Fraud Tips

Fraud and Scams: What Older Adults Need to Know

While all types of scams can target any one of us, there are a few types that generally target the older members of our community.

Below, we’ve outlined common scams along with key warning signs to help you recognize and avoid them. Stay informed and protect yourself and your loved ones!

We will talk about:

• Social Security Scams
• Tech Support Scams
• Investment Scams
• Grandparent Scams
• Lottery Scams

Social Security Scams

Scammers steal millions from Americans by posing as officials to access personal information and benefits. Two common tactics include:

• Fake Phone Calls: A fraudster claims your Social Security number is suspended or linked to crime, then asks for confirmation. They may offer a new number or reactivation—for a fee. Never share personal information with unsolicited callers!


• Phony Letters: A scam letter warns of benefit suspension due to office closures and urges victims to call. Once on the phone, scammers trick them into handing over personal details or payments via gift cards, wire transfers, or cryptocurrency.

• Threaten you with benefit suspension, arrest, or legal actions unless you pay a fine.
• They will never require payment via gift card, cash, wire transfer, cryptocurrency, or prepaid debit cards.

• If you receive a call, email, or text asking for your Social Security number, be suspicious and don’t share it!
• Fraudsters try to incite fear, encourage secrecy and make you act before you can think! Don’t be afraid to hang up!

Tech Support Scams

Fraudsters that try to manipulate victims with tech support scams prey upon the doubts and discomforts people might have with using their computers and other devices. Tech support scams often begin with a phone call or a pop-up window displaying a fake error message with a number to call. Scammers often impersonate representatives from a tech company to persuade victims to provide remote access to their computers to “repair” the fake issue, such as malware.

If the victim provides access to the device, criminals will scan the computer to “troubleshoot” the problem and offer fake solutions. They may install dangerous computer applications or encourage the victim to pay for a phony subscription. In the process, the scammers steal the victim’s money and identity.

• Be suspicious of pop up warnings! Security pop-ups from real tech companies will not ask you to call a phone number.
• Be suspicious of any unsolicited calls from anyone who says there’s something wrong with your computer.

• Do not give access to your computer or share passwords with anyone who contacts you.
• Keep your computer’s security software up to date.

• Contact your bank to report fraud and check your accounts.
• Change passwords to your computer, bank accounts, and other sites.
• Scan your computer for viruses and call your security software company for help.
• Report it to the Federal Trade Commission at ReportFraud.ftc.gov.

Investment Scams

Investment scams took the biggest toll in 2024, with Americans losing roughly $6.5 billion according to the FBI's Internet Crime Compaint Center (IC3)'s annual report. The promise of making a lot of money quickly with little to no risk can be very tempting. But if something sounds too good to be true, it probably is.

• Guarantees! Investments all include risk, so don’t let anyone trick you into thinking otherwise.


• Urgency- watch out for “limited time offers” and other high pressure tactics


• Ambiguity


• Cold Calls- Legit offers usually don’t come out of the blue. Watch out for unsolicited calls, emails, or social media investment offers.


• Lots of excitement around offers that are too good to be true.

Grandparent Scams

A grandparent scam is a type of imposter scam. Fraudsters will call, posing as a family member who needs money immediately for an emergency, or else as a professional such as a doctor or lawyer claiming to be helping your family member. They may have information about you, including your name and where you live. And with Artificial Intelligence, fraudsters now have the capabilities to even clone voices of real relatives. They may claim to be stranded, in jail, or require help paying medical bills.

Scammers will beg you for money, ask you to keep it a secret, and urge you to act quickly. (all red flags!) Usually, they will tell you to wire money, pay with gift cards, or send cryptocurrency. Don’t do it! If you send money, you will not be able to get it back.

If you get a call that could be a Grandparent Scam, do the following:

• Confirm the caller. Verify who’s calling you by contacting that person directly on a number you already have for them. Or else, consult with a trusted family member.


• Don’t be afraid to ask questions! In this type of scam, fraudsters count on fear and your concern for your loved one to make you act before you think. The more questions you ask, the more inclined they will be to ditch the scam if they suspect you’re on to them.


• Never give personal information to anyone over the phone unless you initiated the call and you trust the other party.


• Never rush into a financial decision. If something doesn’t feel right, it may not be right. It's not rude to say no and get more information or decline to act.


• Report it!

Lottery Scams

Lottery scams, also called solicitation scams, advance fee scams or sweepstakes scams often begin with fraudsters telling the victim they won the lottery or a raffle. The victim may be issued a check worth more than the amount owed and instructed to pay taxes and fees before receiving a lump sum payment. Unfortunately the check- in addition to the raffle- is bogus.

Protect yourself from Lottery Scams with these tips:

• Don’t be fooled by the appearance of the check. Scam artists use sophisticated technology to create legitimate looking counterfeit checks, money orders, and cashier’s checks.


• Never “pay to play”. If someone who is giving you money ask you to wire money back or send more than the exact amount, that’s a red flag that it is a scam! If a stranger wants to pay you for something, insist on a cashier’s check for the exact amount.


• Verify the requestor before you wire funds or issue a check. It is important to know who you are sending money to before you make a payment. Confirm the requestor is a trusted source.


• Just because the check has cleared does not mean it’s good. Under federal law, banks must make deposited funds available quickly, but it can take days for the bank to learn that a check was bad.


• Report suspected fraud to your bank immediately. Bank staff are trained to spot fraudulent checks. If you think someone gave you a fake check, don’t deposit it, report it!

Other Resources

Learn about other types of fraud and scams in our Fraud Tips page.

If you are worried that you have been involved in a scam, do not be embarrassed- give us a call right away at 215-634-7000. You can also visit our Suspected Fraud page for a list of what to do next.