Introduction to fraud

Watch out for fraud.

What is fraud? Fraud may be limited to an isolated attempt to steal money from an elderly loved ones’ existing account, such as a charge on their stolen credit card. Fraud can also be a series of ongoing events and activities designed to drain elderly people of their resources.

A debit card being used to pay the check at a restaurant.If criminals obtain a senior’s credit cards, debit/ATM cards, or other personal financial information such as account numbers, passwords, or Social Security numbers, they might be able to drain the senior’s financial accounts or make charges to the senior’s credit cards. Thieves might also commit a crime called identity theft which occurs when someone steals personal information and uses it to open new accounts or initiate transactions in a senior’s name.

Identity theft can wreak havoc by seriously damaging credit, financial reputation, and a person’s reputation.

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