Financial Scams Targeting Seniors: How to Stay Safe

It starts with a simple phone call.

The person on the other end sounds friendly, even concerned. “Hi, Grandma, it’s me! I need your help.” Or maybe it’s a message in your inbox: Your bank account has been compromised. Click here to verify your information.

For too many seniors, these scams feel all too real, and sometimes, they’re devastating.

Scammers know that older adults are often trusting, and polite, and may have significant savings.

But knowledge is power, and you can protect yourself by recognizing the tricks these fraudsters use.

Let’s walk through some of the most common scams targeting seniors and, more importantly, how to avoid them.

1. The “Grandparent” Scam

Imagine getting a call from someone who sounds just like your grandchild, saying they’re in trouble. They might say they were in a car accident or arrested and need bail money, fast. They beg you not to tell their parents. Panic sets in, and before you know it, you’re wiring money to a scammer.

How to Stay Safe:

• Always confir…