Identity theft: the new elder crime

Theft is a serious issue. When someone steals from you – whether they are strangers or family – it is devastating; but, what happens when they steal something that is far more important than money or personal belongings?

A new study showed stealing the identities of elderly parents was becoming more prevalent in America.

American security firm ID Analytics recently looked at billions of credit applications and other related data.

Head researcher Stephen Coggeshall tried looking for people in their 70s and 80s who were sharing their SSN and family name with someone roughly 20 years younger. The results found more than two million elderly adults were sharing a SSN with their adult children.

“This was very surprising to me,” Mr Coggeshall told The Red Tape Chronicles. “I didn’t think there would be a substantially higher number than young parents using their kids’ IDs. When you have a 60-year-old and an 80-year-old sharing an identity, it is unlikely the 80-year-old is the one seeking credit,” he added.

Researchers said there was evidence of widespread prevalence of elder identity theft, which was representing a “new wrinkle” in society’s battle against digital age crime.

“The realities of familial identity theft are far worse than anything you see in a soap opera. It is the ultimate in family betrayal,” Mr Coggeshall claimed.

However, Jaimee Napp, an American consultant and expert on ID theft victim rights, she was not surprised by the findings.

“Financial exploitation is a high yield, low risk crime. A crime can be easier for a child to commit against an older parent because of access to their information,” Ms Napp said.

While many children feel “entitled” to their parents’ money, Ms Napp claimed these adult children try to “justify” the crime when the parent suffers from dementia or other mentally debilitating illnesses.

As an issue which had not yet received attention, Ms Napp said elderly family member ID theft often happened “silently”.

A recent survey aimed at encouraging Australians to think more carefully about how they withdraw money from ATMs, has been created by Australian Federal Police to address the growing problem of identity fraud.

The survey, which can be downloaded from the Australian Federal Police website, coincides with National Identity Fraud Awareness Week, which kicks off today Monday, 17 October 2011.

The survey gives participants tips on how to protect their identity, which can be achieved by checking ATMs for any signs of tampering, shredding bank statements and other documents rather than putting them in the recycling bin, and deleting spam emails from deleted email folders.

Fact

Half a million people in Australia are reportedly affected by identity fraud each year, costing the community almost $170 million.

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