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