Adults over 60 lose more money to fraud than any other age group in the United States — not because they're less intelligent, but because they tend to have more savings, answer their phones, and were raised in an era when trusting a caller or letter was a reasonable thing to do. Scammers know this, and they've built entire industries around it.

The following scams are the most commonly reported against older Americans. Each one is designed to create urgency, exploit trust, and get money out of your hands before you have time to think. Knowing what they look like in advance is your strongest protection.

For a look at newer threats powered by artificial intelligence — including voice cloning and deepfake video calls — see our companion article: AI Scams: How Artificial Intelligence Is Making Fraud More Dangerous.

The Grandparent Scam

A caller claims to be your grandchild — or a police officer, lawyer, or doctor calling on your grandchild's behalf. The story is always urgent: a car accident, an arrest, a hospital bill. They need money immediately, and they beg you not to tell anyone else in the family because they're embarrassed.

The emotional pressure is deliberate. Scammers coach you to act fast so you don't have time to think or verify. The "grandchild" on the phone will often prompt you by saying "Grandma, it's me!" and wait for you to fill in the name yourself — then respond to the name you provide.

What to do: Hang up and call your grandchild directly at a number you already have. Never send money via wire transfer, gift cards, or cryptocurrency to anyone claiming to be in distress, no matter how convincing they sound.

Medicare and Health Insurance Fraud

Callers impersonate Medicare or insurance representatives and offer "free" medical equipment, testing kits, or updated benefits cards — but first they need your Medicare number to process the claim. Once they have it, they bill Medicare for services never rendered and your personal information is compromised.

According to the HHS Office of Inspector General, Medicare fraud costs taxpayers billions annually. Real Medicare representatives do not call you unsolicited asking for your number — they already have it.

What to do: Never give your Medicare number to an unsolicited caller. If you receive unexpected medical equipment, report it to 1-800-MEDICARE.

Tech Support Scams

A pop-up appears on your screen — sometimes with an alarming sound — warning that your computer has been compromised and instructing you to call a number immediately. The "technician" who answers asks you to install remote-access software so they can "fix" the problem. Once installed, they can see everything on your screen, access passwords, and in some cases lock your files and demand ransom.

Microsoft, Apple, and Google will never contact you this way. No legitimate company sends a pop-up demanding you call them immediately.

What to do: Close the browser or restart your computer. Do not call the number. If you're unsure, take the computer to a local repair shop rather than calling any number from a pop-up.

IRS and Government Impersonation

A caller claims to be from the IRS, the Social Security Administration, or another government agency. They say you owe back taxes, your Social Security number has been "suspended" due to suspicious activity, or that a warrant has been issued for your arrest. They demand immediate payment — often by gift card or wire transfer — to avoid legal consequences.

The IRS communicates through physical mail first. The Social Security Administration does not suspend Social Security numbers. No legitimate government agency demands gift card payment for any reason.

What to do: Hang up. If you're concerned it might be legitimate, call the agency directly using a number from their official government website — not one provided by the caller.

Romance Scams

Someone you meet on a dating site, social media, or a game platform develops a close relationship with you over weeks or months. They're attentive, thoughtful, and seem deeply interested in your life. Then a crisis emerges — a medical emergency, a business deal gone wrong, a plane ticket to finally visit you — and they need financial help, just this once.

The Federal Trade Commission reported that Americans lost $1.3 billion to romance scams in 2022 — the highest of any fraud category. The average loss per person over 70 exceeded $9,000.

What to do: Be skeptical of anyone online who never video chats, always has a reason they can't meet, and eventually asks for money. Do a reverse image search of their profile photos. Talk to a trusted friend or family member before sending anything.

Lottery and Prize Scams

You receive a letter, email, or call congratulating you on winning a prize you never entered. To collect, you must first pay taxes, processing fees, or "release charges." The prize never arrives, but the fees keep coming.

What to do: Legitimate sweepstakes never require payment to claim a prize. If you didn't enter a contest, you didn't win one.

"The best scams don't feel like scams. They feel like emergencies — and emergencies are designed to make you stop thinking."

Five Universal Rules That Cover Most Scams

  1. Slow down. Urgency is a manipulation tactic. Legitimate organizations give you time to think. If someone pressures you to act immediately, that pressure itself is a warning sign.
  2. Hang up and call back. If someone calls you claiming to be a family member, a government agency, or a company — hang up and call them back at a number you independently verify. Don't redial the incoming number.
  3. Gift cards are never payment. No government agency, utility company, court, or legitimate business accepts gift cards as payment. Ever. If someone asks for gift cards, it is a scam.
  4. Establish a family code word. Pick a simple word or phrase that immediate family members can use to verify an emergency call. Share it in person, never by text or email.
  5. Talk to someone before sending money. Before wiring money, sending gift cards, or making any unusual payment, call a trusted friend, family member, or your bank. Scammers specifically tell you not to tell anyone. That instruction is itself the red flag.

Have the Conversation With Your Family — Before You Need To

One of the most effective defenses against scams is also the most overlooked: talking to your family about them in advance, while there's no pressure and no crisis in play.

Many people who lose money to scams say afterward that they wished they had someone to call — but didn't want to bother anyone, felt embarrassed to admit uncertainty, or were explicitly told by the scammer not to tell their family. Scammers count on isolation. A family that has already talked openly about fraud is much harder to isolate.

Set Up a Family Code Word

Choose a simple, memorable word or short phrase — something a stranger would never guess — and make it the standard verification for any emergency call. "What's the family word?" If the caller can't answer, hang up immediately. Share it in person or by phone, never by text or email. Revisit it once a year so everyone remembers it.

Designate a "Second Opinion" Person

Agree as a family on one person — a trusted adult child, a sibling, a close friend — who can be called whenever something feels off. Before sending any money or sharing financial information in response to an unexpected request, you call that person first, no matter what. This removes the shame of asking and puts a buffer between the pressure of a scam call and an irreversible action.

Agree on a No-Shame Rule

People lose money to scams not because they're gullible — they lose money because scammers are professionals. If someone in your family gets caught, or comes close, the response should be support and reporting, not blame. The shame that follows being scammed is one of the reasons many cases go unreported. Removing that shame in advance, as a stated family value, matters.

Review Financial Accounts Periodically Together

For older adults who are comfortable with it, a trusted family member reviewing bank and credit card statements once a month can catch unauthorized transactions early. Set up account alerts for transactions over a certain amount. The earlier fraud is detected, the more likely money can be recovered.

"Talking about scams before they happen is the same as locking your door before going to sleep. You don't wait for the break-in to start the habit."

Where to Report a Scam

If you've been targeted — whether or not you lost money — reporting it helps authorities track patterns and protect others: