Share:

One of the most prevalent problems facing senior citizens today is financial fraud. Whether it’s an overseas caller tricking them out of their financial information or identity thieves stealing credit card numbers off receipts, scams are constantly occurring. While it can seem difficult to protect aging loved ones and seniors from fraud, it’s not impossible. Here, North Jersey Federal Credit Union, the premier credit union in Totowa, NJ, shares a few tips to reduce the risk of seniors falling prey to scams.

Credit Union Shares 3 Anti-Fraud Tips

1. Put Their Number on the Do Not Call List

Unfortunately, some companies sell contact information after an individual makes a purchase, donation, or signs up for a mailing list. This information can easily make its way into the hands of a scam artist. Protect your loved ones by adding their phone numbers to the National Do Not Call Registry. This can reduce the frequency of scam calls and gives you a way to report scams to the authorities if calls continue.

2. Shred Receipts

Credit UnionThis is the easiest way to keep would-be thieves from stealing credit card information out of the trash bin. Cut the receipts into small strips with scissors or purchase a paper shredder from a local office supply store. The less information they have access to, the harder it will be for thieves and scammers to get a hold of your loved one’s account information.  

3. Check Account Balances Together

If your loved one is comfortable with it, check their account balances together. The two of you can go over the charges, withdrawals, and deposits to make sure that everything is in order. If anything looks fishy, contact the bank or credit union immediately. By staying involved, you’ll catch frauds and scams more quickly before they can do long-term damage to your loved one’s bank account.

For more ways to protect financial scams, visit North Jersey Federal Credit Union in Totowa. Their personal banking specialists will help your senior stay safe from fraud and scams. They’ll work with you to seamlessly manage finances and monitor accounts. Whether your loved one wants to switch their account to a credit union or you’re looking for a personal loan to cover the cost of their care, call (973) 785-9200. Learn more about their services online.

tracking