Identity Theft and Fraud/Scams
In this Level Up Law presentation, Taylor Ott, Staff Attorney and SCLS Elder Law Unit Head, explores the new law in South Carolina (S.425) that provides some tools allowing banks, financial advisers, and others to protect the money and property of seniors and vulnerable adults and stop potential financial abuse and exploitation.
Identity Theft is the largest consumer complaint filed with the Federal Trade Commission (FTC) annually. If you have been the victim of identity theft, it could mean someone has used your name to make purchases, get credit cards, rent an apartment or obtain utilities without your permission. The Federal Trade Commission has created letters (in this booklet) that consumers can use to notify a debt collector or credit bureau of the theft of your identity.
Financial scams targeting seniors have become so prevalent they're now considered the crime of the 21st century. Why? Because seniors are thought to have a significant amount of money sitting in their accounts. But it's not just wealthy seniors who are targeted. Low-income older adults are also at risk. Review our list of the top 10 scams targeting seniors, so you can identify one before it's too late.