10 most common elder fraud scams and how to prevent them

Elderly fraud happens when scammers exploit older adults emotionally or financially, often blending emotional pressure with digital manipulation. These crimes are escalating at an alarming rate, and many victims never recover their losses.

According to Federal Trade Commission (FTC) data, Americans over 60 reported $2.46 billion in fraud losses in 2025. That figure reflects 400,000 voluntary reports, meaning the actual toll is likely higher, as many victims stay silent out of shame or fear of losing their independence.

Scammers use fear, urgency, and misplaced trust to pressure seniors into sharing personal information or sending money. Some pose as government officials, others as concerned family members, and many use technology to appear entirely legitimate.

I worked alongside the Cybernews research team to compile everything you need to know about this growing threat. This guide covers the most common types of senior fraud, how to spot warning signs early, practical steps to protect yourself or a loved one, and what to do if you or someone you know has already fallen victim.

10 most common types of elder fraud

Elder scams come in many forms, but most share the same playbook – creating panic or emotional urgency. Below are the most widespread examples and how to spot them before it’s too late.

1. Tech support scams

These scams often start with a convincing pop-up warning that looks like it’s from a legitimate company. It claims your computer has been infected with a virus or that your system needs urgent maintenance.

Once you call the number or click the link, a fake technician pressures you to grant remote access or pay for unnecessary “repairs.” In some cases, they install ransomware that locks the device until a payment is made.

Warning signs: Persistent pop-ups with fake error codes, callers who sound authoritative but refuse to verify their credentials, and requests for immediate payment or gift cards.

Prevention tip: Close suspicious pop-ups immediately and never provide remote access unless you initiated the support session through a verified company website.

2. Government or authority impersonation scams

These scams often use fear and authority to push victims into compliance. Criminals impersonate officials from agencies like the IRS, Medicare, or even local law enforcement, claiming there’s an urgent issue with your taxes, benefits, or identity. They may threaten arrest, license suspension, or asset seizure if a payment isn’t made immediately. Some even send convincing letters or emails with official-looking seals and signatures to appear authentic.

Warning signs: Aggressive tones, threats of legal action, or claims of a pending warrant. Scammers frequently request unusual payment methods, such as gift cards, cryptocurrency, or wire transfers, and might ask you to “confirm” personal information like your Social Security number or banking details.

Prevention tip: Real government agencies will never demand payment, threaten arrest, or ask for sensitive data via phone or email. Hang up, take a breath, and verify any claim by calling the agency directly using the official number from its website.

3. Grandparent scams

This cruel tactic preys on love, fear, and urgency to exploit family bonds. Scammers usually call or message pretending to be a grandchild or another close relative in distress. They might claim they’ve been arrested, hospitalized, or stranded abroad and urgently need money for bail, medical care, or travel.

To seem believable, they often know personal details pulled from social media, such as names of relatives or hometowns. Some even have a second person pretend to be a police officer or lawyer to add credibility.

Warning signs: Emotionally charged phone calls at odd hours, pleas that sound panicked or rushed, and instructions to keep the situation secret from parents or authorities. Fraudsters might also ask for unconventional payments such as prepaid cards or wire transfers.

Prevention tip: Pause before reacting emotionally. Hang up, and verify the story by calling your grandchild or another family member directly using a known number. Encourage regular family check-ins so everyone stays informed. Keeping communication open and questioning urgent money requests can stop this scam in its tracks.

4. Romance scams

Romance scams prey on trust, loneliness, and emotional vulnerability, making them especially harmful to seniors seeking companionship online. They typically begin on dating websites or social media, where scammers create fake profiles using stolen photos and carefully crafted backstories. Over time, they gain the victim’s confidence through daily communication, emotional sharing, and declarations of love or commitment.

Once the target feels secure, the scammer uses their identity for further instances of fraud or introduces a financial emergency – like a medical bill, travel issue, or family crisis – and asks for help.

Warning signs: A person who professes love too quickly, avoids in-person meetings or video calls, and makes frequent financial requests. Scammers often use excuses like working overseas or being in the military to explain their unavailability.

Prevention tip: Be skeptical of anyone you haven’t met face-to-face who requests money or personal details. Take things slowly, verify photos and background details through searches, and consult trusted relatives or friends before sending funds.

5. Lottery and prize scams

Lottery and prize scams target people’s excitement and curiosity. Victims receive messages, spoofed calls, or emails claiming they’ve won a lottery, sweepstake, or expensive prize, but must pay fees, taxes, or handling costs before receiving it. Once payment is made, the prize never arrives, and the scammer disappears.

Warning signs: Messages that claim you won a contest you never entered, requests for payment or banking details to release a prize, or communication from unofficial or free email domains

Prevention tip: Real lotteries and legitimate prize organizations never ask winners to pay before collecting their reward. Verify any claim directly on the official company’s website, and treat unexpected “wins” with skepticism. Staying cautious helps you keep your money and identity safe.

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6. Investment and financial scams

Investment and financial scams prey on the desire for security and stable income, especially among retirees looking to grow their savings. These schemes promise high returns with little to no risk and often appear legitimate, featuring professional-looking websites, fake testimonials, and even forged documents.

Scammers might offer fraudulent cryptocurrency projects, fake bonds, or retirement investments that sound too good to be true. Some pose as financial advisors, using industry jargon and time-sensitive pitches to pressure quick decisions.

Warning signs: Guaranteed profits, vague details about how the investment works, and aggressive sales tactics that discourage independent verification. Scammers may also request that you keep the offer secret or transfer funds quickly to “lock in” special returns.

Prevention tip: Research every investment opportunity thoroughly before committing any money. Verify advisors’ credentials through regulatory bodies like FINRA or the SEC, and discuss any offers with a trusted financial professional.

7. Caregiver or family exploitation

Sometimes, the threat comes from the very people older adults trust most. Caregivers, family members, or close friends with access to finances or legal documents may misuse that trust to impersonate seniors and steal their money, alter their wills, or open credit lines in their name.

In some cases, financial exploitation happens gradually, with the abuser convincing the senior to sign over financial control or isolating them from loved ones to hide suspicious activity.

Warning signs: Frequent or unexplained withdrawals, new joint bank accounts opened without clear reason, sudden changes in wills or beneficiaries, missing possessions, or a caregiver who discourages contact with other relatives.

Prevention tip: Establish clear financial boundaries and involve more than one trusted person in financial oversight. Regularly review statements and legal documents, and use shared monitoring tools and account alerts to detect early signs of misuse and protect assets from abuse.

8. Medicare and health insurance scams

Medicare and health insurance scams exploit seniors' dependence on healthcare coverage. Scammers pose as Medicare representatives, insurance agents, or healthcare providers to extract personal information like Medicare ID numbers, Social Security numbers, and banking details. They may offer free medical equipment, screenings, or prescription drugs in exchange for coverage information, then use that data to bill Medicare for services never rendered.

Victims often don't realize they've been targeted by medical identity theft until they receive unexpected medical bills or discover fraudulent claims on their Medicare summary.

Warning signs: Unsolicited calls or messages requesting your Medicare number, offers of free medical equipment in exchange for personal details, and pressure to act quickly before a supposed enrollment deadline expires

Prevention tip: Medicare will never call you out of the blue to ask for personal information. Guard your Medicare ID number as carefully as you would a credit card number, and review your Medicare Summary Notices regularly for unfamiliar charges. Report suspicious activity to 1-800-MEDICARE.

9. Phishing and smishing (text or email scams)

Phishing and smishing scams use deceptive emails and text messages to trick recipients into clicking malicious links or surrendering sensitive personal information. Seniors are frequent targets because scammers craft messages that appear to come from trusted sources, including banks, government agencies, delivery services, and even family members. Clicking a link can lead to a fake website designed to harvest login credentials, or silently install malware on the device.

Smishing, the text-based variant, has grown sharply in recent years as scammers exploit the higher open rates of SMS messages compared to email.

Warning signs: Messages with urgent language about account suspensions, package delivery failures, or tax penalties, unsolicited links, and sender addresses or numbers that don't match the official organization's contact information

Prevention tip: Never click links in unsolicited messages, even if they look legitimate. Go directly to the official website by typing the address into your browser, and contact the organization through a verified phone number to confirm whether the message is real.

10. AI deepfake and voice cloning scams

AI deepfake and voice cloning scams represent one of the fastest-growing threats to older adults, using artificial intelligence to replicate the voices or likenesses of trusted people.

In a typical attack, a scammer clones the voice of a grandchild or close relative using audio scraped from social media, then calls the victim pretending to be that person in crisis. The fabricated voice sounds convincingly real, and the emotional urgency of the scenario makes it difficult for victims to think critically in the moment. These scams can also use deepfake video to impersonate government officials, financial advisors, or law enforcement.

Warning signs: An unexpected call from a loved one claiming an emergency and requesting immediate wire transfers, gift cards, or cryptocurrency payments, especially if they ask you not to tell anyone else

Prevention tip: Establish a family code word that only trusted relatives know, and use it to verify anyone claiming to be a family member in distress. Hang up and call the person back on a number you already have saved before taking any action or sending money.

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How to recognize senior fraud

Recognizing the early warning signs of scams targeting older adults can make all the difference in preventing major losses. Here are the key signals to watch for:

• Urgency or secrecy. Scammers often insist on immediate decisions, claiming an emergency or demanding confidentiality.
• Unusual payment methods. Requests for gift cards, wire transfers, cryptocurrency, or prepaid debit cards are almost always fraudulent.
• Emotional manipulation. Fraudsters rely on fear, sympathy, or excitement to cloud judgment and gain trust.
• Requests for personal data. Any unexpected call, text, or email asking for Social Security numbers, PINs, or banking details should raise suspicion.
• Unsolicited contact from trusted institutions. Legitimate organizations like Medicare, the IRS, and your bank will never call out of the blue to request sensitive information or immediate payment.
• Too-good-to-be-true offers. Promises of prizes, high investment returns, or free medical equipment in exchange for personal details are reliable indicators of fraud.
• Voices or faces that feel slightly off. AI voice cloning and deepfake technology can convincingly mimic loved ones or authority figures. Unexpected calls involving urgent money requests, even from familiar voices, warrant extra verification.

Encourage open communication within families about these warning signs. Regular conversations with parents or grandparents about scams help build awareness and make it harder for criminals to take advantage of trust or fear.

How to protect yourself and loved ones

Staying safe online takes ongoing attention and a few key habits. Start by building awareness, maintaining good digital hygiene, and using reliable protection tools to reduce risks:

• Verify before responding. Always confirm a message or request by contacting the organization directly using verified contact details.
• Establish a family verification code. Agree on a private word or phrase with close relatives so you can confirm identities during suspicious calls, particularly those involving urgent requests for money.
• Treat unsolicited links with skepticism. Never click links in unexpected emails or text messages. Go directly to official websites by typing addresses into your browser instead.
• Review Medicare and insurance statements. Check your Medicare Summary Notices and insurance Explanations of Benefits for unfamiliar charges or services you never received.
• Monitor financial accounts. Review bank and credit card statements regularly, and set up alerts for any unusual or large transactions.
• Use strong passwords and two-factor authentication (2FA). Combine complex passwords with 2FA to make it much harder for criminals to gain access to your accounts.
• Update software regularly. Keep your devices and applications up to date so that security patches close vulnerabilities scammers might exploit.
• Enable digital protection. Tools like 1Password remember your login details so you never have to write passwords down or reuse the same one across multiple accounts. Antivirus software like Norton 360 works quietly in the background, blocking malware and phishing attempts before they can cause harm.

Digital security is a shared responsibility that starts with everyday awareness and the right tools to keep your information safe.

What to do if you fall victim to elder fraud

Digital security isn’t just for tech experts – it’s for everyone who wants to protect what matters most.

Even with precautions, elderly scams can still happen, and it’s crucial to respond quickly and calmly. Here’s what to do if you or someone close to you becomes a victim:

1. Stop all contact with the scammer immediately. Block their phone number, email address, or social media account to prevent further manipulation.
2. Report the fraud to the Federal Trade Commission (FTC) at reportfraud.ftc.gov and to the FBI’s Internet Crime Complaint Center (IC3.gov). Sharing detailed information helps authorities track and shut down scam networks.
3. Contact your bank or credit company right away to freeze or close compromised accounts. Ask them to issue new cards and review recent transactions for suspicious activity.
4. Change all passwords and strengthen your security. Use unique, complex credentials for every account, and enable two-factor authentication wherever possible.
5. Collect and document all evidence – including emails, messages, receipts, and phone logs – and keep them organized for investigators or insurers.
6. Alert credit bureaus to add a fraud alert or credit freeze, which helps prevent new accounts from being opened in your name.

Where to report elder fraud

If you or someone you know has been targeted, reporting the incident promptly gives authorities the best chance of tracking down the scammer and preventing others from becoming victims. Use the resources below to get help or file a report:

FBI Internet Crime Complaint Center	IC3.gov
FTC Report Fraud	reportfraud.ftc.gov
National Elder Fraud Hotline	1-833-FRAUD-11
Adult Protective Services	Varies by state
AARP Fraud Watch Helpline	1-877-908-3360

If financial accounts were compromised, contact your bank or credit card provider immediately to freeze or close affected accounts. Acting fast limits further losses and creates a paper trail that investigators can use.

Most importantly, remember that it’s not your fault. Scammers are trained manipulators who exploit trust, fear, and confusion. Reaching out for help quickly can minimize damage and speed recovery.

If your personal data has been stolen, Coveron’s recovery specialists guide victims through restoring their identity and finances, covering expenses up to $1 million. This professional assistance ensures you have support and peace of mind during what can be a difficult time.

Wrap up: why ongoing protection matters

The financial exploitation of seniors continues to evolve alongside technology, making constant vigilance and awareness essential for long-term protection. Staying informed about new scams, regularly checking financial statements, and maintaining good digital habits can go a long way toward preventing loss.

Consistent protection matters because scammers often resurface with new tactics months or even years later. Tools like Coveron provide ongoing credit monitoring, dark web scanning, and identity recovery services to ensure early detection and fast response if something goes wrong. Staying up-to-date on the identity theft protection guide also ensures you’re aware of warning signs before they happen.

No one can eliminate every risk, but preparation dramatically reduces potential harm. Maintaining awareness, sharing knowledge with loved ones, and using security tools create a strong, proactive shield against digital threats.

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