With the current landscape of AI, it's become much more difficult to know who you're speaking to on the phone, especially for senior citizens. It has enabled scammers to masquerade as family members and relatives, preying on the elderly for their hard earned money. Of course, these scams can target people of all ages, but this article will be tailored towards advice for seniors and their family members.
The FBI reported in 2025 that $7.7 billion dollars of total losses occurred due to fraud perpetuated against seniors. This was a 59% increase from 2024 and it was largely attributed to investment fraud, tech support and romance scams, and government impersonation. Once again, it is advancements in generative AI itself serving as a catalyst for this large increase of attacks.
"AI-enabled synthetic content is becoming increasingly difficult to detect and easier to make, which allows criminal actors to potentially conduct successful fraud schemes against individuals, businesses, and financial institutions." (2025 IC3 Annual Report)
When a company is examining their security posture, they go through a process called Risk Assessment. In essence, the company analyzes both threats and vulnerabilities to their business. They identify key assets and rate them by their significance to the business. They determine the likelihood of a particular threat occurring and assign a dollar value to it. We can utilize that same concept for the security of the elderly and their assets. It can be helpful to get a piece of a paper and start to map out the answers to the following questions.
What makes you or your loved one valuable to the scammer and what assets would they potentially target? This could include retirement accounts, a home's equity, social security, or a savings account. Ensure each account has the proper security controls in place, like multi-factor authentication and a strong password. Actively monitor your accounts and ensure that you have notifications on for transactions and suspicious account activity. Typically, you can access these controls in the security page of the account settings, but you can reach out to customer support. Remember, find the phone number only on the official website.
What devices could serve as a potential route of communication from the scammer? What devices could be compromised? Of course, this could include a phone, tablet, or a computer. Teaching the basics of detecting a phishing email or text message is a great start. Here is a short guide from the FTC on detecting a phishing attempt.
What information is publicly available on the potential victim? How could it be used to gain trust? This is commonly referred to as OSINT, which stands for 'open source intelligence'. You can begin to investigate this with a simple Google search or a tool like Spokeo. Social media accounts, potentially from a relative of the senior, could be used by the scammer to collect information on their relationship. One useful strategy is to ask questions with answers that only come from in-person interactions. You could also develop a specific pass phrase or sentence to confirm the identity.
What vulnerabilities are unique to you or your loved one? For example, the elderly often suffer from greater cognitive challenges which can impair their memory and judgement. This can make it extra difficult for them to detect inconsistencies from a scammer. Reducing isolation, staying connected with the rest of the family, and maintaining communication with a trusted family member are all great strategies to reduce these vulnerabilities.
Common Scams to Look Out For
Investment Fraud
Historically, investment fraud has uniquely targeted older generations. This is typically because senior citizens have a larger stockpile of savings and investments than most people. These scams almost always involve urgency and guaranteed returns. Often, they operate as ponzi schemes, named from the famous con man Charles Ponzi who ran a scheme based on the arbitrage of international reply coupons for postage stamps. Over time, the scheme became unsustainable and he started to pay older investors with the newer investors money, and not with returns directly from the arbitrage. Another great example is Bernie Madoff, who ran the largest ponzi scheme in history. In short, he ran an investment fund promising steady, reliable returns through a complex stock trading strategy. For the final 15 years of his fund's journey, Bernie hadn't made a single trade and he fabricated his returns.
An example more unique to the internet is cryptocurrency. While cryptocurrency has largely been recognized as a legitimate investment from financial institutions in recent years, many of the smaller cryptocurrencies are scams. If an unknown number or a social media post suggests that you buy a specific cryptocurrency, it is more likely than not a scam. Other kinds of scams may use cryptocurrency as a form of payment. For example, if a supposed tech support employee on the phone suggests you drive to a Bitcoin ATM, it is a scam.
Tech Support Scams
It is most common for a tech support scam to start with a pop-up from a website on your web browser that will say something along the lines of "Your Computer is Infected with a Virus" and it will include a phone number to a fake tech support agent. It will be designed to look like a legitimate Windows notification or a pop-up from a real anti-virus, but really it's just on the website. The malicious website may also persuade you to download a supposed anti-virus, which is really just malware in disguise. The delivery route may vary, but the goal is to convince the victim to start to communicate with the fake tech support agent.
From there, the tech support agent will get you to download remote access software, like AnyDesk, TeamViewer, or Microsoft Remote Desktop, so they can remotely control your computer and "fix" the issue. Often, the scammer requests to see the victim's bank account so they can estimate the size of the target and document the information for future scams. They will request payment in a variety of forms, including gift cards, cryptocurrency, a payment app, or a wire transfer.
One evolution in tech support scams is the "Phantom Hacker" scenario. This scam involves three phases. It begins with a fake tech support agent who remotely accesses the computer, examines a bank account, and tells the victim to expect a phone call from their bank. The victim will receive a phone call from the fake bank representative who will claim the account was compromised. From there, the victim is transferred over once again to a fraudulent US government employee. This fake government employee, typically masquerading as the Federal Reserve, Treasury Department, or the Social Security Administration, will request that all funds are transferred to a secure account. This scam is especially brutal since they aim to take all the funds that are available.
Romance Scams
With the rise of dating apps and websites, scammers noticed they could build trust by forming brand new relationships with potential victims. These scams can start on other platforms too, including LinkedIn, Instagram, Facebook, etc. In essence, after building a rapport with the victim, the scammer will try a variety of methods to extract money.
One notable scam is pig butchering, which comes from the Chinese phrase "Sha Zhu Pan" (杀猪盘). It's really another form of an investment scam often done through a romantic relationship, where they fatten up the victim with small returns before the slaughter. The scammer will suggest a new investment, like a cryptocurrency, and lead them to a fake exchange website to make the investment. It will look eerily real, perhaps even cloned from a real exchange website, but it is all in the scammer's control. The victim will be able to withdraw small amounts just fine, but any large withdraw request will be met with an additional deposit requirement or fee. They will incentivize additional deposits with excessive bonuses. Again, the whole process is done under the guise of a real relationship.
Sextortion begins when the scammer receives sexually explicit photos or videos from the victim. They will then use the content as blackmail against the victim to extort money from them. Recent cases have also shown scammers using AI generated photos and videos as blackmail when real photos are unavailable. Another scam, perhaps the most common, is an emergency money request. Whether it be a medical emergency, an automobile repair, or a legal issue, the scammer leverages the victim's emotions and convinces them to send money to pay for it.
Moving Forward
For seniors and their family members, the best course of action is to have the conversation now. Evaluate what assets are at risk, what devices could be compromised, and what personal information is publicly available. Take the time necessary to understand the latest evolution of scams and how to spot them.
If you or someone you know has been targeted, report it at ReportFraud.ftc.gov or IC3.gov. Many victims stay silent out of embarrassment, but every report helps law enforcement identify patterns and protect the next potential victim.