Someone Is Using Your Identity. Here's How to Find Out — and Stop It.

What Identity Theft Is — and How Seniors Are Targeted

Identity theft occurs when someone uses your personal information — typically your Social Security number, financial account details, Medicare number, or other identifying data — to commit fraud or theft in your name. The consequences range from fraudulent credit card charges you need to dispute, to new loans or credit accounts opened without your knowledge, to tax returns filed in your name claiming your refund, to your Medicare being billed for services you never received.

Seniors are disproportionately targeted for several reasons that have nothing to do with intelligence or awareness. Baby Boomers tend to have accumulated more wealth over a lifetime than younger generations, making the financial reward higher. They are more likely to carry their Social Security card or Medicare card in their wallet — a physical theft risk. And the scale of data breaches means that personal information is readily available for purchase on criminal markets, making age the only real variable in who gets targeted next.

According to security research, Baby Boomers suffer the largest financial losses per identity theft incident of any age group, and bank account fraud — the most financially damaging form — accounts for a higher percentage of their reports than for any younger group.

How Thieves Get Your Information

Data Breaches

The most common source of stolen personal information is data breaches at companies, hospitals, government agencies, and financial institutions where your data is stored. In 2023 alone, multiple large-scale breaches exposed hundreds of millions of Social Security numbers, birthdates, and financial details. You may have received breach notification letters — these are real, and the steps they recommend taking are important.

Phishing and Social Engineering

Fake emails, texts, and phone calls impersonating your bank, Medicare, the IRS, or Social Security Administration trick you into providing your SSN, account numbers, or passwords. These stolen credentials are used immediately or sold to criminal networks.

Physical Theft

Stolen wallets, mail theft (particularly financial statements, pre-approved credit card offers, and Medicare communications), and "shoulder surfing" at ATMs or in public spaces. Carrying your Social Security card in your wallet — which many seniors do — is a significant risk if your wallet is ever lost or stolen.

Family and Caregiver Fraud

A particularly painful form: financial identity theft committed by family members, caregivers, or trusted individuals with access to personal documents. This accounts for a meaningful share of elder financial exploitation and is significantly underreported due to family dynamics and shame.

Warning Signs Your Identity Has Been Stolen

Identity theft often goes undetected for months. The earlier you catch it, the less damage it causes. Watch for these signals:

• Unfamiliar accounts, loans, or charges on your credit report. Review your free credit reports at AnnualCreditReport.com — you're entitled to free reports from all three bureaus weekly through 2026.
• Bills or collection calls for accounts you didn't open. Debt collectors calling about debts you don't recognise are a serious red flag.
• A notice from the IRS that more than one tax return was filed in your name, or a refund you were expecting has already been claimed.
• Your Medicare Explanation of Benefits shows services you didn't receive. Review every Medicare statement carefully — this is medical identity theft.
• A credit application is denied unexpectedly due to derogatory information you don't recognise.
• You stop receiving expected financial statements — a thief may have changed your mailing address to intercept them.
• Unfamiliar medical bills or insurance claims. Someone may be using your insurance details to obtain medical care.
• Your bank account shows withdrawals or transfers you didn't make.

The 6 Immediate Steps If Your Identity Is Stolen

Act in this order. Time matters — especially for financial account access and credit fraud.

Fraud Alert vs. Credit Freeze — What's the Difference?

Fraud Alert

A fraud alert notifies creditors to take extra steps to verify your identity before opening new accounts. It lasts one year and only needs to be placed with one bureau — they are required to notify the other two. It doesn't prevent access to your credit report.

Credit Freeze (Recommended)

A credit freeze — also called a security freeze — completely blocks new creditors from accessing your credit report, which prevents most new account fraud. It is free to place and lift at all three bureaus, and remains in place until you lift it. You'll need to temporarily lift it when applying for legitimate credit.

Types of Identity Theft and Specific Steps

Tax Identity Theft

Someone files a tax return using your Social Security number and claims your refund before you file. You'll find out when the IRS notifies you that a return has already been filed in your name. Respond immediately: complete IRS Form 14039 (Identity Theft Affidavit), file a paper return with an explanation, and get an IRS Identity Protection PIN for all future filings. Call the IRS Identity Protection Specialised Unit at 800-908-4490.

Medicare Identity Theft

Your Medicare number is used to bill Medicare for services you never received. Review your Medicare Summary Notice carefully every time you receive one. Report any unfamiliar services to Medicare at 800-633-4227 or medicare.gov. Also report to the HHS Office of Inspector General at oig.hhs.gov.

Account Takeover

A thief gains access to your existing bank account, credit card, or investment account and drains funds or makes unauthorised purchases. Contact your financial institution immediately, request new account numbers, and review all recent transactions. Most financial institutions have fraud protection policies that may reimburse losses reported promptly.

New Account Fraud

A thief opens new credit cards, loans, or utility accounts in your name using your SSN. A credit freeze prevents this entirely. For existing fraudulent accounts, the FTC Identity Theft Report and police report are your tools for disputing them with creditors and credit bureaus.

Protecting Yourself Going Forward

• Place a credit freeze at all three bureaus now — even if you haven't been a victim. It costs nothing, prevents most new account fraud, and can be lifted temporarily when needed.
• Get an IRS Identity Protection PIN at IRS.gov/IPPIN — prevents anyone from filing a tax return in your name even if they have your SSN.
• Create a my Social Security account at ssa.gov/myaccount — this allows you to monitor your Social Security record and, importantly, add blocks that prevent anyone from changing your information online.
• Don't carry your Social Security card — leave it in a secure location at home. Memorise your number or store it securely elsewhere.
• Review your credit reports regularly — free weekly at AnnualCreditReport.com through 2026.
• Shred financial documents before disposal — account statements, pre-approved credit offers, Medicare summaries, and anything with your SSN or account numbers.
• Use unique, strong passwords for each financial account. Consider a password manager. Enable two-factor authentication on all accounts that offer it.
• Be cautious about what mail you leave in your mailbox — particularly outgoing mail with cheques or financial information. Use a USPS collection box or post office instead.

A Real Case — What Actually Happened

Source: U.S. Attorney's Office, Northern District of Georgia · June 20, 2025 · DOJ Press Release · Guilty plea — established fact (April 2025)

In April 2025, Rederic Young and Randolph Leggs pleaded guilty to bank fraud and conspiracy to commit money laundering for their roles in a retirement account takeover scheme. According to court documents, from July 2022 through January 2023, scammers involved in the scheme tricked an investment management company into authorizing a distribution to an impostor posing as the true accountholder. The conspirators created phony identification documents for the victim — forged IDs in the victim's name — then used those documents to open bank accounts that received and laundered the stolen retirement funds.

In a related case, Kendall Grey, a former bank employee, pleaded guilty on June 10, 2025, to one count of bank fraud. Grey abused his position to open the fraudulent bank accounts used by Young and Leggs, knowing the accounts would receive and launder identity theft proceeds. Sentencing for all three is pending. The same DOJ press release also described the prosecution of Parikh and Patel, who were convicted at trial in June 2025 for posing as government officials, telling victims their Social Security numbers had been "compromised," and directing them — many of whom were elderly — to deposit cashier's checks or wire money to scammer-controlled accounts.

These two cases from the Northern District of Georgia illustrate both major forms of identity theft targeting seniors: the silent account takeover (victim unaware until funds are gone) and the social engineering attack (victim deceived into believing they must act urgently to protect their SSN). Both rely on identity documents — real or forged — to move stolen money through the banking system.

Identity Theft — 2024–2025 Data

Identity theft complaint data from the FTC Consumer Sentinel Network Data Book 2024. Loss figures for adults 60+ from the FBI IC3 2025 Annual Report. Note: identity theft losses in IC3 data are significantly underreported — the FTC estimates fewer than 1 in 8 fraud victims report, and many identity theft victims don't realize they've been targeted for weeks or months.

Identity theft losses among adults 60 and older grew 70% in 2025 versus 2024, driven primarily by retirement account takeovers and SSN misuse linked to data breaches. The FTC's 2024 data identified credit card fraud as the most common form (449,076 complaints), but financial loss per incident is highest for retirement and investment account takeovers — which disproportionately affect this age group.

Sources Used on This Page

All statistics on this page are drawn from primary government sources. Loss figures represent self-reported amounts and are significant underestimates. This page is reviewed on an ongoing basis as new data becomes available.

Frequently Asked Questions

Last updated: April 2026