Protecting Seniors from Financial and Cyber Scams

Author: 316 Financial | Published: Thursday, August 21, 2025

Every year, scammers steal millions of dollars from older adults by preying on trust, routine, and the desire to help others. Senior Citizens Day, observed on August 21, is a reminder to honor the wisdom and contributions of older generations—and to protect them from those who would take advantage.

Popular Scams Targeting Seniors Right Now

Tech Support Scams
A caller or pop-up claims your computer has a virus and offers to “fix” it for a fee. In reality, they’re after your credit card number or remote access to your device.
Imposter Scams
Fraudsters pretend to be government officials, bank representatives, or even family members. The message is always urgent: send money now or face serious consequences.
Fake Sweepstakes
Victims are told they’ve won a prize—but must first pay taxes or fees to claim it. The winnings never arrive.
Romance Scams
Online scammers build relationships through dating sites or social media, then ask for money to cover emergencies or travel.
Medicare and Health Scams
Fraudsters pose as Medicare representatives, asking for personal or payment information under the guise of providing benefits.

How to Stay Safe

Slow down. Scammers thrive on urgency. Pause before giving out information or sending money.
Verify the source. Call the company, government agency, or family member directly using a number you know is legitimate.
Guard your information. Never share Social Security, Medicare, or bank account numbers over the phone, email, or text.
Use strong passwords. Add extra protection with multifactor authentication whenever possible.
Talk openly. Families can help by discussing common scams and encouraging loved ones to check in before making financial decisions.

Looking Out for Loved Ones

Seniors aren’t alone in facing these threats. Family members, friends, and caregivers all play a role in keeping them safe. Check in often, talk about the latest scams, and make sure they feel comfortable asking questions before taking action.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

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