Seniors Use Direct Deposit To Protect Your Money And Identity

Seniors Use Direct Deposit To Protect Your Money And Identity

Seniors: Use Direct Deposit To Protect Your Money And Identity
What if​ someone stole the​ monthly check you depend on? How would you survive?
Each month about 12 million Social Security and other federal benefit checks are mailed,​ many of​ them to​ senior citizens .​
Criminals know when these checks arrive in​ mailboxes .​
They also know that each month most seniors venture out to​ cash or​ deposit their checks.
But seniors can outsmart them.
These days,​ it​ is​ imperative that seniors arm themselves with information and practical safeguards to​ keep their monthly income safe,​ said Al Lenhardt,​ president and CEO of​ the​ National Crime Prevention Council,​ a​ leader in​ senior fraud prevention.
What can seniors do to​ protect themselves against financial crimes? Often,​ it's as​ simple as​ signing up for direct deposit .​
During National Safety Month in​ June and throughout the​ year,​ the​ U.S .​
Department of​ the​ Treasury and the​ National Crime Prevention Council are urging people who receive Social Security and other federal benefits to​ sign up for direct deposit and avoid becoming a​ victim of​ identity theft,​ fraud or​ robbery.
According to​ the​ Federal Trade Commission,​ nearly 25 million Americans (11.2 percent of​ the​ adult population) experience consumer fraud each year .​
Criminals and con artists often develop scams that target seniors,​ making them a​ vulnerable population.
One individual was getting his check stolen several times,​ sometimes by his own family,​ said Sgt .​
Vince Higgins,​ a​ public information officer with the​ Memphis Police Department who works closely with seniors .​
Now that he's signed up for direct deposit,​ he's happy,​ he's confident-he's no longer worried about where his money is​ or​ who's got his money .​
It's safe in​ his bank account.
Sgt .​
Higgins and hundreds of​ other trusted sources like him are partners in​ Go Direct,​ a​ campaign sponsored by the​ Treasury and the​ Federal Reserve Banks to​ motivate Americans who get Social Security and other federal benefits checks to​ switch to​ the​ safer,​ easier option of​ direct deposit.
Enrolling in​ direct deposit can offer much-needed peace of​ mind to​ seniors,​ people with disabilities and others who rely on​ Social Security .​
Direct deposit eliminates the​ risk of​ stolen checks and forgeries and helps protect people from identity theft .​
It also gives people more control over their money and allows immediate access to​ funds from virtually anywhere.

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