According to the FBI’s
2025 Internet Crime Report, adults over the age of 60 report the highest total losses by fraud of any age group. But why is this?
“Scammers often target seniors because they see them as a lower‑risk, higher‑reward group,” says ACFE Training Director, Jason Zirkle, CFE. “Many older adults have savings, retirement accounts or good credit, which makes them attractive targets.” Zirkle adds how the elderly population is trusting and may be dealing with loneliness, health issues or the loss of loved ones, which may make them more emotionally vulnerable.
National Senior Fraud Awareness Day, observed each year on May 15, puts a spotlight on elderly Americans’ financial safety. This day marks an important reminder to support this vulnerable population from the ever-present threat of fraud.
In this article, we share some safety tips for seniors to keep their finances, identities and personal information safe from fraud. Be sure to share this article with any seniors in your life so that they have a fraud knowledge base of scams that can potentially impact them.
Common Schemes Affecting Seniors
“Most scams targeting seniors aren’t new,” says Zirkle. “They’re just updated versions of the same schemes that have worked for years.”
Impersonation
Impersonation scams are among the most common scams impacting seniors, according to Zirkle. “Scammers could pretend to be from a bank, the Social Security Administration, the Internal Revenue Service (IRS), Medicare, a utility company or even a family member in trouble,” he says.
Despite the varying presentations of these scams, the goal remains the same: Scammers want to create fear and urgency to pressure their victims to send money or share personal information.
“Spoofed phone numbers, fake emails and realistic looking websites can be hard for anyone to spot,” says Zirkle. “But they can be especially confusing for people who didn’t grow up with this technology.”
Tech Support Scams
With tech-support scams, fraudsters falsely inform victims that they have a virus or security issue on one of their devices. Under the false promise of providing help, the fraudster convinces the victim to give them remote access to their device. After gaining access, the fraudster can delete files or lock the screen, and they demand victims to pay a fixed amount to “resolve” the problem.
Romance Scams
Unfortunately, many seniors are dealing with loneliness, and fraudsters know and prey on this vulnerability. Romance scams take a longer time to develop, as they involve a fraudster building a relationship and gaining trust before asking for money. They may claim an emergency has happened, or they have an investment opportunity, leaning on the relationship they established to drive their victims into helping who they believe to be a trustworthy person.
Repeat Targeting
People who have already experienced losses to fraud are often contacted again with the fraudster claiming they can help recover lost funds.
“Many scam victims never get their money back, especially when the payment was made voluntarily through wire transfers or payment apps,” says Zirkle. “That’s why prevention is so critical.”
A Simple Checklist to Prevent All Scams
Fraud schemes are constantly evolving, with new tactics and tools giving fraudsters greater opportunity to perpetuate schemes. That’s why being aware of a few common warning signs and always keeping a fraud fighter mindset is so important.
- Recognize the red flags: “Scammers almost always contact the victim first, create a sense of urgency and ask for money or personal information,” says Zirkle. “That combination should immediately raise red flags.”
- Trust your gut and verify: “If something feels off, the safest step is to stop and verify. That means hanging up the phone, not clicking links in emails or texts, and contacting the organization or person directly using a trusted phone number. Caller ID, email addresses, and official‑looking websites can all be faked.”
“It’s also important to remember that legitimate banks, government agencies and utility companies do not demand immediate payment, gift cards, cryptocurrency or secrecy,” Zirkle adds. “When pressure enters the conversation, it’s time to step away.”
A Guide for Family Members and Caretakers
Taking an active role in the lives of elderly loved ones can make a huge impact in preventing fraud or stopping it from progressing to something more detrimental.
Here’s how family members and caregivers can help:
- Talk about it: “Regular, pressure‑free conversations about scams can make a big difference,” says Zirkle. “When seniors know scams are common and that anyone can fall for one, they’re more likely to speak up if something doesn’t feel right.”
- Look out for any behavior changes: “Sudden secrecy, unusual withdrawals, new online friends or fear about finances can all be warning signs. In some cases, scammers actively try to isolate victims by warning them not to talk to family.”
- Set up preventative measures: Zirkle recommends setting up fraud alerts for accounts, reviewing bank statements together and encouraging loved ones to let unknown calls go to voicemail. “Many scammers won’t leave a message,” says Zirkle. “That alone can stop a large number of attempts.”
Resources for Victims
Despite prevention efforts, scams can happen, and they can leave a sizable impact on victims since recovery isn’t always possible. Nevertheless, Zirkle reminds anyone who may be exposed to fraud that reporting the crime is very important.
Here’s what you can do immediately after fraud occurs:
- Contact your bank to report the incident.
- File a local police report, especially if identity theft is involved.
- File a report with the Federal Trade Commission.
“Scammers know that many seniors hesitate to report fraud because they feel embarrassed or don’t think anything can be done,” says Zirkle. “Reporting scams and talking openly about them helps protect not just one person, but others as well.”
There isn’t always a clear path to recovery but knowing where to start can help victims feel less overwhelmed and isolated.
Here are a few organizations elderly fraud victims can use for support:
Identity Theft and Financial Recovery Resources
Guidance and Support for Elders:
