Skip to Content
Close Icon

Apply for Online Banking

5 Tips to Protect Older Americans From Financial Fraud

In recognition of Older Americans Month in May, UBTC is providing tips and advice to prevent financial exploitation of older adults.

Elder financial abuse is best combated when bankers and customers work together. To help older Americans protect themselves, UBTC is offering following these tips:

  • Keep personal information private. Never share your social security number, account information, or personal details over the phone or internet, unless you initiated contact with a trusted source.
  • Shred! Shred! Shred! Shred receipts, bank statements and unused credit card offers before throwing them away so fraudsters can’t piece together your personal information.
  • Don’t let a so-called “advisor” pressure you. Never let a new or untrusted “advisor” pressure you into sharing personal or financial details. He or she could be a fraudster.
  • Check your credit report. Customers should check their credit report at least once a year to ensure no new credit cards or accounts have been opened by criminals in your name. To receive a free copy of your credit report from each of the three credit reporting agencies, visit the Federal Trade Commission’s website at www.annualcreditreport.com, or call 1-877-322-8228.

Never rush into a financial decision. Ask for details in writing and get a second opinion from a trusted financial advisor or attorney before signing any document you don’t understand.