Pretty much everyone worries about parents or grandparents falling for a scam. Financial scams targeting the elderly have grown in recent years, and the scammers keep getting sneakier. Today, scams aren’t just about losing money—today’s scams can destroy trust and independence, leaving your parents or grandparents feeling embarrassed, vulnerable, and isolated.
Reasons For Targeting Seniors
You need to realize that anyone can get scammed. The idea that older adults are “easy marks” is wrong.
But when it comes to scams targeting the elderly the numbers don’t lie—scammers love going after seniors, and there are several reasons why.
First of all, many retirees have a lifetime of savings in the bank. This makes them prime targets for fraudsters looking for a big payout.
Also, a lot of older adults are often less familiar with the latest technology and online schemes. When you add social isolation or cognitive decline to this mix, you have a perfect recipe that scammers love.
What Are The Most Common Financial Scams Targeting The Elderly?
It’s important to realize that scammers are very creative, but most frauds targeting seniors fall into a few buckets:
1. The Grandchild Scam:
This one’s classic and cruel. The scammer calls pretending to be a grandchild in trouble—maybe they’ve been in an accident or stranded in a foreign country. They beg for money and plead for secrecy. Too often they sound very convincing. In the stress of the moment, it’s easy to panic and wire cash before realizing that it was all fake.
2. Lottery and Sweepstakes Scams:
“Congratulations! You’ve won millions!” The catch is you have to pay taxes or fees upfront if you want to claim your prize. Real lotteries never ask for money before you get your winnings. Scammers count on your level of excitement and confusion to override your common sense.
3. Tech Support Scams:
This is a realy popular one. A pop-up on your screen warns that your computer is infected. A “Microsoft technician” calls with urgent instructions. They insist on remote access to your computer, and once they’re in, they can steal information, install ransomware, or demand payment for bogus repairs.
4. Romance Scams:
As you know, online dating has no age limit, and neither do the scammers. They create fake profiles, build relationships, then, they eventually ask for money—claiming an emergency, travel costs, or a sick family member.
5. Government Impersonation Scams:
You get a call from a very professional-sounding voice claiming to be from the IRS, Social Security, or Medicare. They will tell you that you owe money, or that your benefits are in danger. They even could threaten arrest or deportation if you don’t pay immediately. These scammers can be incredibly intimidating—and convincing.
How to Spot a Scam
Carefully study these red flags, and spotting a scam will get easier.
- Pressure to act fast. Scammers want to get you flustered and scared so you don’t have time to think.
- Requests for secrecy. If someone says not to tell anyone, especially family, that’s a huge warning sign.
- Unusual payment methods. If anyone is asking you for gift cards, wire transfers, or cryptocurrency it is almost certainly a scammer.
- Too-good-to-be-true offers. If it sounds unbelievable, it probably isn’t true.
Examples of Elderly Scams to Discuss With Your Loved ones
We’ve discussed in previous blogs how to identify and avoid common elder scams.
Here are a few notable scams from the past couple of years that we have seen and that you can discuss with your elderly loved ones to raise awareness and vigilance:
1. The “AI Voice” Scam
Scammers are now using AI to clone voices. In 2024 and 2025, we heard of multiple news stories about criminals using short audio clips (from social media, for example) to mimic your grandchild’s or relative’s voice. The scammer calls an elderly person, pretending to be the loved one in distress and urgently requests money. This new twist makes the traditional “grandparent scam” even more convincing.
2. COVID-19 and Medicare Scams
Even though the pandemic has faded, scammers still use it as a hook. Seniors have been targeted with fake offers for COVID tests, vaccines, or treatments. Some seniors have even received calls or emails about “Medicare updates” or refunds. Then the scammers ask for personal info or bank details.
3. Romance Scams on Facebook and Dating Sites
The FBI has reported a big uptick in romance scams, with losses in the billions in 2024.
Scammers will use fake Facebook or dating profiles, slowly build your trust, and then request money for supposed emergencies—medical bills, travel expenses, and even fake business deals.
4. Utility Company Impersonation
In some states (not sure about Ohio), scammers call seniors pretending to be from the electric or water company. Then they threaten to shut off your service unless payment is made immediately. The scammer often demands payment through prepaid debit cards or gift cards—these are always a red flag.
5. Cryptocurrency Investment Scams
When crypto went mainstream, so did crypto scams. The fraudsters promise big returns on Bitcoin or other cryptocurrency investments. This particular scam is targeted to seniors who may be less familiar with how these currencies work. Victims are often pressured into wiring money or sending crypto to fake “investment” accounts.
6. Tech Support Pop-ups and Calls
This old-timer is still going strong: it involves pop-up windows or unsolicited calls warning of a “virus” on your computer. Some scammers will even use official-looking Microsoft or Apple logos. They get access to the victim’s device or convince them to pay for unnecessary services.
Protecting Yourself and Loved Ones
Education is the best first line of defense. Discuss scams with all your older family members. Having this conversation can make a huge difference.
I’d like to add a few more tips:
- (a) Hang up on strange calls.
If someone calls claiming to be from a bank or government agency, hang up and call the official number that you have on file. - (b) Don’t click suspicious links.
Legitimate organizations won’t ask you to verify information or send money through weird emails or pop-ups. - (c) Never send money to strangers.
This includes someone you met online, someone claiming to be “tech support,” and even someone who sounds like family but you can’t verify their identity. - (d) Check in regularly.
Making a quick phone call or visit can help spot problems before they get out of hand.
What to Do If You’re A Victim of Scams Targeting The Elderly
If you or someone you know becomes the victim of any financial scams targeting the elderly, don’t be embarrassed and don’t stay quiet. Report it to these authorities—the local police, your bank, and the Federal Trade Commission (FTC). The sooner you act, the better chance you have of limiting the damage.
The Bottom Line
It’s a very sad reality that financial scams targeting the elderly are on the rise, but with awareness and conversation you can fight back .
Staying skeptical of unsolicited requests, guarding personal information, and talking openly about these risks will help keep you—and your loved ones—safe.
We, at Kabb Law, love our seniors, and are very concerned with their safety and making sure they don’t fall victim to financial scams targeting the elderly. Please share this information with your parents and grandparents, and call Rachel at Kabb Law 216-991-5222 for support.
