How to Protect Against Elder Fraud and Senior Scams 

Seniors tend to fall prey to different types of scams than younger adults. The FTC report found that adults 60 and older are nearly five times more likely to report losing money in tech support scams than younger adults, for instance, and are “nearly three times as likely to report a loss on a prize, sweepstakes, or lottery scam.”² Lists of senior scams are readily available online from the government and nonprofit organizations dedicated to aging. Here are some of the scams to look out for:

• Tech support scams. Fraudsters can send pop-up messages warning about non-existent computer problems, such as viruses, according to the FTC. Pretending to be “tech support,” they ask for remote access to your computer, then charge money for unnecessary services.⁸
• Social Security Administration imposters. These fraudsters might contact someone by phone, say that their Social Security number has been suspended, and then try to exploit their anxiety to get them to “confirm” the number or provide bank account details.⁹ They often use spoofing, which makes their incoming call look official on caller ID.⁹ Internal Revenue Service (IRS) imposters also try to dupe people.¹⁰
• You’ve won! Telemarketer scammers steal by announcing that someone has won a non-existent lottery or car or vacation – all they need to do is pay for shipping, insurance, or taxes.¹¹
• Romance shakedown. Scams like this come about on otherwise legitimate dating sites, with fraudsters creating fake profiles, building relationships, and then making off with their victim’s money.¹¹

Keep in mind that there are other types of financial traps that older adults may fall into, which are not covered by this article, such as “elder financial abuse.”¹² That’s when a relative or someone else entrusted to manage an elderly person’s finances takes advantage of them.

Older adults need to be on the alert for senior scams, with adult family members and caretakers pitching in as needed. As a baseline, they should remember that government organizations don’t typically come to people’s homes, contact them by phone, or send unsolicited emails that threaten or ask for personal information, says the FTC.¹³ It’s worth looking online to learn the many tips and habits that can help, such as pausing to look up a legitimate website or phone number before you even think about clicking a link or taking a call. Here are some tips to avoid this situation:

• Call blocking. Put your phone number on the National Do Not Call Registry and use your phone service’s features to block robocallers from calling you back. While these steps can help, they’re far from foolproof, especially given fraudsters’ ability to keep changing phone lines.¹⁴
• Spam blocking. Mark junk emails as spam, so your spam filter blocks them the next time. Also, look before you click on any link in the email. Some “phishers” will send emails with what look like legitimate addresses, at first glance, but otherwise reveal themselves as counterfeit on close inspection.¹⁵
• Banking tools. You can set up bank alerts on suspicious activity.

Also key to protecting seniors against scams is to report them. A good place to start is the website of the Elder Justice Initiative, which was established to combat elder abuse and fraud.

Understanding the leading ways scammers seek payments from older adults – and going on “high alert” when such methods are solicited – may help some seniors avoid scams.

Gift cards top the list of payment methods reported by older adults for several types of scams, according to the FTC’s Protecting Older Consumers report. But they’re only slightly ahead of credit cards, with gift cards coming in at $118 million and credit cards coming in at $58 million.² The FTC research lists the following payment types and the percentage of senior scam victims who reported paying via each method:²

1. Credit cards: 29%
2. Gift/reload cards: 17%
3. Debit card: 16%
4. Bank transfer or payment: 10%
5. Cryptocurrency: 9%
6. Payment app or service: 8%
7. Wire transfer: 4%
8. Check: 3%
9. Cash: 3%
10. Money order: 1%

A good way to avoid falling victim to scammers seeking payment by gift card is to remember that legitimate transactions shouldn’t ever require payment by gift card.¹⁶ Also, it’s not a good idea to share card numbers or PINs over the phone – whether for gift cards or credit cards.¹⁶ For more, read “Mastering Credit Card Fraud Detection.”

Exactly how often older adults are swindled – and for how much – isn’t really known, since monitoring senior scams usually relies on self-reporting. Some older individuals might not recognize they've been scammed, while others may be worried what could happen if they report it.

Still, clear patterns and trends emerge in regular reports from agencies like the FBI and FTC. In particular, the FTC report findings show: