5 Popular Scams that Target Older Adults

Government Imposter Scams: Scammers impersonate officials from U.S. Government agencies that are often well-known in providing services to older adults. These scammers defraud individuals by threatening them with arrest or seizure of their bank accounts for crimes they supposedly committed, or demanding Personally Identifying Information and payment to resolve "suspicious activities".

Emergency/Person-In-Need Scams: Also known as "grandparent scams", these schemes involve scammers impersonating a close relative, an attorney, emergency medical personnel, or law enforcement official to deceive victims into believing that a loved one is in an emergency situation and for them to send money immediately.

Romance Scams: Also referred to as "online dating," "confidence," or "sweetheart" scams involve fraudsters creating a fictitious profile on an online dating app or website to establish a close or romantic relationship with older adults to exploit their confidence and trust. The scammers often solicit payments, ask victims to send Personally Identifying Information as the perpetrators gain the trust of the victims, or convince them to open their bank accounts and Limited Liability Companies to receive and send funds as money mules.

Tech and Customer Support Scams: These scammers impersonate well-known companies as tech and customer support representatives who request remote access to the victims computer to diagnose alleged viruses or malware infiltration. Scammers will typically attempt to solicit payment for fraudulent software products and tech support services or install malware to steal Personally Identifying Information and credit card numbers.

Lottery and Sweepstakes Scams: These scams are a type of advance-fee scheme in which scammers impersonate lottery or sweepstakes representatives, and lawyers claiming that the victims have won the lottery, prize, or sweepstakes.

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Sources:

Compliance Cohort BSA Annual Update Spring 2023