Identity theft is the fastest growing crime in the U.S., according to the Federal Trade Commission, so it's a good idea to be wary about thieves stealing your loved ones' personal information, such as their Social Security number or their bank or credit card account numbers and passwords. With this information, identity thieves can open new accounts, rack up charges on credit cards, empty bank accounts, and generally wreak havoc on their bank balances and credit ratings.

One way to prevent identity theft is to sign up your parents or other family members for credit monitoring services such as Experian and Identity Guard, which will alert you or them to any suspicious activity in their credit file, including applications for new credit or even suspiciously large spending on any existing accounts (most major credit card companies offer similar plans). These services can catch identity thieves before they do much or any damage.