Scammers have gotten a lot better at making themselves look legitimate. A strange email filled with spelling mistakes is one thing, but a text that looks like it came from your bank or a phone call from someone who sounds like your grandchild can be much harder to question in the moment.
Older adults are often a major target. Scammers may go after retirement savings and other assets. They also use fear, trust, and urgency to get someone to act before they have a chance to think things through.
Here are 12 scams worth knowing about, along with warning signs that should make you stop and take a closer look.
The Grandparent Scam
Imagine getting a call from your grandchild saying they’ve been arrested, hurt in an accident or stranded somewhere and desperately need money.
If they tell you not to call their parents, want money immediately or ask you to pay with gift cards, cryptocurrency or a wire transfer, hang up and call your grandchild yourself.
Fake Charities
After a hurricane, wildfire or other tragedy, scammers know people are looking for ways to help and may call or message pretending to represent a legitimate charity. Don’t donate through a random link or give money because someone is pressuring you on the phone; look up the organization yourself and donate directly if you still want to help.
Related: This Charity Will Pick Up Your Unwanted Items for Free
Medicare and Health Insurance Scams
Someone calls saying they’re from Medicare and just needs to “verify” your information before sending free medical equipment or helping you qualify for a new benefit. That’s a good reason to stop the conversation, especially if they’re asking for your Medicare number, Social Security number or banking information.
Bank, Government and Phishing Scams
A text, email, or phone call may look like it’s coming from your bank, Social Security, or another trusted organization, usually claiming there’s a problem with your account that needs to be fixed right away.
Instead of clicking a link or giving the caller personal information, contact the bank or agency yourself using the official website or a phone number you already trust.
Home Repair Scams
Someone knocks on the door and conveniently notices that your roof, driveway or another part of the house needs an expensive repair that they can take care of today.
Be wary of anyone who shows up unexpectedly, wants a large deposit or suddenly makes the problem sound so urgent that you don’t have time to get another estimate.
Related: Tariffs and Inflation Are Driving Up Home Repair Costs—and It’s Putting Pressure on Homeowners
Investment Scams
A “can’t miss” investment opportunity can sound pretty convincing when the person talking about it seems knowledgeable and throws around plenty of financial terms. Promises of unusually high returns, little or no risk and pressure to invest before the opportunity disappears are all reasons to slow down and do some research first.
Lottery and Prize Scams
Getting a call saying you’ve won thousands of dollars sounds exciting until you’re told you need to pay taxes, shipping or a processing fee before they’ll release your winnings. You shouldn’t have to buy gift cards, send cryptocurrency or wire someone money to collect a legitimate prize, especially from a contest you don’t remember entering.
Romance Scams
These can be especially difficult to spot because the scammer may spend weeks or even months talking to someone and building what feels like a real relationship. Then comes the emergency and the request for money, often while there’s still some reason you can’t meet in person.
Tech Support Scams
A scary pop-up suddenly says your computer has been infected and conveniently provides a number to call for help, or someone calls claiming to be from a major technology company.
Don’t give an unexpected caller remote access to your computer or hand over passwords and payment information just because they say something is wrong with your device.
Gift Card Scams
Anytime someone says you need to go to a store, buy gift cards and read the numbers over the phone, something is wrong. A legitimate bank, utility company, or government agency isn’t going to ask you to settle a bill, pay a fine, or fix an emergency with a stack of gift cards.
Debt Relief and Loan Scams
When money is already tight, an offer promising to wipe away debt or dramatically lower your monthly payments can be hard to ignore. Be wary of companies that guarantee results or demand a large upfront fee before you’ve received any real help.
Pyramid and Recruitment Schemes
The pitch usually sounds simple: buy into a business, bring in a few other people and start earning extra money from home. Take a closer look if most of the money depends on recruiting more people, or if you’re expected to keep paying fees and buying large amounts of inventory.
