Top senior scams and how to avoid them

Dear Savvy Senior,

My adult kids keep warning me about scams, but it’s hard to know which calls and messages are dangerous. What scams are most commonly aimed at seniors right now?

Almost 80

Dear Almost,

Your kids’ concerns are well founded. Financial fraud is a massive — and rapidly growing — problem for older Americans. In 2024 alone, scams cost older adults an estimated $81.5 billion, according to the Federal Trade Commission. That staggering figure includes both reported losses and the many crimes that likely go unreported.

While many scams today target people of all ages, older adults are often singled out or suffer the greatest financial harm. From urgent phone calls and alarming emails to online romance schemes and bogus investment opportunities, scammers use high-pressure tactics, fear and emotional manipulation to convince seniors to hand over money or sensitive personal information.

Knowing the most common scams is the first line of defense. Here’s a list of scams seniors should watch for:

—Imposter and government scams: Fraudsters pretend to be from Social Security, Medicare, the IRS, the police, banks or utility companies. They claim there’s a problem requiring immediate payment or personal information and may threaten arrest or loss of benefits.

—Tech support scams: Calls, emails or pop-ups warn your computer has a virus. The scammer offers to “fix” it but instead steals money, personal data or access to your device.

—Grandparent or family emergency scams: Callers pose as a relative — often a grandchild — in distress and urgently request money. Some even use AI to mimic a loved one’s voice.

—Investment and cryptocurrency scams: Offers for “too good to be true” investments including crypto or high-yield retirement schemes often promise big returns but lead to large financial losses.

—Romance scams: Scammers build fake online relationships on social media, dating sites and other interactive platforms, then invent emergencies or investment opportunities to get money. Seniors have lost millions to these schemes.

—Medicare scams: Calls or texts claim to be from Medicare, asking you to verify your number, offering special plans or warning of fraud. Medicare will not contact you this way.

—Sweepstakes and lottery scams: You’re told you’ve won a prize but must pay fees or taxes first. Real lotteries never require payment.

—Charity scams: Scammers call or email, asking for donations to fake charities, often after disasters. Always verify before giving.

—Phishing and online fraud: Emails, texts and pop-ups that look like they’re from banks, Amazon or PayPal try to steal passwords, account numbers, or trick you into clicking harmful links.

—Employment scams: Seniors seeking part-time work or ways to supplement their retirement should watch out for fake job offers on LinkedIn, indeed and other online job sites. Scammers may promise easy income or work-from-home opportunities but ask for upfront fees, personal information or involve illegal tasks like package reshipping. Always verify employers and never pay to apply.

How to protect yourself

Awareness and caution are your best defenses. Slow down when a call, email or text pressures you to act immediately. That sense of urgency is a red flag. Hang up, don’t click suspicious links, and verify any request by calling the organization directly using a number you look up yourself or by checking with a trusted family member.

Never send money using gift cards, wire transfers or cryptocurrency. Legitimate organizations will not ask for payment this way. Stay informed through trusted resources like the AARP Fraud Watch Network (www.aarp.org/fraudwatchnetwork), the National Cybersecurity Center (www.nationalcybersecuritycenter.org) and the Federal Trade Commission (www.consumer.ftc.gov).

Protect your accounts by setting up bank alerts, regularly checking your credit reports and using strong, unique passwords. Some seniors also find it helpful to have a trusted family member or financial ally review unusual account activity. Report suspicious calls, messages or offers at www.reportfraud.ftc.gov.

Being informed, cautious and deliberate can greatly reduce your risk of fraud, giving you and your family peace of mind.

Send your questions or comments to questions@savvysenior.org or to Savvy Senior, P.O. Box 5443, Norman, OK 73070.