Even if you think you’re not a target, your money might be more at risk than you realize. Scammers today are smart, sneaky, and always looking for new ways to trick people—especially older adults. The best way to protect yourself or your loved ones is to know how these scams work before they strike.
According to the American Association of Retired Persons (AARP), Americans aged 60 and older lost over $28.3 billion in 2023 alone due to scams. Many believe the real number is even higher.
Here are 14 of the most common scams targeting retirees across the United States, including Washington state.
1. Grandparent Scam
In this scam, a criminal pretends to be your grandchild or someone calling on their behalf. They claim your grandchild is in trouble and needs money urgently. They might know personal details that make the story sound real. In some cases, scammers ask victims to send cash through unusual methods, like Uber delivery.
2. Fake Government Officials
Scammers might pretend to be from the IRS, Medicare, or Social Security. They spoof official numbers to make the call look real. Once you answer, they ask for sensitive details like your Social Security number, which they then use to steal your identity.
3. Tech Support Scams
These scams happen when you search online for tech help and accidentally call a fake number. The scammer may say your computer is infected or your account is hacked. Then, they ask for personal info or payment for services you don’t need.
4. Elder Financial Abuse
Sadly, the scammer isn’t always a stranger. Often, it’s a family member, friend, or caregiver. These people may convince seniors to change wills, sign over power of attorney, or lend money they never plan to repay. Over 52% of elder financial abuse cases involve someone the victim knows.
5. Fake Investment Offers
Scammers might offer fake “too-good-to-be-true” investments. They act like financial advisors, promising big returns with little risk. But once you give them money, it’s gone—and so is the scammer.
6. Phishing
Phishing is when a scammer pretends to be from a trusted company and tries to trick you into sharing your personal info. This can happen through emails, texts, or calls. Clicking a link may even download malware that gives them access to your private data.
7. Romance Scams
Loneliness in retirement can make people easy targets. Scammers build fake online relationships on dating sites or social media. Once they gain your trust, they ask for money to help with things like travel or medical bills—but it’s all fake.
8. Sweepstakes or Lottery Scams
You may get a call or email saying you’ve won a prize—but you never entered the contest. Scammers will ask for personal info or a “processing fee” to claim your prize. In reality, there is no prize.
9. Funeral Scams
Scammers read obituaries and go to funerals pretending to be old friends of the deceased. They claim the person owed them money and pressure grieving family members to pay.
10. Reverse Mortgage Scams
Some ads or fliers may offer help accessing your home’s value through a reverse mortgage. While this can be real, scammers use this to steal money or even the title to your home. Always check with a trusted lender before making any decisions.
11. Online Shopping Scams
Buying things online is easy—but risky. Fake websites and sellers can take your money and never send the product. In 2023, online shopping scams were the second most reported scam targeting older adults.
12. Fake Charity Requests
Scammers often pose as charities, especially after natural disasters. They ask for donations and sometimes even steal your identity if you share personal details. Always check if a charity is real before giving.
13. Bank Impersonators
These scammers pretend to be from your bank or credit card company. They might say there’s a problem with your account and ask you to confirm your details. Always hang up and call your bank using the number on the back of your card.
14. AI Voice Scams
New scams involve AI-generated voice cloning. A scammer might call you sounding exactly like a loved one, saying they’re in danger or need money fast. If you get a call like this, try to call the person directly on another number to confirm before doing anything.
As technology advances, scammers are getting smarter and more convincing. Older Americans, especially retirees, are common targets because they may have savings, own homes, or may not be as familiar with new technology. Staying informed, asking questions, and being cautious with personal or financial information can help protect against these scams. Always verify first before trusting any call, message, or email, even if it seems real.
