How to Spot Scams Targeting Older Adults

Summary

• Scammers often create urgency so you act before you have time to verify what they are telling you.
• Requests for gift cards, wire transfers, cash or sensitive information can be warning signs.
• Common schemes may involve impersonating Medicare, relatives, debt collectors, the IRS, romantic partners, prize organizations, tech support or financial professionals.
• When something feels unusual, stop the conversation, research the request and ask someone you trust for a second opinion.
• Scams can affect anyone, but older adults are often targeted with messages designed to create fear, urgency or trust. Knowing the warning signs can make it easier to protect your money and personal information before you respond.

Know the Red Flags

A scam can arrive by phone, email, text, social media or another form of communication. Even when the person contacting you seems familiar or trustworthy, watch for behaviors that are meant to keep you from slowing down and checking the story.

Pressure to act quickly

Scammers may claim there is a warrant for your arrest, threaten that you will lose access to an account or tell you that someone you care about is in trouble. The goal is to make the situation feel urgent enough that you respond before you have time to investigate.

Requests for money in unusual ways

Be cautious when someone unexpectedly asks you to send money by wire transfer, gift card or cash. These payment methods can make it harder to trace or cancel a transaction once the money has been sent.

Requests for sensitive information

Passwords, Social Security numbers and account numbers should be handled carefully. A scammer may ask for this information while pretending to represent a legitimate organization. Before sharing sensitive information, research the request and make sure you are using a secure, trusted method of communication.

First Financial's cybersecurity guidance includes additional red flags and steps you can take to help protect your accounts and devices.

If a situation feels unusual, even when it does not match one of these warning signs, stop before responding. Hang up, do not reply, research the situation and ask someone you trust for another perspective.

Common Scams to Watch For

Scam tactics continue to change, but several common approaches rely on impersonation, emotional pressure or promises that sound convincing.

Medicare scams Someone claims to represent Medicare and asks for sensitive information, then uses that information to bill Medicare for services that were not provided. Fraudulent medical services may also be offered and billed to Medicare.

Grandparent scams: Someone impersonates a loved one, often a grandchild, through a call, email or social media message. The person claims to be in trouble and asks for money.

Debt collector or IRS scams: Someone claims to be a debt collector or IRS representative and says that you or a loved one owes money. Another version may target relatives after a death and falsely claim that they are responsible for the deceased person's debts.

Romance scams: Someone builds an online relationship and eventually asks for money, either as a large payment or through smaller requests over time. The requests may be framed as support, an emergency expense or travel costs.

Lottery or prize scams: Someone says you have won money, a vacation or another prize but must first pay taxes or a processing fee. A fraudulent check may also be used to make the prize appear legitimate before the check eventually bounces.

Tech support or antivirus scams: A popup, call or email claims that your device has a virus. The scammer offers to fix the problem by accessing the device or installing software, then uses that access to steal sensitive information.

Investment scams: Someone promotes an investment without clearly explaining its risks or pretends to be a financial advisor in order to gain access to an account and steal money.

Take Time Before You Respond

A scammer benefits when you act before you verify. Giving yourself time to check a request can be one of your strongest defenses. Do not send money or share sensitive information simply because a message sounds urgent or appears to come from someone you know.

You can also monitor your accounts for unusual activity and review statements regularly. First Financial customers who prefer secure digital access can use eStatements to view and download account statements through Digital Banking.

When something seems suspicious, stop the conversation and verify it independently before taking action.