Scams targeting older adults are on the rise, and the consequences can be devastating. Cases involving elderly victims losing thousands of dollars in MoneyGram scams—are a heartbreaking reminder of how vulnerable seniors can be to financial fraud.
Common Scams Targeting Seniors
- Money Transfer & Wire Fraud Scams – Scammers impersonate law enforcement, family members, or “official” agencies, pressuring victims into sending money.
- Medicare & Healthcare Scams – Fraudsters pose as Medicare representatives to steal personal information.
- Tech Support Scams – Calls or pop-ups falsely claim your computer is infected, tricking seniors into paying for fake services.
- Grandparent Scams – A scammer pretends to be a grandchild in distress, asking for immediate financial help
- Investment & Lottery Scams – Fake investment opportunities or lottery “winnings” that require payment before claiming the prize.
- Sweetheart Scams – Romance scammers create fake social media and dating profiles to gain trust and ask victims to send money for travel
How to Stay Safe
- Verify Before Sending Money – Legitimate organizations will never pressure you to send funds via wire transfer or prepaid gift cards.
- Pause and Confirm – If you receive an urgent request for money, take a moment to verify the caller’s identity by contacting a trusted family member.
- Be Skeptical of Unsolicited Offers – If it sounds too good to be true, it probably is.
- Monitor Financial Statements – Keep an eye on bank and credit card statements for any suspicious transactions.
- Report Fraud – If you or someone you know has been targeted, report it to the Federal Trade Commission (FTC) or use resources like the AARP Fraud Watch Network (AARP Fraud Resources).
With the U.S. senior population expected to quadruple in the next 30 years, protecting our loved ones from financial predators is more important than ever. Awareness and prevention are key to keeping seniors safe.
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