Why Scam Awareness Matters for Older Adults

Fraud affects people of every age, but reported losses among older adults are substantial. In 2025, Americans age 60 and older reported approximately $7.7 billion in losses from internet crime, according to the FBI’s Internet Crime Complaint Center. Investment fraud was the largest source of financial losses reported across all age groups.

Scams can also be difficult to recognize because criminals increasingly use technology to make their stories appear legitimate. They can manipulate caller ID, copy familiar company logos, build convincing websites, and even use artificial intelligence to imitate someone’s voice.

The safest approach is not to determine immediately whether something is real. Instead, stop the conversation and verify it independently.

Common Scams Seniors Should Know

Government and Business Impersonation Scams

A scammer may claim to represent Social Security, Medicare, the IRS, a bank, a utility company, law enforcement, or another familiar organization.

They may tell you:

• Your account has been compromised
• Your Social Security number has been suspended
• You owe money or face legal consequences
• Someone has stolen your identity
• Your bank accounts or retirement savings are at risk
  
  

The story is designed to create fear and urgency.

The Federal Trade Commission warns that scammers commonly impersonate organizations people already know and may manipulate caller ID so the number appears legitimate.

If you receive an unexpected call, text, or email, do not use the contact information provided in the message. Find the organization’s official number independently and contact it yourself.

Family Emergency and Grandparent Scams

A caller may claim to be a child, grandchild, other relative, lawyer, doctor, or police officer dealing with an emergency. They may say there has been an accident, arrest, medical problem, or other crisis and insist that money is needed immediately.

Some scammers now use AI voice cloning to imitate the voice of a real family member using a short audio sample.

If someone contacts you with an emergency:

1. Hang up.
2. Call your family member directly using a number you already have.
3. Contact another relative if you cannot reach them.
4. Do not send money until you have independently confirmed what happened.
   
   

Families can also create a private code word or question to verify unexpected emergency requests.

Tech Support Scams

Tech support scams often begin with an unexpected phone call, email, text, or computer pop-up claiming that something is wrong with your device or account.

The scammer may offer to fix the problem and ask you to:

• Download software
• Give them remote access to your computer
• Provide passwords or financial information
• Pay for unnecessary services
• Move money because your banking information has supposedly been compromised
  
  

Tech support fraud remains one of the common schemes affecting older adults, according to the FBI.

Do not give an unexpected caller remote access to your computer. If you believe there may actually be a problem, contact a trusted technology provider yourself.

Investment and Cryptocurrency Scams

Investment scams may promise unusually high returns, little or no risk, exclusive opportunities, or guaranteed profits.

Some begin through social media, dating apps, text messages, online investment groups, or seemingly accidental messages from strangers. Victims may be directed to professional-looking websites or apps that display fake investment gains.

Investment scams resulted in more than $3.5 billion in reported losses among people over 60 in 2025, according to the FBI.

Be especially cautious if someone you met online begins giving financial advice or encouraging you to invest in cryptocurrency, gold, or an unfamiliar platform.

Before investing, independently research the company and financial professional. Never rely solely on links or information provided by the person promoting the investment.

Medicare and Social Security Scams

Scammers may pretend to represent Medicare or Social Security and ask for identification numbers, banking information, or payment.

Medicare recommends protecting your Medicare Number and Social Security Number and giving them only to trusted health care providers, insurers, or other organizations that legitimately need the information. Medicare also notes that it will not unexpectedly call to sell you something or visit your home to do so.

Social Security also warns that scammers may spoof government phone numbers and use the names of real employees to appear legitimate.

If you are unsure about a communication concerning your benefits, contact Medicare or Social Security directly rather than responding to the message.

Warning Signs of a Scam

Although the stories change, many scams use the same tactics.

Be cautious if someone:

• Pressures you to act immediately
• Tells you not to hang up
• Asks you to keep the situation secret
• Threatens arrest or other serious consequences
• Says your money must be transferred to “protect” it
• Requests payment with gift cards, cryptocurrency, wire transfers, cash, or a payment app
• Asks for passwords or security verification codes
• Insists that you lie to your bank or family about why you are withdrawing money
• Asks for remote access to your computer
• Promises guaranteed investment returns or a prize that requires payment first
  
  

The FTC identifies pressure, impersonation, unexpected problems or prizes, and specific payment demands as major warning signs of fraud.

Use the Stop, Verify, Tell Rule

When something unexpected involves money or personal information, remember three simple steps.

Step One: Stop

• Do not allow an unexpected caller or message to rush you into making a decision.
• Hang up the phone, close the message, or step away from the computer. Legitimate organizations will give you time to verify what is happening.

Step Two: Verify

• Check the story independently.
• Call your bank using the number on the back of your card. Contact a family member using the number already saved in your phone. Visit the official website of the organization instead of clicking a link from a message.
• Do not rely on caller ID. Scammers can make a call appear to come from a legitimate organization.

Step Three: Tell

• Talk to someone you trust before sending money or providing sensitive information.
• A family member, friend, caregiver, bank employee, or other trusted person may recognize something suspicious that is harder to see when you are under pressure.

Simple Ways to Protect Yourself Every Day

A few habits can make it harder for scammers to gain access to your information or accounts.

How Families and Caregivers Can Help

Family members and caregivers can play an important role in scam prevention without taking away an older adult’s independence.

Create an environment where unusual calls, messages, and financial requests can be discussed without embarrassment. Scammers often depend on secrecy and may specifically tell their target not to speak with anyone else.

Consider establishing a family rule to check with another trusted person before:

• Sending a large or unusual payment
• Transferring money to a new account
• Purchasing cryptocurrency or large amounts of gift cards
• Responding to an unexpected family emergency
• Giving someone remote access to a computer
• Making an investment suggested by someone recently met online
  
  

The goal is to add a second layer of protection when a situation feels unusual or urgent.

What to Do If You Think You’ve Been Scammed

If money or personal information has already been shared, act quickly.

Contact the bank, credit card company, payment service, wire transfer company, or other financial institution involved and explain that the transaction may be fraudulent. Ask whether the payment can be stopped or reversed.

If you shared a password, change it immediately and update any other accounts where you used the same password.

If a scammer had remote access to your computer or phone, disconnect the device from the internet and have it checked before using it for sensitive activities.

The FTC provides specific recovery steps depending on whether you paid a scammer, provided personal information, or gave someone access to a device.

If you suspect a scam, reporting it can help protect both you and others.

• General fraud and scams can be reported to the Federal Trade Commission at ReportFraud.ftc.gov.
• Online and internet-related crimes can be reported to the FBI Internet Crime Complaint Center (IC3).
• Social Security-related scams should be reported directly to the Social Security Administration’s Office of the Inspector General.

Staying One Step Ahead of Scammers

Scammers succeed by creating urgency, fear, excitement, or trust before asking someone to act. The details may change, but the safest response remains the same: slow down, verify the request independently, and involve someone you trust when money or personal information is at stake.

You do not have to decide during the original phone call or message. Taking a few extra minutes to check the story can be one of the most effective ways to protect your finances, identity, and peace of mind.