According to the FBI, scams targeting those 60 and older resulted in over $3.4 billion in losses in 2023 alone. Although financial scams can occur throughout the year, they usually increase around the holiday season due to increased online shopping or donations. Older adults, especially those who are isolated or lonely, are particularly vulnerable. 

Common Scams: 

• Romance: The scammer pretends to be romantically interested in someone, develops trust, and then asks for money or a loan.
  • Signs to watch out for:
    • Reluctance to video chat or meet in person
    • Excessive love declarations early on in the "relationship"
    • Sharing very little personal information about themselves 
    • Asking for money or gift cards for various reasons
• Publisher's Clearing House:
  • Signs to watch out for: 
    • Asking for payments upfront to cover fees, taxes, or other charges. The real Publisher's Clearing House would never ask for money upfront. 
    • Claims to be from "PCH Prize Patrol" and asks for money. 
    • Suspicious requests: Asking to wire money, purchase gift cards, or provide any sensitive information. 
• Utility Company: Scammers pretend to be from a utility company to steal money or personal information. Scammers often bully utility consumers, threatening to shut off their gas or electricity to coerce them into handing over personal or financial information.
  • Warning signs:
    • Utility companies will never demand payment over the phone or ask for payment in unusual ways such as gift cards or wire transfers.
    • Utility companies will never demand immediate payment in person or over the phone
    • Utility companies will never demand to enter your home
• Charity: Scammers pretend to represent a real or made-up organization and asks for donations. They may mimic genuine charity names or pretend that you have given to that charity before. 
• Home repair: Someone posing as a contractor, approaches the homeowner with a false claim about needing urgent repairs to their home. They may knock on your door stating that they are doing work in the area. They will pressure individuals to make decisions quickly and request a large upfront payment. Always verify the contractor's license and insurance in your area. 
• Debt relief: Fraudulent schemes that target consumers with debt and promise to help them settle or lower debts. Often times requesting upfront frees, aggressive pressure, and unsolicited phone calls or emails to contact consumers. This could include:
  • IRS: If you get an email, text, letter, or call that claims to be from the IRS stating that you have a refund or owe money. Also if you see a social media posts about how to get a big refund — it's a scam. The IRS will never contact you via email, social media, or phone. 
  • Credit repair: Promising to improve your credit score. Often guarantees results, asking you for personal information and requesting payment up-front. 
  • Debt settlement: Debt relief service scams target consumers with significant credit card debt by falsely promising to negotiate with their creditors to settle or otherwise reduce consumers' repayment obligations.
  • Auto loan reduction: Auto loan modification scams falsely promise that they can reduce consumers' monthly car loan or lease payments to help them avoid repossession.
• UPS Scams: Scammers may send fake texts or emails that appear to be from UPS about a delivery. 
• Grandparent: Scammers pretend to be a grandchild or relative in trouble and asks for money or gift cards.
• Tech Support: Scammers pretend to be computer experts offering technical support to trick people into giving access to their computers and personal information.
• Blackmail: The scammer threatens to release personal information unless the victim sends money using wire transfers or gift cards.
• Investment: Scammer pretends to be a financial professional with urgent investment—fake opportunities, including offers to teach you how to invest in cryptocurrency.

Tips to avoid Scams: 

• Be wary of someone offering a “great deal” that seems too good to be true or pressuring you to act quickly
• Do not be afraid to say “no” or hang up if you feel uncomfortable or suspicious about a phone call or ignore emails or text solicitations.
• Never send money using a gift card or wire transfer directly to a seller or unknown person.
• Do not click on suspicious links or attachments in text messages, emails, websites, or social media.
• Be suspicious of a company asking you by phone or email to update your password or account information. Look up the company’s phone number on your own and call the company to find out if the request is real.
• Keep personal information in a safe and secure location that unauthorized individuals cannot access
• Do not share numbers of passwords for accounts, credit cards, or Social Security.
• Monitor your financial accounts by setting up alerts for unusual activity and reviewing statements more frequently during the holidays.
• Build a strong support network and keep in touch with others to prevent social isolation. This can decrease the chances that you will experience financial exploitation and the likelihood that it will go unnoticed.
• Stay informed about current scams and keep older family members up to date on official warnings about current scams or fraud.

If you need immediate assistance from law enforcement, call 9-1-1. You can also contact the Victim Assistance program staff at 517-278-2538 or toll-free at 888-615-8009.