Top Internet Scams Targeting the Elderly: Protect Your Loved Ones Today

Internet scams targeting older adults are a growing concern in the United States. In 2023, nearly 101,000 victims aged 60 and over reported fraud to the FBI’s Internet Crime Complaint Center. In fact, investment scams alone accounted for more than $1.2 billion in losses to elderly victims last year​.

Despite these alarming statistics, many cases go unreported—older people are often left alone with their problems, feeling embarrassed and afraid that they will not be believed or taken seriously. 

In this article, we'll cover the most common internet scams and how you can help your loved one avoid getting hooked by these sophisticated schemes.

Why Are Older People Susceptible to Online Scams?

Most elderly people easily come into contact with strangers. Fraudsters, on the other hand, are excellent psychologists and can easily and quickly win over seniors using their eloquence and acting skills. The success of scammers is also due to the following reasons:

• Lack of Familiarity with Technology. Many older adults did not grow up with the internet and may not be as comfortable or familiar with online activities as younger generations. And unscrupulous scammers take full advantage of this circumstance.
• Cognitive Decline. As people age, they may experience declines in cognitive abilities, such as memory, problem-solving skills, and the ability to detect deceit, among other things.
• Loneliness and Isolation. Lonely adults tend to be deceived by scammers who shower them with the attention and affection that older people so lack.
• Trusting Nature. Older generations might have a more trusting nature and are less likely to suspect that others may have malicious intentions or may want to exploit them through fraud.
• Financial Stability. Scammers often target older adults because they are more likely to have accumulated savings, pensions, and other assets that could be a sweet spot for con artists​.
• Lack of Awareness. There might be a lack of awareness among older adults about the types of online scams and how prevalent they are. They may not know how to detect and evade such threats.

All these, unfortunately, contribute to the fact that the problem of fraud against the elderly will never lose its relevance.

9 Types of Online Scams Targeting Seniors

Here are some common scams that target the elderly:

Romance Scams

• Scammers often find their victims on social media or dating sites and proceed to communicate with them by phone or, most commonly, via the internet. They build trust over time, sometimes months, before asking for money for various reasons. This may be a personal emergency or a need for travel funds to visit the victim. 
• These scams are devastating emotionally and financially. Victims might be too embarrassed to report the scam, which allows perpetrators to continue their fraudulent activities with no worry about the consequences.

Grandparent Scams

• Another name for grandparent scams is emergency scams. In this type, a criminal contacts their victim either by phone, email, or social media and pretends to be a relative in need, usually overseas. They typically pose as a grandchild and ask for money for bail, medical expenses, or travel. The urgency and emotional appeal make elderly victims more susceptible, often wiring money without verifying the caller's identity. 
• Exploiting the victim's love and concern for their family makes this scam particularly cruel and effective.

Lottery Scams

• The scammer tells their victim they've won the lottery or sweepstakes, but then claims the lucky winner must pay fees or taxes to receive the money. Scammers might even send a fake check to make the situation seem more real. Once the victim deposits the check and sends the required fees, they discover the check is fake. 
• The money sent is permanently lost. Besides, the victim may face additional bank fees and penalties, exacerbating their financial loss.

Government Impersonation Scams

• Scammers call seniors and demand personal information, like their social security number, claiming there's a false charge of tax fraud or another crime. They often use threats of arrest or legal action to scare the victim into doing what they want. 
• These scams are highly successful since they exploit the fear and respect for government authority. Victims may provide sensitive information that can lead to identity theft and serious financial abuse.

Charity Scams

• Scammers use a name almost identical to that of a real charity and may even reference real events to appear credible. They prey on the goodwill of seniors who want to help those in need, especially during disasters or crises. Victims donate money for a good cause, yet the donated money goes straight into the pockets of scammers. 
• These scams not only result in financial loss but also undermine trust in legitimate charitable organizations.

Phishing

• A fake email or text message sent by cybercriminals looks like it comes from a trusted person or organization. It usually includes a link to a fake login page or attachment. When the victim enters their login information, the scammer gains access to their accounts. 
• Phishing scams can lead to identity theft, financial loss, and unauthorized access to sensitive information. And seniors—who may not be as tech-savvy—fall prey to these advanced scams.

Medical Scams

• Seniors are an easy target for medical scams because scammers don't need to do extensive research on their insurance providers. Fraudulent schemes are carried out over the phone or even at the door. 
• Victims may pay for services or equipment that they do not need or that do not exist, or worse, provide personal information that can be used for identity theft and further exploitation.

Investment Scams

• In this type of scam, seniors are lured in by bogus investment opportunities or annuities. Fraudsters often promise high returns with minimal risks, appealing to retirees looking to secure their financial future. Once the victim invests, the scammer disappears with the money. 
• These scams can be devastating, particularly for seniors who rely on their savings and investments for their livelihood.

Online Shopping Scams

• Scammers create fake online stores or listings involving everything from counterfeit goods to nonexistent products. Most older adults are less familiar with online shopping, which makes them especially at risk. 

How to Protect Older People from Scams

• You'll be able to protect your elderly loved ones from these con artists through education, vigilance, and taking some practical steps. Here are the key strategies:

1. Educate Seniors About Common Scams

• Inform your elderly loved ones about the common types of scams we discussed above. Knowing what to look out for can help them recognize and avoid scams.

2. Encourage Skepticism and Verification

• Encourage them to be skeptical of any unsolicited calls, emails, and messages. Advise them to verify the identity of anyone contacting them with urgent requests for money or personal information. 
• It’s best to contact the organization through a known contact or one listed on the official website. A people search site can also be helpful in this regard. If someone claims to be a grandchild in trouble, suggest calling another family member to verify the situation.

3. Monitor Financial Activity

• Regularly review their bank and credit card statements for unusual activity. Help them set up alerts for large transactions or withdrawals. Consider using a credit monitoring service to keep track of any changes to their credit report.

4. Limit Sharing of Personal Information

• Advise them not to share personal information online and over the phone. Personal information should only be given out when absolutely necessary and only to trusted entities. This includes SSNs, bank account details, and other sensitive information.

5. Secure Their Devices

• Make sure their devices are protected with strong, unique passwords and up-to-date security software. Educate them on how to spot phishing emails. They should know that clicking on suspicious links or downloading attachments from unknown sources can result in their devices becoming infected with malware or their personal data being compromised.

6. Register for the National Do Not Call Registry

• Register their phone number with the National Do Not Call Registry to reduce the number of telemarketing calls they receive. This will also cut down on the number of scam calls they may be targeted with.

7. Be Involved and Communicative

• Keep interested in their financial and social activities. Regularly check in with them about new friends, online connections, or any weird financial transactions that appear out of the ordinary. Have an open line of communication so they feel comfortable discussing any suspicious encounters.

8. Use Fraud Prevention Tools

• Employ fraud prevention tools such as call blockers to screen and block unwanted calls. Many phone companies offer these services at no charge or for a nominal fee.

9. Report Suspected Scams

• Any suspected scam should be reported to the relevant authorities. If your senior loved one falls victim to a scam, report it to the Federal Trade Commission (FTC), local law enforcement, or the financial institution involved. Prompt reporting can help prevent further losses and assist in catching the scammers.

10. Stay Updated on New Scams

• Keep updated on new scam tactics. Scammers continuously evolve their methods, so staying informed about new scam techniques can provide a better defense. Useful resources: Consumer Information at consumer.ftc.gov and Fraud Watch Network at aarp.org.
• By taking these steps, you can help safeguard your elderly loved ones from falling victim to scams and ensure they have the knowledge and tools they need to protect themselves.