency because knowledge is power. By being with you when you create their accounts, they’ll be able to see their credit score, credit inquiry history, and credit account details. If something isn’t right, they can point it out. 

Freezing credit is simple and will prevent someone else from accessing their credit report or from opening an account in their name. In fact, it’s something everyone should do. When the need for a new credit card or personal loan arises, it’s just as easy to unfreeze credit. Simply log into the account, click the tab to unfreeze credit, wait an hour or so, submit the credit card or loan application, then click the tab to freeze your credit once you are approved. 

Once their credit is frozen, when anyone attempts to access their credit or use their name to open a new account, they’ll receive a fraud alert. You can set up family fraud alerts so you both stay informed. You can further protect your elders by setting up family fraud alerts on their bank accounts.