How Scammers Steal from Seniors and How We Can Stop Them
posted on Jul 11, 2025
Protecting older loved ones from phone, email, and online fraud before it's too late
Imagine working your whole life, saving every penny so you can retire comfortably, only to lose it all to a single phone call. This is a sad reality for many seniors who become victims of sophisticated scams.
Take, for example, Mr. Thomas, a 75-year-old who spent decades building up his savings and retirement funds. One morning, he received a call from someone claiming to be a bank representative warning him that his accounts had been compromised. In a panic, he followed instructions to move his money into so-called “safe” accounts. Within hours, his entire nest egg was gone.
Fraudsters often see seniors as easy targets. Many older adults have significant savings, own property, and have good credit, making them attractive to criminals. Additionally, some seniors may not be as tech-savvy and might not be aware of the latest tactics scammers use. Feelings of fear and urgency often drive them to act without questioning the legitimacy of the situation.
Scammers use various methods to deceive older adults. Phone scams are especially common, where the caller might pretend to be from a trusted organization such as a bank, government office, or even a family member in trouble. They might say your bank loan is at risk, your online loan application has an issue, or claim you owe money for a service you never used.
In recent times, criminals have started using advanced technologies like AI-generated voices, making fake calls sound exactly like a real family member or an official from online banks. These tricks make it harder for anyone, especially seniors, to recognize a scam.
Scammers also rely on email phishing and text message attacks. They might send urgent messages asking seniors to update their online bank details, verify their loan application, or click links promising payday loans in Nigeria. Clicking these links can lead to stolen personal information, emptied bank accounts, or even identity theft.
So, what can families do to help protect elderly loved ones? First and foremost, regular conversations about financial safety are vital. Remind seniors never to share personal information like bank account numbers, passwords, or identification numbers over the phone or via email — especially if they didn’t initiate the contact themselves.
Encourage them to be cautious of anyone requesting immediate payments or telling them to buy gift cards or wire money. No genuine bank or online lender will ever ask for urgent transfers in this way, whether for a bank loan or an online loan application.
Setting up call blocking features or enabling “do not disturb” modes can help reduce the risk of falling for fraudulent calls. If using a smartphone, consider configuring it so that only saved contacts can ring directly while unknown numbers go to voicemail.
For internet safety, bookmarking official websites for online banks and financial services helps seniors avoid fake or misleading links. If password managers feel too complicated, suggest using a dedicated notebook to record passwords and store it securely at home.
Families should also help seniors review their financial statements and bank accounts regularly to spot any suspicious activity early. This includes checking for unexpected charges, new payday loans in Nigeria they didn’t apply for, or unknown transfers.
Finally, it is crucial to remind older adults that falling for a scam is never their fault. Criminals are skilled at creating fear and urgency. Supporting seniors with patience and understanding, instead of blame, can make a huge difference in their willingness to speak up and stay vigilant.
Whether it’s safeguarding an online loan application, managing a bank loan, or simply protecting savings in online banks, proactive steps today can help our elders keep their money and independence safe. Let’s keep them informed, empowered, and secure.