Some common financial scams that target the elderly include fake IRS calls, lottery scams, grandparent scams, romance scams, and tech support scams.

Scammers often target the elderly through phone calls, emails, social media, and even in person. They use various tactics to gain the trust of their victims, such as pretending to be a loved one in need or a government official.

Some warning signs include sudden large withdrawals from their bank account, receiving an abundance of unsolicited phone calls or mail, and becoming secretive about their financial affairs.

We can protect the elderly by educating them about common scams, encouraging them to be skeptical of unsolicited offers, monitoring their financial accounts for any suspicious activity, and setting up protections such as fraud alerts.