As the world has evolved new, modern, and high-tech ways of living, a key demographic often not thought about is the senior citizens. In the last few years, most tasks have been digitalised making them accessible at one click. Bank accounts, money transfers, shopping, storage of sensitive data such as credit/debit card information, personal details such as addresses, passwords, and social security information are all accessible on the internet. However, with such information being so readily available, a concern of internet safety is raised. Either due to lack of knowledge on appropriate ways of protecting oneself, or due to being vulnerable, seniors are often the victims of scams. Seniors often have good credit, own a home, and have financial savings, which make them the most attractive population to scammers. [1]

Common scams that target seniors

The most common reason that scams are so prevalent in the elder community is due to the polite, trusting and kind nature of most seniors. Another factor that scammers tend to use is fear. The frequent ways in which such predators target seniors is at the guise of impersonating a government official, pretending to be tech support, or impersonating to be a grandchild. In 2023 alone over 100,000 seniors have been scammed, losing 3.4 billion dollars to fraud [2]. 

The most common scams that are known to target seniors are:

1. The Grandparent Scam: Scammers get access to the personal information of many individuals through data brokers and mining social media profiles. Seniors, often having a soft spot for their grandchildren, are often unable to decline a request. Scammers use this information to manipulate and trap grandparents by making them believe that their grandchildren are in a crisis which needs immediate attention. Often, they request large sums of money as a resolution to this problem. The money is taken through gift cards or wire transfers, preventing any chance of the victims gaining their money back. [3]

2. Tech Support Scam: These scammers pretend to be the customer support for big tech companies such as Microsoft, wherein the unknowing victims call the tech support lines that are projected onto their screens. These scammers then ask for remote access to the seniors’ computers, pretending to help run a diagnostic test on their computer. After the diagnostic test, the scammers then attempt to convince you to purchase a warranty program in order to “protect your computer” better. With this, they gain access to sensitive information such as card details, passwords and usernames. [4]

3. Impersonation Scam: The scammers would impersonate any official entity such as the government, law enforcement, banks and even the IRS. The threats of delayed payments for taxes, any wrong doings that were done, threats of revoking medicare as well as cutting off social security. They claim the only way for the seniors to prevent arrest or deportation is to pay all the amount via debit cards, wire transfers or even gift cards. The sensitive information of the seniors is later used to commit identity theft. [5]

4. Romance Scam: These scams involve the scammers creating fake social media profiles with attractive individuals, who reach out to seniors who are lonely. They gain the trust of the seniors by luring them into dating, and then stealing their money through pretending to have various hardships which require monetary assistance. They also pretend to be overseas, and ask the seniors to pay for their travel, visas, and emergencies in order to arrive in the US to meet them. These scams can drag out for multiple months or years, causing the seniors to lose plenty of money. [6]

How to prevent scams

Scammers often follow a similar script across various scams. Identifying these warning signs, along with the knowledge of the scams can help the older adults not fall prey to such scams. It is always important to follow one’s feelings on whether a call is legitimate or not. A few common ways to avoid scams include:

1. Avoiding acting quickly and urgently, as the scammers would often attempt to act on the fear of the individual. Take a minute to think about the call, and never act immediately. 

2. Avoiding alternative modes of payments such as gift cards, wire transfers, bitcoin or cryptocurrency, or even a sketchy payment app. Such demands should ring alarm bells and cause one to be suspicious. 

3. Be aware of any threats that you have received. Scammers would often act hostile and dodge answering questions as it would take away from the time they have available. 

4. Avoid answering calls from unknown numbers or spoofed IDs. In case you are suspicious, it is always better to look up the correct contact information of the organization and contact them yourselves about the concern.  

5. Monitor your credit carefully, as any deviations may indicate that there is suspicious activity happening with one’s identity. 

6. Always ask a trusted friend or family member for advice on how to proceed, and whether the situation is one similar to a scam. One can also benefit from asking their financial institution about the monetary transactions. [7]

As our world becomes increasingly digital, seniors face a heightened risk of online scams that exploit their trusting nature, financial stability, and limited familiarity with technology. Awareness is the first line of defense. Staying informed and trusting your instincts can help protect both your finances and your peace of mind.

References: 

1. https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-frauds-and-scams/elder-fraud 
2. https://www.ncoa.org/article/top-5-financial-scams-targeting-older-adults/ 
3. https://www.fcc.gov/consumers/scam-alert/grandparent-scams-get-more-sophisticated 
4. https://www.ftc.gov/business-guidance/small-businesses/cybersecurity/tech-support-scams 
5. https://www.scamwatch.gov.au/types-of-scams/impersonation-scams 
6. https://www.scamwatch.gov.au/types-of-scams/online-dating-and-romance-scams 
7. https://www.hebrewseniorlife.org/blog/10-tips-to-protect-seniors-from-being-scammed