According to the Federal Trade Commission (FTC) older adults reported losing more than 1.6 billion to fraud in 2022.

Scammers often target older adults because they are more likely to have significant financial assets and a good credit score. They may also be less tech savvy and more trusting than younger people.

When older adults have been the victim of a scam or identity theft, they may be hesitant to report the crime for several reasons.

Fear is one explanation why they may not report the crime. They may worry that if they admit they have been scammed their family members may think they are unable to manage their own finances, make their own decisions and live independently. The fear of losing their independence is a concern for many seniors so they don’t inform their family or the authorities when they have been scammed.

They may also feel embarrassed when they realize they have been taken advantage of.

If they have been the victim of identity theft, they may be unaware that it has happened, often identity theft goes undetected until there are warning signs such as being denied credit, receiving calls and letters from bill collectors, or receiving bills and charges that they do not recognize.

How to Avoid Being Scammed

Don’t open links or attachments in email messages unless you know they are legitimate. Delete any messages that seem even remotely suspicious.

Keep the operating system, programs, apps and security software on your computers and phones up to date.

Never send money to anyone you don’t know, even if you do know them be extremely cautious of anyone asking for any type of payment.

Romance scams are extremely common. Be wary of online connections who profess their love, ask for money, or ask that you keep the relationship secret.

Pay close attention to web addresses, look at the domain name, scammers use domain names that are very similar to legitimate addresses.

Government agencies will not contact you through email, social media or by text messages.

Avoid sharing your personal information on social media, keep your private life private.

If you receive a text message, phone call or email message that looks like it is coming from a legitimate source such as your bank, call the business directly at a number you know to be true instead of responding to the message or contacting them using the information contained in the message.

No legitimate business or agency will threaten you or demand payment.

Don’t answer calls or text messages from numbers you don’t know.

If someone contacts you claiming to be a family member or friend in trouble, don’t respond. Instead contact the person directly.

Scammers spoof caller ID so even if a number appears to be legitimate be cautious.

Never give personal information, such as your Social Security number or bank account number, over the phone or in an email message.

Never let anyone you don’t know into your home.

If you are having work done in your home lock up your valuables, have someone there with you when they arrive and insist they show ID to verify their identity.

Install security cameras throughout your home.

Never purchase anything from someone who shows up at your door.

Freeze your credit with the three major credit bureaus, Equifax, Transunion and Experian.

Review your credit reports often to check for inaccurate or false information.

Never put anything confidential in your mailbox, mail theft is a common occurrence. Eliminate mail coming to your home by signing up for online bill pay and choose to have any statements sent electronically.

Sign up for email or text alerts at your bank, credit union, credit card company and other financial institutions so that you know when any account activity takes place.

What to Do if You Are Scammed

Report the scam to your local police department.

Report scams to the Federal Trade Commission

Contact all financial institutions you do business with to report the theft.

Change the passwords and security questions for all your online accounts.

Monitor your accounts for any unusual activity.

Get copies of your credit reports from all three bureaus, Equifax, Transunion and Experian, and check for any errors or inconsistencies. Get new copies of your reports every three months as it may take some time for fraudulent activity to show up on your reports.

Contact the Bureau of Motor Vehicles and the Social Security Office to report the scam or identity theft.