Retired
master forger warns:
New scams target Seniors' homes
NORWALK, Conn., July 15, 2003 --
Retired master forger Frank Abagnale Jr. has a warning for senior
citizens across America: Identity thieves are targeting the home equity
that seniors have built up in their homes. One industry group estimates
almost 10,000 identity theft victims had home loans - totaling about
$300 million - taken out in their names in 2002.
"First, they steal information
from a senior citizen's mailbox or the public records," Abagnale
said. "Then they take out a mortgage on the senior's home. They
apply for a small enough mortgage to avoid intense scrutiny. Then they
cash the check and leave the homeowner to discover the theft when a
mortgage payment book arrives in the mail.
"The best way to prevent identity
theft is to protect your personal information - don't leave your
outgoing mail in a mailbox that criminals can open," he said.
"Monitor your credit history through a service like
www.PrivacyGuard.com or 1-866-GuardMe (1-866-482-7363), where you can
obtain daily updates if someone applies for credit in your name.
Together, this is a one-two punch that will knock identity thieves away
from your home.
"It can be terribly upsetting for
a senior citizen to have to clear up the mess left behind by an identity
thief who fraudulently obtains a home equity loan," he said.
"Usually, identity theft losses are covered by the bank, credit
card company or store -- who passes this cost on to the rest of us.
Identity theft is never a 'victimless' crime -- we all help pay the bill
for it."
A best-selling author, Abagnale
detailed his past crimes in the 1980 best-seller, Catch Me If You Can.
This summer, Catch Me If You Can is playing on premium cable channels
across America and on DVD
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Retired
master forger warns: