Adults over 60 are disproportionately targeted by identity thieves and scammers. In 2024, seniors reported losing over $3.4 billion to fraud — more than any other age group (FBI IC3 Report).
Why Seniors Are Targeted
- More accumulated wealth and stable incomes from retirement accounts and Social Security.
- Less familiarity with digital fraud tactics.
- More trust in authority figures — government, bank, and tech support calls.
- Social isolation makes them more vulnerable to relationship-based scams.
- More likely to have clean credit with high limits.
Top Scams Targeting Seniors
Medicare and Social Security Fraud
Scammers call claiming there's a problem with Medicare or Social Security benefits, demanding personal information or payment to "fix" it. Government agencies never call demanding immediate payment.
Grandparent Scams
A caller claims to be a grandchild in trouble (arrested, in an accident) and needs money immediately. They ask you to keep it secret from other family members.
Tech Support Scams
A pop-up warns of a virus and instructs you to call a number. The "technician" asks for remote access to your computer and eventually your financial information.
Romance Scams
An online companion develops an intimate relationship over weeks or months, then requests money for an emergency.
Protection Plan for Seniors
- Freeze credit at all three bureaus.
- Sign up for Social Security e-Statements at SSA.gov.
- Review Medicare explanation of benefits every month.
- Never give personal info or money to unsolicited callers — hang up and call the official number.
- Add a trusted family member or friend as an authorized contact at your bank.
- Use identity monitoring service like Aura for continuous 24/7 protection.
Sources: FBI IC3 Annual Report 2024; FTC; AARP Fraud Watch Network.