Scams Targeting the Elderly: How to Spot Them and Protect a Parent
Federal agencies list the same warning signs: pressure, a trusted-sounding sender, and an unusual way to pay. Knowing them protects a parent better than memorising every scam.
By naveen · Updated · How we research our guides
What to know
- Scams targeting older adults share the warning signs the CFPB lists: pressure to act quickly, someone pretending to be a person or organization you trust, and "unusual payment methods, like gift cards, wire transfer, cryptocurrency, or payment apps."
- The CFPB says real government agencies and financial institutions "do not tell you to withdraw cash, buy gift cards, or use cryptocurrency to send money."
- In 2025, people 60 and over reported $7.748 billion in losses to the FBI's Internet Crime Complaint Center (IC3 2025 Annual Report).
- If a scam has happened, contact the bank or payment company right away, then report it at ReportFraud.ftc.gov or ic3.gov.
- Retirement Checklist puts scam protection in order with the power of attorney and other documents.
Scams targeting the elderly share a recognizable shape: urgency, a trusted-sounding sender, and a request to pay in an unusual way, such as gift cards, wire transfers or cryptocurrency. Those are the red flags the Consumer Financial Protection Bureau (CFPB) lists, and knowing them helps because, as the CFPB puts it, "Scams are constantly changing."
Why are older adults targeted?
The National Institute on Aging (NIA) gives one reason directly: "One reason that scammers target older adults is that they are less likely to report suspected fraud." The losses are large. In 2025, people 60 and over filed 201,266 complaints with the FBI's Internet Crime Complaint Center (IC3), with an average loss of $38,500 (IC3 2025 Annual Report).
Memory changes can add risk. NIA notes that money problems "may be one of the first noticeable signs" of dementia, and that "People with dementia may be targets of financial abuse or fraud." None of that is a failing. NIA's message to anyone who has been scammed is that "it can happen to anyone."
What are the most common scams?
Among complaints from people 60 and over in 2025, IC3's largest categories were phishing and spoofing, tech and customer support fraud, and investment fraud, and investment fraud caused the largest losses (IC3 2025 Annual Report). These are the patterns federal agencies describe:
| Scam | How it works |
|---|---|
| Government impersonation | Someone poses as a government official "to collect or extort money" (IC3); NIA's example is a fake Medicare representative asking for account information |
| Tech or customer support | A caller claims your parent's computer has a problem and asks to be paid to fix it (NIA) |
| Grandparent or family emergency | A caller claims to be a grandchild or relative who urgently needs money; the CFPB warns that AI can clone a relative's voice |
| Romance | The CFPB describes it as "when someone new tricks you into falling in love with them to get you to send them money" |
| Prize, lottery or sweepstakes | A message says your parent won a prize, then asks for fees or taxes to collect it (CFPB) |
| Investment | IC3 says these scams "usually offer those targeted large returns with minimal risk" |
| Phishing | Emails, texts or calls that appear to come from a real company and ask for personal, financial or login details (IC3) |
The CFPB is clear on one rule: real government agencies and financial institutions "do not tell you to withdraw cash, buy gift cards, or use cryptocurrency to send money." It also notes that scammers "often ask for payment in ways that are hard to trace or recover."
What warning signs should you notice?
The CFPB's signs that someone may be a victim of financial exploitation include:
- Money missing from an account, or "Withdrawing money from accounts without explanation"
- New or unusual gifts, including to a new "best friend"
- Someone who keeps your parent from visitors or phone calls, or seems to be controlling their decisions
- "Changing beneficiaries of a will, life insurance policy, or retirement funds"
- Fear of a relative, caregiver or friend
Two more from federal guidance: a caller who "insists on secrecy" (CFPB), and a parent who seems "afraid or worried when they talk about money" (NIA).
What should you do if it has already happened?
Contact the bank or payment company right away. The CFPB advises telling them "there may have been an unauthorized transaction," and the FBI says that asking for a wire recall "as quickly as possible may reduce or eliminate your financial losses."
- Change any passwords that may have been exposed.
- Report it. The CFPB lists the FTC (ReportFraud.ftc.gov), the FBI's IC3 (ic3.gov), your state attorney general and local police.
- Contact Adult Protective Services if an older adult is being exploited. ACL says that "In all states, APS is charged with receiving and responding to reports of adult maltreatment."
- Be gentle with your parent. NIA notes that "Many older adults are too ashamed to report mistreatment," and tells victims, "Don't be ashamed."
What if a scammer keeps contacting your parent?
End the contact rather than engaging. NIA's advice is: "If you suspect it's a scam, end the call and talk to someone you trust."
It can help to block the numbers, ask the phone carrier what call-blocking or filtering it offers, and let unknown numbers go to voicemail. NIA suggests the National Do Not Call Registry "To lower the risk of telemarketing schemes," and the CFPB recommends it too. If the contact continues or turns threatening, report it, and follow the CFPB's advice to "Keep all messages as evidence to give to law enforcement."
How can you help with accounts without taking over?
Aim for access in an emergency, not control. The CFPB says that "banks and credit unions may allow you to choose one or more trusted contacts," such as an adult child, whom the bank can reach "for extra help in emergency situations." Brokerage firms ask for a trusted contact person too, and Investor.gov notes that naming one "does not give that person any authority to act on your behalf."
A single secure record of accounts and key contacts helps, and some online services let the account holder name, in the account's own settings, someone to manage it after death. Formal authority over finances comes from a durable power of attorney, which the CFPB describes as "a legal document that allows someone else to act on your behalf," not from knowing a password.
What questions are worth asking?
- Does your parent know the gift-card and wire-transfer warning sign?
- Would they tell you if something felt wrong, and who would they tell?
- Is there a record of their accounts, kept somewhere secure?
- Have they named a legacy contact on the accounts that offer one?
- Has their bank or brokerage asked for a trusted contact?
Frequently asked questions
What scams target elderly parents most often?
In IC3's 2025 data for people 60 and over, the most-reported categories were phishing and spoofing, tech and customer support fraud, and investment fraud. NIA also names government impersonators, prize and lottery scams and the grandparent scam. The CFPB says scammers "often ask for payment in ways that are hard to trace or recover."
Why are older adults targeted by scammers?
NIA gives one reason: older adults "are less likely to report suspected fraud." The losses are large, with people 60 and over reporting $7.748 billion lost to the FBI's IC3 in 2025 (IC3). People with dementia may also be targets, and NIA stresses that being scammed "can happen to anyone."
What should we do if my parent has been scammed?
Contact the bank or payment company right away and tell them the transaction may be unauthorized. Then report it: to the FTC at ReportFraud.ftc.gov or the FBI at ic3.gov, your state attorney general or local police, and Adult Protective Services if an older adult is being exploited. The FBI says acting quickly can reduce losses.
What can you do if a scammer keeps contacting an elderly parent?
End the call rather than engaging; NIA's advice is to end it and talk to someone you trust. Block the numbers, ask the phone carrier about call-blocking or filtering, and let unknown calls go to voicemail. NIA and the CFPB both suggest the National Do Not Call Registry. Keep messages as evidence if contact turns threatening.
How do I get access to my parent's online accounts?
With their permission and, ideally, their participation. A record of accounts kept somewhere secure helps, and some online services let the account holder name someone to manage the account after death. For money, a bank's trusted contact or a durable power of attorney gives a recognized route to help, with your parent's agreement.
What is a digital legacy contact?
A person your parent names, inside an online service's own settings, to access or manage the account after death, where the service offers one. Colorado's version of the uniform digital-assets law, for example, says a direction given this way "overrides a contrary direction by the user in a will, trust, power of attorney, or other record."
Getting started
Every family's order is different. The plan this site builds asks four questions, including which state your parents live in, and puts the handful of steps that matter most for your family in order. It's free and takes about 90 seconds.
Related guides
Sources
- Consumer Financial Protection Bureau, What are some classic warning signs of possible fraud and scams?: The red flags, from pressure to unusual payment methods.
- Consumer Financial Protection Bureau, What are some common types of fraud and scams?: Grandparent, impostor, romance, prize and payment-app scams, and what to do.
- Consumer Financial Protection Bureau, Who do I contact for help with a scam or fraud?: Where to report, and what real agencies never ask for.
- Consumer Financial Protection Bureau, How can I tell if a family member is a victim of financial exploitation?: Warning signs of financial exploitation.
- Consumer Financial Protection Bureau, Choosing a trusted contact person: How a bank or credit union trusted contact works.
- FBI Internet Crime Complaint Center, 2025 IC3 Annual Report: Complaints and losses reported by people 60 and over, with crime-type definitions.
- FBI Internet Crime Complaint Center, Elder Fraud: What to do if a parent is targeted, including wire recalls.
- National Institute on Aging, Beware of Scams Targeting Older Adults: Common scams aimed at older adults and how to respond.
- National Institute on Aging, Managing Money Problems for People With Dementia: Why dementia raises the risk, and the Do Not Call Registry.
- Investor.gov, Why You Should Consider Adding a Trusted Contact to Your Account: What a brokerage trusted contact can and can't do.
- Administration for Community Living, Supporting Adult Protective Services: What Adult Protective Services does.
- Colorado Revised Statutes, Title 15 (C.R.S. 15-1-1504): How an account's own online tool interacts with a will or power of attorney, in one state's version of the uniform law.
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