How Scammers Are Targeting Older Adults With Tech-Powered Scams
By: JPMorganChase
For many of us, it’s hard to keep up with the latest technology. However, scammers seem to be ahead of the curve. Even the most tech savvy seniors might be fooled by the new high-tech tactics scammers are using.
According to the FBI, individuals 60 and older lost nearly $4.9 billion to scams in 2024. Among the most popular scams reported were fake tech support messages, personal data breaches and delivery scams.
Scammers dupe victims into sending money or sharing personal information by creating a sense of urgency or threatening extreme consequences. The use of advanced technologies, like GenAI, has made these tactics even more convincing and difficult to spot as scammers easily create fake images, spoof phone numbers and even clone voices.
This Elder Abuse Awareness Month, Chase’s Fort Wayne Community Manager Sheila Anderson has tips to help keep you and your loved ones safe.
• Avoid answering calls and texts from unknown numbers. If it’s someone you know, they’ll likely leave a message. If it's a fraud attempt and you answer, you could be asked to provide sensitive information for various fake reasons that may be hard to spot. Also, avoid responding to text messages from unknown numbers or clicking on links.
• Don’t rely on caller ID alone. Consider adding a call protector app to your phone to flag calls that are likely scams. You can attempt to verify callers’ identity by calling them back on a phone number you know to be theirs.
• Never share personal information over the internet. Even if someone claims to be a representative from your bank or government agency, be suspicious of any messages you receive.
• Don’t fall for threats. No legitimate institution will threaten to disconnect services or urge you to send money to prevent fraud or gain access to your accounts.
• Report it. If you feel you’ve been scammed, contact your bank to discuss how to best protect your information and verify recent transactions to ensure there’s no fraudulent activity on your account. You should also report it to the FTC at reportfraud.ftc.gov.
• Use free resources available to you. Chase Credit Journey offers free credit and identity monitoring, including alerts to let you know if your personal information is exposed in a data breach or on the dark web. You don’t have to be a Chase customer to use it. For more information on how to protect your money as you age, visit chase.com/financialabuse.