Scammers often target older adults because they may have retirement savings, Social Security income, or other assets. Some fraudsters also take advantage of trust, loneliness, or unfamiliarity with newer technology.
The numbers show just how serious the problem has become. The FBI reported more than 101,000 complaints from Americans age 60 and older in its latest Internet Crime Report, with reported losses reaching billions of dollars. Older victims also had some of the highest average losses among all age groups.
What makes these scams especially troubling is how personal they can feel. A caller may claim to be a grandchild in trouble, a bank employee warning about suspicious activity, or a government worker threatening legal action. The goal is usually the same: create fear or excitement, then pressure the person into acting before they have time to check the story.
Here are 15 scams that seniors and their families should know about.
The Grandparent Scam
The grandparent scam starts with a phone call, text, email, or social media message from someone pretending to be a grandchild or another relative. The fake relative may claim they’ve been arrested, injured in an accident, stranded overseas, or caught in some other emergency.
The scammer usually wants money immediately and may insist that the victim keep the situation secret. Payment might be requested through a wire transfer, gift cards, cryptocurrency, or another difficult-to-reverse method.
If a relative supposedly calls with an emergency, don’t let the pressure rush you into sending money. Hang up and contact that family member directly using a phone number you already have. A simple verification step can stop the scam.
Related: 10 Ridiculous Expectations Placed on Young Adults Today
Fake Charities
A tragedy, natural disaster, or major news event can bring out genuine generosity. Unfortunately, scammers know this too.
Fake charity schemes use phone calls, emails, text messages, websites, and social media posts to solicit donations. The person on the other end may claim to represent a disaster relief group, veterans’ organization, cancer charity, or another familiar cause.
The IRS has warned that scammers often use major events to steal money and personal information from people who want to help.
Before donating, look up the organization independently. Don’t rely on a phone number, website, or donation link supplied by an unsolicited caller or message. Be especially cautious if someone pressures you to donate immediately.
Medicare and Health Insurance Scams
Medicare scams often begin with an unexpected phone call from someone claiming to be a Medicare representative. The caller may offer free medical equipment, lower-cost coverage, or some other benefit.
The real goal may be obtaining a Medicare number, Social Security number, banking information, or other personal details.
A legitimate government agency won’t need you to hand over sensitive information simply because an unexpected caller demands it. If you’re unsure about a Medicare-related request, contact Medicare through an official channel rather than calling the number provided by the person who contacted you.
Related: 15 Money Lessons That Many Adults Learned the Hard Way
Phishing Emails
Phishing emails are among the most common forms of online fraud. A message may appear to come from a bank, delivery company, government agency, online retailer, or familiar service.
The email usually creates a problem that supposedly needs immediate attention. Maybe an account has been locked, a payment failed, or a package is waiting for confirmation. A link then leads to a fake website where the victim is asked to enter a password, credit card number, or other personal information.
Some phishing messages also contain attachments that can install malicious software.
Don’t click links or open attachments simply because an email looks official. Open the company’s legitimate website yourself or use a phone number from a statement or other trusted source.
Home Repair Scams
Home repair scams often begin with someone showing up at the door and pointing out a problem that supposedly needs immediate attention. The person might claim to have noticed roof damage, a dangerous electrical issue, or another expensive repair.
The scammer may ask for a large deposit before starting work and then disappear. In other cases, they perform unnecessary work or charge far more than expected.
Get written estimates from several contractors before agreeing to major work. Check licenses where required, look for references, and avoid anyone who pressures you to make a decision on the spot.
Investment Fraud
Investment scams promise attractive returns while downplaying the risks. A fraudster may promote fake stocks, cryptocurrency opportunities, real estate deals, precious metals, or private investments.
The pitch can sound convincing, especially when the person uses financial terminology or claims to have inside information. Some scammers even build relationships with victims before bringing up the investment.
The Federal Trade Commission reported that consumers lost more than $4.6 billion to investment scams in 2023, making this the largest reported fraud-loss category that year.
Before investing money, research the company and the person selling the investment. Check whether the investment professional or firm is registered with the appropriate regulator. Never hand over money because someone claims an opportunity is available for a limited time.
Lottery and Prize Scams
A call, letter, email, or message announces that you’ve won a sweepstakes or lottery. There’s just one catch: you have to pay a fee, tax, shipping charge, or processing cost before receiving the prize.
That upfront payment is the giveaway.
Real prizes don’t require you to send money to collect winnings. Scammers may request gift cards, cryptocurrency, wire transfers, or bank transfers because those payments can be difficult to recover.
If you don’t remember entering a contest, be especially suspicious of a message claiming you’ve won one.
Romance Scams
Romance scammers build fake relationships with people through dating sites, social media, messaging apps, and other online platforms. They may spend weeks or months gaining someone’s trust before asking for money.
The request often comes with an emotional story: a medical emergency, travel problem, business issue, or family crisis. The scammer may claim they can’t meet in person because of work or another convenient excuse.
Be careful if an online romantic interest quickly asks for money or insists on keeping the relationship entirely online. Never send money to someone you’ve never met simply because they have built an emotional connection with you.
Tech Support Scams
A pop-up appears on the computer warning of a virus. Then a phone number appears, or someone calls claiming to be from Microsoft, Apple, or another technology company.
The fake technician may say the computer has been hacked and offer to fix it. They might ask for remote access, payment, passwords, or other sensitive information.
The FBI received more than 37,500 complaints involving tech support fraud in 2023, with reported losses of more than $924 million.
Legitimate technology companies generally don’t make unexpected calls telling you that your computer has a virus. If something looks wrong with your device, contact the company through its official website or support number.
Gift Card Scams
Gift cards are popular with scammers because they are easy to purchase and difficult to recover once the card number and PIN have been handed over.
A scammer may pretend to be a relative, employer, government employee, or company representative. They might say you need to buy several gift cards and send the numbers to pay a bill, settle an emergency, or avoid a penalty.
No legitimate government agency will demand payment through gift cards. Neither will a real bank or utility company ask you to buy gift cards and provide the codes over the phone.
If someone asks for gift cards as payment, stop and verify the request independently.
Debt Relief and Loan Scams
Debt relief scams target people who are worried about bills, credit card balances, or other financial problems. A company may promise to erase debt, reduce monthly payments, or arrange a low-interest loan.
The catch is often an upfront fee. After receiving the money, the company may stop responding or provide little help.
The Consumer Financial Protection Bureau warns consumers about fraud involving debt relief and other financial services.
Research the company before paying anything. Be suspicious of anyone who guarantees that all your debts will disappear or demands payment before explaining exactly what services you’ll receive.
Free Trial and Subscription Traps
A free trial can turn into an expensive recurring charge if the terms aren’t clear. Some dishonest offers make the cancellation process deliberately difficult or hide the ongoing subscription in the fine print.
The offer might involve vitamins, beauty products, health services, streaming content, or software. After entering a credit card number for the “free” trial, the person may discover recurring charges on their account.
The Federal Trade Commission (FTC) has reported concerns involving deceptive subscription practices.
Before signing up, check the price after the trial ends, the billing schedule, and the cancellation rules. Review bank and credit card statements regularly for charges you don’t recognize.
Unsolicited Sweepstakes and Contest Entries
This scam is similar to a lottery scam but often arrives through letters, phone calls, emails, or messages claiming that you’ve been selected for a special contest.
The victim is told that a prize is waiting but must first pay taxes, processing costs, or another fee. The scammer may also request a Social Security number, bank account information, or other personal details.
The AARP warns that legitimate sweepstakes don’t require people to pay money to receive a prize they’ve supposedly won.
If you’ve never entered the contest, don’t provide money or personal information just because someone claims you’ve been selected.
Pyramid Schemes and MLM Scams
Pyramid schemes often promise easy income through recruitment. A person may be told they can make substantial money by buying products and convincing friends, relatives, or other people to join.
Some legitimate businesses use multi-level marketing structures, but a scheme becomes especially concerning when recruitment is the main source of income and participants are pressured to buy large amounts of inventory or pay repeated fees.
Action Fraud reports that hundreds of millions of pounds have been lost in the UK through pyramid and Ponzi schemes in recent years.
Before joining an income opportunity, research the company carefully. Be cautious about programs that focus heavily on recruiting people or require large upfront purchases.
Bank Account and Social Security Scams
These scams often involve someone pretending to represent a bank, the Social Security Administration, or another government agency.
The caller may claim that an account has been compromised or that a Social Security number has been connected to criminal activity. The victim is then threatened with frozen accounts, arrest, or financial penalties unless they provide information or send money immediately.
The Social Security Administration warns that scammers may impersonate agency employees and use threats to pressure people into giving up personal information or money.
SSA’s most recent data shows that people ages 70 to 84 reported some of the highest average losses from Social Security-related scams.
Don’t give personal information to an unexpected caller just because they claim to represent a government agency or bank. Hang up and contact the organization using an official phone number.
Scammers count on people reacting before they have time to think. A surprising phone call, urgent email, or emotional request doesn’t have to become a financial loss. Take a moment, verify the story through a trusted source, and don’t be afraid to end a conversation that feels suspicious.
Family members can help too. Regular conversations about common scams can make it easier for older adults to recognize warning signs before money or personal information is handed over.
Other Topics You Might Like
- 10 Common Home Renovation Scams You Are Likely to Fall for
- 16 Things Almost Every Woman Over 60 Will Never Tolerate
- 15 Real Complaints Seniors Have That’ll Have You Nodding in Agreement
- 13 Fashion Faux Pas That Can Make Seniors Look Older Than Their Years
- 13 Fashion Faux Pas That Can Make Seniors Look Older Than Their Years
