How Can You Prevent Senior Fraud?
Did you know scams targeting older adults have become one of the most common forms of exploitation in the United States? In 2025, the Federal Bureau of Investigation (FBI) reported over 200,000 adults age 60 and older lost a combined $7.7 billion from senior fraud, while the Internal Revenue Service Criminal Investigation (IRS-CI) agency oversaw 255 senior fraud investigations in FY2021 through FY2026 with a combined total of alleged losses equaling over $885 million.
This type of fraud targets older adults through phone calls, emails, and even in-person scams to obtain personal information, such as bank login credentials, credit card numbers, or even Social Security numbers, and use it to steal money.
Scammers often assume older individuals are more trusting, isolated from family who might catch a scam in action, and less familiar with online safety features and precautions. Fortunately, there are ways to prevent these scams from happening and it starts by being able to spot the common types of schemes.
Q: WHat is Senior Fraud and how Does it Happen?
A: Senior fraud refers to any scam designed to deceive adults age 60 and older into sharing personal information or personal account access to obtain money or tricking them into sending money.
Common tactics include:
- Fake service or customer service calls or visits for technology or utilities where the scammer poses as a technician offering help
- Online romance scams that persuade an older adult to send money to an individual they believe to be in a long-distance relationship with
- Charity scams where scammers use legitimate non-profits as a cover and urge older adults to make a donation
- Impersonations of government agencies like the Social Security Administration (SSA) or IRS that scare older adults into believing they could be heavily fined or sent to prison if they don’t immediately resolve the issue
- Financial scams that trick older adults into thinking their bank account has been hacked or investment schemes that make them believe they will be set for the future financially
- Family emergency scams where scammers claim an older adult’s loved one is in danger and demand money to resolve the crisis
Scammers commit fraud by creating a great sense of urgency, which pressures victims of senior fraud to act quickly, before they have time to think through what’s happening or verify the request that’s been made.
Q: How Can Older Adults Prevent Fraud?
A: Older adults can protect themselves from senior fraud in a few simple, but effective ways:
- Verify requests directly with the source. For example, if you receive a text message saying your bank account was hacked, call your bank immediately to confirm before clicking any links within the message or taking further action. Or, if someone claims to be a family member in distress, contact them using a known number rather than the one provided by the caller.
- Limit shared personal information, especially online. Scammers often research victims through social media, using birthdays, family names, addresses, and frequently visited locations to make schemes more convincing.
- Never share sensitive credentials through unsolicited calls or messages. If you receive a request for your Social Security number, bank PIN, or credit card details from an unknown number, immediately hang up or refrain from responding and call the organization directly using a verified number.
- Set up account alerts. Many banks and other services that have access to your payment information allow instant text or email alerts for withdrawals or new charges, making unauthorized activity easier to catch.
Q: What Are the Warning Signs of Senior Fraud?
A: Being able to quickly recognize the signs of senior fraud can prevent significant financial loss.
Watch for these warning signs:
- Calls or text messages from unknown numbers demanding immediate payment through gift cards or wire transfers or urging you to click on a link embedded in the message
- Sudden, unexplained withdrawals from bank accounts or unfamiliar charges on credit card statements
- New contacts, typically met online, who promptly ask for money or personal details and often request it be kept a secret from family members
If any of these occur, cut of contact with the believed scammer, contact your bank or financial institution immediately, and report the incident to either local or federal authorities, such as the Federal Trade Commission at ReportFraud.ftc.gov.
Q: How Can I Stay One Step Ahead of Fraud?
A: Even as senior fraud schemes continue to evolve and become more present, increased awareness still remains the strongest line of defense. Whether you’re a loved one of an older adult or an older adult yourself, it’s important to talk with your family members about common scams and their warning signs. Remember, the power of pausing and thinking before acting on urgent requests could make all the difference when it comes to stopping senior fraud from happening to you or someone you know.
How Silver Bridges Consulting can Help
As trusted advisors to older adults and their families, Silver Bridges Consulting connects clients with a strong network of Preferred Providers, including experienced elder law attorneys. When legal support is needed, we can help identify qualified professionals who offer guidance on important legal matters.
If you’re exploring senior living options for yourself or for a family member, our consultants are here to serve as your expert guide. We support individuals and families throughout the search process and help them find the ideal senior living community, including:
- Independent living
- Assisted living
- Memory care
Contact Silver Bridges Consulting Today
Sources:
https://www.fbi.gov/contact-us/field-offices/birmingham/news/fbi-recognizes-elder-abuse-awareness-day-and-warns-americans-of-elder-fraud
