Fraudsters and thieves have your aging parents in their sights.

Why? A key factor in some cases of elder financial exploitation is mild cognitive impairment which can diminish an older adult’s ability to make sound financial decisions, according to Money Smarts for Older Adults, a resource guide created by the Consumer Financial Protection Bureau.

Here’s how to protect your parents, their money, and their personal financial information from identity thieves and other scammers.

1. Keep them safe online

Scammers approach and try to trick seniors by email, social media and text messages, says Eva Velasquez, president and chief executive officer of the Identity Theft Resource Center.

“They put the same level of trust as if they were having an in-person interaction and that’s a big mistake,” Velasquez explains. “They end up parting with their money and sometimes they give their information.”

Urge your parents to delete all suspicious emails, social media posts and text messages. And if your parents are unsure if an email is legitimate or not, they should go directly to the company’s website and not click on links within the email, which could lead to a phony website, Velasquez recommends.

“If it’s suspicious, get rid of it,” says Michael Kaiser, executive director of the National Cyber Security Alliance. “Very smart people have clicked on things you shouldn’t click. It’s not a sign of aging. The bad guys are very smart.”

2. Keep computers current

Do a quick security check of your parents’ laptop and computer. Make sure the operating system, security and other software, and Web browsers are all up-to-date.

“Update all software,” Kaiser says. “(Software updates) may include updated security patches and security updates that might patch or fix vulnerabilities that are known to exist.”

Kaiser also recommends moving beyond a simple login and password for online accounts to a two-step or multi-factor authentication.

“In a lot of cases children become the IT staff for their parents,” Kaiser says.

3. Guard their personal information

Educate your parents about identity theft and the importance of guarding their private financial information.

For instance, tell them to never carry their Social Security card in their wallet and be very careful with a Medicare card, since the card number is also your Social Security number. The Identity Theft Resource Center recommends only carrying your Medicare card in your wallet on days when you need it and otherwise creating a photocopy of the Medicare card, cutting off the final four digits of your Social Security number, and marking this copy with the name and phone number of a contact who can provide the last four digits and pertinent medical history in the case of an emergency.

Seniors who have caregivers assisting them at home should take steps to safeguard their private financial information, Velasquez recommends.

“They’re very vulnerable there,” Velasquez says. “Lock up any of that information. Don’t allow too much latitude to that person. Don’t give them authority to pay bills.”

Having a locked mailbox is another way to protect private financial and other information, Velasquez recommends.

4. Protect their credit

A thief who swipes your mom or dad’s identity could open up credit accounts in their name or compromise their current financial accounts. Protect your parents’ credit by urging them to check their credit reports on a regular basis.

“Make sure they check their credit report on an annual basis,” says John Breyault, vice president of public policy, telecommunications and fraud for the National Consumers League.

A big change to a parent’s credit score could be another symptom of identity theft, and that’s why it is so important to keep a close eye on a credit score throughout the year. Get your free credit score through WisePiggy.com.

5. Urge them to be safe, not polite

Scammers who contact your parents by phone often call repeatedly and are very aggressive, Breyault says. So don’t waste time with niceties.

“If you’re receiving phone calls, just hang up. It’s not rude at all to hang up on a scammer. These folks are professional criminals,” Breyault says. “Don’t engage, just hang up.”

6. Encourage them to educate themselves

Empower your parents by suggesting they learn more about scams and frauds targeted toward seniors. A few helpful resources include:

• The Federal Trade Commission (http://www.consumer.ftc.gov/)
• The Consumer Financial Protection Bureau (http://www.consumerfinance.gov/older-americans/)
• The National Council on Aging (http://www.ncoa.org/)

“I think it’s really about communicating and not making them feel incapable,” Velasquez says. “Give them a resource list.”