Seniors, Watch Out! Top 5 Scams That May Target YOU IN 2026

In an ideal world, you could get a call from someone and trust that it was genuine. Sadly, we don’t live in an ideal world. Fraudsters will pose as just about anyone to try and scam people out of their money, bank account numbers, or other personal information. Unfortunately, studies show that older adults may be even more vulnerable to fraud. But here’s the good news. You can arm yourself with knowledge and protect yourself from scammers! Here are the top 5 scams targeting older adults.

What Is Elder Fraud?

Defined in the simplest terms, elder fraud is when somebody targets an older adult with the intent to steal or deceive them out of their money or other property. According to Nolo, scammers often prey upon elderly individuals who are:

• Isolated or lonely
• Physically or mentally disabled
• Unfamiliar with handling their own finances
• Recently widowed

While we often think of scammers as a random stranger, they come in a variety of forms, including:

• Telemarketers
• Friends
• Family members
• Caregivers
• Accountants
• Lawyers
• Doctors

Common Financial Scams Targeting Seniors

According to the FBI’s Internet Crime Complaint Center, elder fraud cost Americans aged 60 and older more than $966 million in 2020. Unfortunately, these scams impact more than an individual’s bank account. They can have serious ramifications on an older adult’s mental health and may cause grief, anxiety, and even accelerate cognitive decline! Fortunately, there are steps you can take to prevent elder fraud! The first line of defense is to be aware of all the scams out there. Keep reading to find out more!

1. Sweepstakes and lottery scams

We’ve all heard of Publisher’s Clearing House, right? Maybe you’ve signed up for the sweepstakes in the past. While it would be nice to receive a call stating that you won a million dollars or more, it could also be a nightmare…if the caller is a scam artist. Here are a few signs you may be dealing with a fraudster:

• They don’t address you by name on the call.
• They tell you to go to your local Walgreens, Walmart, or other store to pick up a gift card.
• They ask you to send money via Venmo, PayPal, wire, or cashier’s check.
• They advise you not to tell anyone that you’ve won.

According to the Federal Trade Commission, here are three signs you might be the victim of a prize scam:

1. You have to pay to get your prize. If you won a sweepstakes and earned a huge prize, you wouldn’t have to pay for it. The FTC warns that if someone tells you that you need to pay “shipping and handling” or “processing fees”, you’re probably the victim of a scam. They also advise that you do NOT send or wire any money. Odds are, you won’t get it back.
2. They say paying increases your odds of winning. As the FTC notes on their website, real sweepstakes are free. So, if someone informs you that you have to “pay to play”, don’t take the bait!
3. You have to give your financial information. Under no circumstances should you ever give away your bank account number or credit card information.

If you think that you’re the victim of a sweepstakes or lottery scam, make sure you report it to the FTC at ReportFraud.ftc.gov!

2. Robocalls

Have you ever gotten a strange call from an unknown number? Maybe you answered the phone, only to be hit with an earful of silence or static. Or maybe a voice asked if you could hear them and then hung up when you responded. Unfortunately, this means you may have been a victim of the dreaded robocall scam. Scammers may be recording your voice to authorize unwanted charges or payments. Some signs you might be on the receiving end of a robocall are:

• They inform you that your car warranty has expired.
• They claim to be technical support.
• They ask you to take a survey that turns out to be fake.
• They claim to be from the IRS, Social Security Administration, or other government agency.

If you find yourself on the receiving end of a robocall, there are several steps you should take! According to the FTC, you should:

1. Hang up! Staying on the line and pressing numbers or speaking will only open the floodgates for even more robocalls in the future. So hang up sooner rather than later.
2. Block. Download a call-blocking app or use your phone’s built-in blocking system to prevent future unwanted calls.
3. Report it to the FTC at DoNotCall.gov. Did you know that FTC analyzes report data and trends to identify illegal callers based on calling patterns? If you receive a robocall, make sure to let the FTC know about it!

3. Phishing scams

We all receive dozens, if not hundreds, of emails every day. Sometimes, the emails might appear to be from a trustworthy institution, like a bank or a credit card company. Instead, it’s a trap: a digital Trojan horse. Once your personal information has made its way into scammers’ hands, then they can use it to authorize unwanted charges and more. However, you can recognize phishing scams! Here are a few signs the email or text you received isn’t genuine:

• They want you to click a link to resolve the issue.
• They ask you to confirm your personal or financial information.
• They claim they’ve noticed suspicious activity on your account.
• They ask you to update your credit card information.
• They offer you a coupon for free stuff.
• They ask you to make a payment by following a link.
• They send you a mysterious invoice you don’t recognize.

While your email’s spam filters might be able to catch some phishing emails, some might swim right into your inbox and tempt you to click them. Fortunately, there are ways you can protect yourself!

1. Download anti-virus software. Anti-virus software might be able to protect you and your information from phishing scams. Check out this list for further ideas on which software might be the right fit for you.
2. Make sure your phone is set to automatic updates. Your phone can also be a powerful tool in the fight against phishing scams! Make sure automatic updates are turned on so it can protect you!
3.  Protect your accounts by using multi-factor authentication. Multi-factor Authentication (MFA) is an authentication method that requires the user to provide two or more verification factors. You can download apps like the Microsoft Authenticator from the app store and gain both extra protection and extra peace of mind!
4. Back up your data regularly. Make sure you regularly update your data in the cloud or an external hard drive to preserve your data!

4. Government imposter scams

Sadly, many fraudsters may impersonate government officials, as well. They may inform you that you haven’t paid your taxes or threaten to discontinue your Medicare benefits. And while this type of call can be scary, don’t let it rattle you. Instead, take a deep breath and look for these signs that the call is not genuine:

• They may call from a Washington D.C. zip code to make the call look more “official.”
• They try and get you to share personal information: bank account number, Social Security Number, etc.
• They may ask you to wire money, send cash, or get a prepaid debit card.
• They’ll claim to be from Medicare, FTC, the Social Security Administration, or make up a fake agency name, like the National Sweepstakes Bureau.

So, how can you protect yourself from these scams? The FTC notes that real government agencies will never call, email, text, or message you on social media to ask for money or personal information. They also add that a real government agency, such as the Social Security Administration, would never threaten you or say they’re going to suspend your Social Security Number. Our very own Toni King also has excellent advice on what to do if you think you may be the victim of a Medicare scam!

5. Family scams

Many scammers will strike right at the heart: your family. A common scam is known as the “grandparent scam”, wherein the fraudster impersonates your grandchild and proceeds to wheedle information out of you. Alternatively, they may pretend to be an authority figure or someone else connected to their grandchild and call you on their behalf. Whatever the case, a few signs that you may be a victim of the dreaded grandparent scam are:

• They ask you not to tell anyone about the call or their request.
• They ask you to pay a jail bond, overdue car payment, etc.
• They ask you to transfer a large sum of money to their account.

While scary to think that a scammer could impersonate someone in your family, you can arm yourself with knowledge that will help you make an informed decision if you ever find yourself on the receiving end of one of these scams! Here are a few helpful tips:

1. Verify the caller’s identity. Ask personal questions that only your real family member or friend would know. Don’t share any personal information until you verify their identity.
2. Don’t overshare on social media. Most of us are proud of our families and want to hop on social media to share updates with our family and friends. However, if your posts on social media are set to public, then you might be inadvertently handing scammers information that they can use against you. To prevent sensitive information from falling into their hands, limit who can see your posts. Set the privacy to “friends only” and don’t be so eager to share every little detail with your friends. When it comes to social media, less is truly more!
3. Don’t send or wire money. These types of scams prey on your love for your family. Don’t let your heart overrule your brain. Instead, take a breath, verify the information, and don’t send or wire any money to anyone.

Other Scams to Watch Out For

Unfortunately, the scams aren’t limited to those five, especially in our technological age. Other common scams that you need to look out for include:

• Cryptocurrency scams
  • Fake websites
  • Phishing scams
  • “Pump and dump” schemes
  • Fake celebrity endorsements
  • Cloud mining scams
• Romance scams
  • Love bombing
  • Catfishing
  • Online dating fraud
• Online purchase scams
  • Fake websites
  • Fake products
• Tech support scams
  • Unsolicited phone calls
  • Pop-up warnings
  • Text messages
• Gift card scams
• Fake prescriptions scams

Takeaway

If you’ve been a victim of fraud, don’t fret. Instead, take a deep breath and make sure you call the police, your bank, or the Federal Trade Commission at 877-FTC-HELP (877-382-4357). Always stay up to date with the latest scams targeting older adults, so you can protect yourself against them. After all, knowledge is power!

Looking for more great articles? Check out these before you go!

• 10 Tips to Protect Seniors from Fraud, Scams, & Internet Spam
• 5 Ways To Keep Seniors Safe From ‘Granny Scams’
• Our Best Tips to Avoid Scams for Seniors
• How to Protect Seniors from Scam Calls
• Social Security and IRS Scams Are Growing!
• 5 Tips on Preventing Elder Financial Abuse (And the Time I Actually Did)

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