Seniors are often targeted by scammers who use fear, deception, and emotional manipulation to steal money and personal information. These scams can happen over the phone, online, or even in person. Understanding how these frauds work can help protect yourself or a loved one from financial harm.
Why Are Seniors Targeted?
Criminals see older adults as attractive targets because they may:
✅ Have retirement savings or stable income.
✅ Be less familiar with digital technology and fraud tactics.
✅ Be more trusting of authority figures.
✅ Live alone or be socially isolated, making them more vulnerable to manipulation.
✅ Have retirement savings or stable income.
✅ Be less familiar with digital technology and fraud tactics.
✅ Be more trusting of authority figures.
✅ Live alone or be socially isolated, making them more vulnerable to manipulation.
Common Elder Scams and How They Work
Government Impersonation Scams
🚨 How It Works
You receive a phone call, email, or letter from someone claiming to be from the IRS, Social Security Administration, or Medicare. The scammer might say…
- You owe back taxes and must pay immediately or face arrest.
- Your Social Security benefits will be suspended unless you provide personal information.
- You need to verify your Medicare details to continue receiving coverage.
🔒 How to Protect Yourself
- Government agencies never make urgent threats over the phone.
- Never give out Social Security numbers, Medicare IDs, or bank details.
- Hang up and call the agency directly using a verified number.
Grandparent Scams
🚨 How It Works
You receive a call from someone pretending to be a grandchild in distress. They may say…
- "Grandma, it's me! I had a car accident, and I need money for bail."
- "I’m stuck overseas, and I need money to come home."
- "Please don’t tell Mom and Dad—just send the money quickly!"
🔒 How to Protect Yourself
- Always verify by calling your grandchild or another family member.
- Ask the caller a question only your real grandchild would know.
- Never send money via gift cards or wire transfers.
Sweepstakes & Lottery Scams
🚨 How It Works
You receive a letter, email, or phone call saying you won a big prize, but you must…
- Pay a processing fee to receive your winnings.
- Provide your bank information for the deposit.
🔒 How to Protect Yourself
- If you didn’t enter, you didn’t win.
- Legitimate lotteries never require upfront payments.
- Don’t share personal financial information.
Tech Support Scams
🚨 How It Works
A pop-up message or phone call claims your computer has a virus. The scammer will…
- Ask for remote access to "fix" your device.
- Demand payment for unnecessary services.
🔒 How to Protect Yourself
- Never give remote access to your device.
- Contact a trusted IT professional if you suspect a problem.
Charity Scams
🚨 How It Works
Scammers set up fake charities, especially after natural disasters, and ask for donations.
🔒 How to Protect Yourself
- Only donate through well-known organizations.
- Verify charities at www.CharityNavigator.org or www.Give.org.
Warning Signs of a Scam
🚨 Urgency
Scammers demand quick action and discourage you from thinking it over.
🚨 Strange Payment Methods
They request payment via gift cards, wire transfers, or cryptocurrency.
🚨 Too Good to Be True
Winning contests you never entered.
How First State Bank of the Southeast Can Help
🏦 Fraud Monitoring & Alerts
We help protect your accounts, utilize your Premier Card to monitor your identity with MasterCard ID Theft Protection.
🔒 Secure Online Banking
Track transactions safely, and be able to stop fraudulent charges quickly by utilizing online banking.
📞 Customer Support
Call us at 800-248-5950 immediately if you suspect fraud.
If you believe you or a loved one has been targeted by a scam, report it immediately to the Federal Trade Commission at www.reportfraud.ftc.gov.