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Avoiding Senior Identity Theft and Financial Scams

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Each year, more than 12 million Americans have their identities stolen. Of all identity theft victims, the senior population is the biggest demographic affected. According to the 2014 annual report from the Federal Trade Commission, 36 percent of all identity theft victims were 50 or older. The same report stated that 49 percent of the mature market are victims of fraud. The average cost to each identity theft victim is $1,500, but this can be much more depending on what type of theft has taken place. Victims spend an average of 12 hours per incident resolving identity fraud, and the…

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