How Seniors Can Stay Safe While Shopping Online

There’s no denying that online shopping is here to stay. It’s easy and convenient, especially for older adults who have mobility struggles or no longer do much driving. There is, however, a downside to sharing financial information digitally. For seniors who may not be very tech savvy, the risk is higher than for younger people.

According to the Federal Bureau of Investigation (FBI), older adults lose an estimated $3 billion a year to what is known as elder fraud. The FBI says seniors are often targeted because they tend to be more trusting and less knowledgeable about technology. And many older adults are in strong financial positions, such as owning a home and having greater savings and investments.

So, what can you do to shop more safely online or to help older members of your family do so? Here are a few steps you can take to avoid online fraud and scams.

Guard Against Online Financial Scams

• Use only credit cards, not debit cards, when shopping online

While many people like the convenience of a debit card, using one when you’re shopping online is not a good idea. If you pay with a debit card and fall victim to a scam, a thief can empty your financial account before you even know something is wrong. But when the vendor you buy from isn’t legitimate, or someone uses your card for online purchases, a credit card company will usually take quick action to protect you. Your bank likely will, as well, but it will take much longer. In the meantime, your accounts may be frozen until the investigation is complete.

• Stick to shopping from stores you know and trust offline

Unfortunately, social media has become a popular way for unscrupulous people to target older adults for fraud. They buy ads featuring attractive clothing and household items for low prices. People click on the links, not realizing they’re scams. Shoppers’ products never arrive, or their credit card numbers are stolen, or both. One way to avoid that is to buy online only from stores you’ve visited in person. Also, go directly to the store’s website using a Google search. Never follow links you receive in an email or on a social media platform, no matter how legitimate they look.

• Check the site’s security before shopping

Before you shop, it’s important to ensure the site is secure. This isn’t as difficult as it may sound. You can do that by verifying the site’s web address begins with “https” and has a tiny icon of a lock next to it. That combination signals a site is secure. If you don’t see that lock or the “s” after “http,” it’s best to avoid shopping on the site. Doing so might put you at risk for identity theft or other types of financial scams.

• Routinely monitor financial accounts

Finally, don’t set up your accounts to pay bills automatically and skip reviewing them on a regular basis. You could overlook fraudulent activity for months. This applies to your credit cards, investment accounts, and banking. It’s also a good idea to set up alerts so you are notified when a major charge is made, an account balance reaches a certain amount, or there is a login from a new device.

Learn More About Financial Scams Against Seniors

If you’d like to learn more about scams that target older adults, Financial Scams That Target Seniors is a good article to read. It offers more insight into the ways seniors fall victim to crime, from fake fundraisers to fraudulent contractors.