
08/01/2024
𝗛𝗼𝘄 𝗖𝗮𝗻 𝗦𝗲𝗻𝗶𝗼𝗿𝘀 𝗦𝘁𝗮𝘆 𝗦𝗮𝗳𝗲 𝗢𝗻𝗹𝗶𝗻𝗲?
Con artists use the anonymity of the internet to trick vulnerable people into giving up money, passwords, and sensitive personal details. More than ever, these scammers are targeting older Citizens with their schemes.
According to the Federal Trade Commission (FTC) and the FBI:
Americans aged 60 and above lose more to fraud than any other age group — with combined 𝗹𝗼𝘀𝘀𝗲𝘀 𝗼𝗳 $𝟯.𝟰 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗶𝗻 𝟮𝟬𝟮𝟯 𝗮𝗹𝗼𝗻𝗲.
Whether you’re looking to protect yourself or an older loved one from online scams, fraud, and identity theft, it pays to know the latest online safety tips and tools.
𝗪𝗵𝗮𝘁 𝗔𝗿𝗲 𝘁𝗵𝗲 𝗠𝗼𝘀𝘁 𝗖𝗼𝗺𝗺𝗼𝗻 𝗧𝗵𝗿𝗲𝗮𝘁𝘀 𝗙𝗮𝗰𝗶𝗻𝗴 𝗦𝗲𝗻𝗶𝗼𝗿𝘀 𝗢𝗻𝗹𝗶𝗻𝗲?
Seniors are prime targets for online scammers who assume older Citizens may be more trusting and less tech-savvy and, therefore, more likely to fall for pressure and fear tactics.
For example, in September 2023, the FBI warned about a fast-growing type of fraud known as the “Phantom Hacker” scam. In this elaborate con, fraudsters impersonate tech support agents, bank representatives, and government officials to lure older victims into transferring their life savings
When it comes to online scams targeting seniors, most fall into a few common categories:
𝟭 𝗧𝗲𝗰𝗵 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝘀𝗰𝗮𝗺𝘀:
Fraudsters use fake pop-ups, emails, or even phone calls to try and make victims believe their devices are infected with viruses. These tactics may pressure older victims into giving up remote access and passwords or sending money to “fix” the situation.
𝟮 𝗜𝗺𝗽𝗼𝘀𝘁𝗲𝗿 𝘀𝗰𝗮𝗺𝘀:
These scams involve criminals pretending to be someone the target trusts, like a family member or a lawyer. In the grandparent scam, con artists use emotional connections and scare tactics to fool a victim into believing their grandchild needs money to get out of serious legal trouble.
𝟯 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 𝘁𝗮𝗸𝗲𝗼𝘃𝗲𝗿𝘀:
Fraudsters use stolen or leaked passwords to seize control of online accounts, including email or social media. If crooks access financial accounts, they could make unauthorized purchases or withdrawals.
𝟰 𝗠𝗮𝗹𝘄𝗮𝗿𝗲 𝗮𝗻𝗱 𝗼𝘁𝗵𝗲𝗿 𝘃𝗶𝗿𝘂𝘀𝗲𝘀:
Harmful software is secretly installed on older adults' devices, putting their personal data at risk. Malicious programs can track keystrokes, access files, and even take over cameras.
𝟱 𝗥𝗼𝗺𝗮𝗻𝗰𝗲 𝘀𝗰𝗮𝗺𝘀:
Scammers exploit lonely older Citizens by creating fake online profiles on dating platforms and social networking sites. As they build a romantic relationship online, they gain the victim’s trust before asking for money or an investment in some “lucrative opportunity” like a cryptocurrency or business venture.
𝟲 𝗣𝗿𝗶𝘇𝗲𝘀 𝗮𝗻𝗱 𝗹𝗼𝘁𝘁𝗲𝗿𝘆 𝘀𝗰𝗮𝗺𝘀:
Older Citizens are told they've won a grand prize or lottery via mail, phone, or email. But to claim their prizes, they must pay processing fees or taxes. The prizes don’t exist, so victims lose their money, get nothing in return, and potentially expose their banking details.
The bottom line: While younger Citizens are actually more likely to fall for scams than older people, elderly Citizens typically lose more making them prime targets for online scammers.
In our next article, we will discuss the 5 Online Safety Tips for Seniors to protect themselves and their loved ones against online scams.
Stay tuned.