Earlier this year, the Federal Trade Commission released its 2023 Consumer Sentinel Network Data Book, aggregated from millions of consumer reports. These statistics cast light on a grim yet important reality — financial fraud and identity theft can happen to anyone at any age.
Working-age adults
Adults in their 30s are the most likely targets for identity theft. But consumers ages 20–69 all report similar levels of fraud and similar financial losses.
Whether you’re just starting your career or counting down the days until retirement, it’s always important to monitor and secure your finances. Be sure to check your credit reports and bank statements, keeping an eye out for discrepancies.
Senior adults
While seniors age 70 and up are less likely to report incidents of fraud, they are susceptible to much greater financial losses — two to three times higher than the average for younger adults. These numbers illustrate the importance of senior advocacy. Intervention, education and support are vital for older adults and their caregivers to combat fraud and financial exploitation. Learn more and access a wealth of resources by visiting the Alabama Department of Senior Services website.
Children and teens
Minors have become frequent targets of identity theft, since they rarely begin monitoring their credit reports prior to graduating high school. Just last year in the U.S., there were more than 20,000 reported cases of identity theft victimizing children and teenagers. That’s why the FTC recommends checking a child’s credit report once he or she turns 16. This will allow families time to report the fraud and correct their child’s financial history “before he or she applies for a job, a college loan, a car loan or a credit card or tries to rent a place to live.”
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