Financial scams targeting older adults continue to rise, costing victims billions of dollars each year. According to the FBI’s Internet Crime Complaint Center (IC3), adults aged 60 and older reported more than $7.7 billion in losses in 2025 alone, a sharp increase from previous years. As scammers become more sophisticated, staying informed is one of the best ways families can help protect their loved ones.
Scammers often rely on urgency and emotion to convince people to act before they have time to think. By recognizing common tactics and maintaining open communication, families can reduce the risk of financial exploitation.
Common Scams Affecting Older Adults
While fraud schemes continue to evolve, several scams consistently target older adults:
- Government impersonation: Criminals pretend to represent agencies such as the Social Security Administration, Medicare, or the IRS, claiming immediate action or payment is required.
- Tech support: A phone call, email, or pop-up message falsely warns that a computer has been compromised and directs the victim to pay for unnecessary “repairs.”
- Romance: Fraudsters build trust through online relationships before requesting money for fabricated emergencies or travel expenses.
- Investment and cryptocurrency: Scammers promise guaranteed or unusually high returns while encouraging victims to make quick financial decisions.
Regardless of the approach, the goal is often the same: to create fear, excitement, or urgency that leads someone to share personal information, give the scammer access to their device, or send money.
How Families Can Help Prevent Fraud
Protecting older adults from scams starts with ongoing conversations. Encourage loved ones to pause before responding to unexpected phone calls, emails, text messages, or requests for money. As artificial intelligence makes voice calls appear more realistic, it’s more important than ever to verify a person’s identity before sharing personal information or sending money. Remind loved ones that legitimate organizations will never pressure someone to act immediately or demand payment through gift cards, wire transfers, or cryptocurrency.
It’s also helpful to regularly review bank and credit card statements together, monitor accounts for unusual activity, and discuss any unfamiliar requests or offers. Establishing a trusted family member or advisor as someone to consult before making significant financial decisions can provide an additional layer of protection.
“Scammers are becoming increasingly convincing, often using technology to make phone calls, emails, and text messages appear legitimate,” says Neil Saft, Business Development Manager at Family & Nursing Care, who regularly gives presentations on protecting older adults from financial scams. “One of the most effective ways to protect older adults is to encourage them to slow down, verify who’s contacting them, and never feel pressured to make an immediate decision. A simple conversation can prevent a costly mistake.”
How Caregivers Can Help
Professional caregivers are often well positioned to notice subtle changes that others may not see. They may observe an unusual number of phone calls, unfamiliar visitors, stacks of unsolicited mail, or signs that a client appears anxious or confused after speaking with someone.
While caregivers do not provide financial advice, they can alert family members if they notice concerning behavior or changes that may warrant a closer look. Early communication can help families identify potential scams before significant financial losses occur.
Staying informed, maintaining regular communication, and taking time to verify unexpected requests are among the best defenses against fraud. By working together, families and caregivers can help older adults protect their finances, preserve their independence, and avoid becoming victims of increasingly sophisticated scams.
To learn more about protecting yourself and your loved ones from fraud, visit the FBI’s Elder Fraud webpage and other trusted consumer protection resources, including the National Adult Protective Services Association and AARP Fraud Watch Network. You can also contact us to speak with a member of the Family & Nursing Care team.
800-588-0517
At Family & Nursing Care, recognizing and celebrating Caregivers is a tradition that reflects one of our core values. This year, we were thrilled to host several appreciation events across our service areas in Maryland, Washington, D.C., and Pennsylvania, creating opportunities to connect, share gratitude, and enjoy time together.
Access to quality home care can make a meaningful difference in the lives of older adults, helping them remain safe, independent, and connected to their communities. Yet for many individuals and families, financial barriers can make receiving that care more difficult.
