Stopping Scammers in Their Tracks: A Guide to Elder Fraud Prevention

Elder fraud is a growing and costly threat that targets older adults with deceptive schemes designed to steal money, identity data, and even one’s sense of security. Every year, millions of seniors fall victim to fraud — losing billions of dollars and enduring deep emotional impact — often at the hands of criminals posing as trusted voices or opportunities.

What makes older adults particularly attractive targets? Many seniors are perceived as polite, financially stable, and trusting — qualities scammers actively exploit. Isolation, life transitions (such as retirement or the loss of a spouse), and unfamiliarity with digital technologies can increase their vulnerability.

Common scams include:

1. Romance and confidence fraud, where scammers build emotional rapport before asking for money.
2. Tech support scams, in which fraudsters claim there’s an urgent issue with a device and seek remote access or payment.
3. Grandparent scams, involving impersonation of a relative in distress.
4. Government impersonation, including fake IRS or Medicare calls that threaten arrests or penalties.
5. Sweepstakes/lottery and bogus investment schemes, where “winnings” or “once in a lifetime” deals require an upfront fee.

Recognizing the red flags is one of the strongest defenses. Scammers create artificial urgency, pressure targets to act immediately, or insist on secrecy — all designed to short-circuit careful thinking. If an offer sounds too good to be true, it likely is.

Practical steps families can take to protect loved ones include:

1. Encourage open communication. Regular conversations about suspicious calls, emails, or offers can break through isolation and help older adults feel more comfortable discussing concerns before acting.
2. Educate and stay informed. Share information about common schemes and scammer tactics with your loved ones. Awareness alone can dramatically reduce the chances of falling victim.
3. Verify identities independently. If someone claims to be from a government agency, financial institution, or a family member in crisis, pause and verify using trusted contact information — not the numbers provided in the suspicious message.
4. Protect personal and financial information. Never share Social Security numbers, account credentials, passwords, or other sensitive data over email or phone unless you are absolutely certain of the recipient’s identity.
5. Use technology wisely. Tools such as credit freezes, two-factor authentication, and mobile banking alerts can help detect and prevent unauthorized activity.
6. Opt out of unsolicited marketing. Registering phone numbers on national Do Not Call lists and limiting exposure to unknown emails or mail reduces opportunities for scams to reach your loved one.
7. Report and act quickly. If you suspect fraud — regardless of financial loss — report it to appropriate authorities, such as the FBI’s Internet Crime Complaint Center (IC3), the Federal Trade Commission (FTC), the National Elder Fraud Hotline at 1-833-FRAUD-11, or the Elder Abuse Task Force at 800-24-ABUSE or visit them at mi.gov/elderabuse. For more resources please reference this brochure.
8. Prompt reporting can help protect others and begin recovery steps.

Beyond prevention, it’s important to support seniors emotionally if they are targeted. Many victims feel shame or embarrassment, which can inhibit reporting and recovery. A supportive, nonjudgmental environment encourages open dialogue and reinforces protective behaviors.

Protecting the financial well-being of a loved one takes vigilance, education, and empathy. With the right tools and awareness, families can drastically reduce the risk of elder fraud — safeguarding not just assets, but dignity and peace of mind.