Impersonation fraud has ballooned since 2020, according to Federal Trade Commission (FTC) data, and older Americans are bearing the brunt.
Reports are now more than four times higher than in 2020, with losses among victims over 60 who lost more than $100,000 rising from $55 million in 2020 to $445 million in 2024.
Criminals prey on urgency, authority and emotion to pry open wallets — often within minutes.
If you know the scripts they use, you can stop the con before it starts.
1. Your bank spotted fraud — act now
Fraudsters spoof caller ID so the screen shows a familiar bank name.
They warn of “suspicious withdrawals” and then ask you to confirm login credentials or move money into a “safe” account. Once you hand over a passcode or wire funds, it is usually gone for good. Zelle and other money-transfer services reimburse only in limited situations.
How to shut it down: hang up and call the number on your card. Real banks never ask for passwords, test transfers or remote access.
2. Law enforcement links you to crimes
A stern voice claims to be from the Social Security Administration, IRS or even a local sheriff.
They say your identity is tied to money laundering or fraud and threaten immediate arrest unless you verify information or pay a “bond.” The FTC logged more than $250 million in losses tied to government-agent scams in 2023, and watchdogs like AARP note a rise in fake “marshal” calls targeting veterans.
How to shut it down: government agencies do not call out of the blue. Hang up, look up the official number and call directly.
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3. Tech support say your computer is infected
Pop-ups or robo-calls warn that your device has been hacked.
The “technician” walks you through installing remote-access software and then searches for financial logins. Microsoft says it receives thousands of such complaints every month. The FBI’s IC3 report shows median losses topping $400 per victim aged 60 and over.
How to shut it down: close the browser or power off your device. Contact the manufacturer or a trusted antivirus provider you choose yourself.
4. A loved one is in urgent danger abroad
Also called the “grandparent scam,” this scheme uses a shaky voice or desperate text like “I was in a wreck in Mexico, the embassy needs money.”
Criminals pull details from social media to make the story believable. The Canadian Anti-Fraud Centre reports that losses nearly doubled in 2024.
How to shut it down: call the relative directly or reach another family member. Do not send money by wire or cryptocurrency until you confirm.
5. You won a prize — but must pay upfront
A caller congratulates you on winning a sweepstakes, often citing Publishers Clearing House or a state lottery.
To release the winnings, you must first cover taxes with gift cards, wire transfers or crypto. The Better Business Bureau says victims over 65 lose a median of $900 in these schemes.
How to shut it down: legitimate sweepstakes never require upfront fees. Verify with the official organization; if payment is demanded first, it is a scam.
Pause, confirm, protect
From fake calls to fake clicks, vigilance wins. Every impersonation hustle relies on panic. Slow the conversation, confirm details on your own and involve a trusted friend if anything feels off. Report attempts at ReportFraud.ftc.gov — your vigilance could prevent another saver from losing their retirement nest egg.
Scammers do not just use phone calls. Many move online, where fake pop-ups, phishing sites and malicious ads can trick you just as quickly. SurfShark (CleanWeb) blocks dangerous ads, trackers and phishing attempts, giving you a safer, smoother browsing experience. Take control of your online security by activating CleanWeb today.
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