My adult children keep warning me about scams, but it is hard to know which calls and messages are dangerous. What scams should I be aware of?

Financial fraud is a massive and rapidly growing problem for older Americans. In 2024, scams cost older adults an estimated $81.5 billion, according to the Federal Trade Commission. That staggering figure includes both reported losses and the many crimes that are likely to go unreported.

While many scams today target people of all ages, older adults are often singled out or suffer the greatest financial harm. From urgent phone calls and alarming emails to online romance schemes and bogus investment opportunities, scammers often rely on high-pressure tactics, fear and emotional manipulation to persuade seniors to surrender money or sensitive personal information. Therefore, knowing the most common scams is the first line of defense. Here is a list of scams seniors should watch for:

Imposter and government scams: Fraudsters pretend to be from Social Security, Medicare, the Internal Revenue Service (IRS), the police, banks or utility companies. Fraudsters claim there is a problem requiring immediate payment or personal information and may threaten arrest or loss of benefits.

Tech support scams: Calls, emails or pop-ups may warn that your computer has a virus. The scammer then offers to “fix” the issue but instead uses the opportunity to gain access to the device or steal money and personal information.

Family emergency scams: Callers pose as a relative, often a grandchild, in distress and urgently request money. Some even use artificial intelligence to mimic a loved one’s voice.

Investment scams: Offers for “too good to be true” investments, including cryptocurrency or high-yield retirement schemes. Fraudsters often promise large or guaranteed returns but lead to significant financial losses.

Romance scams: Scammers build fake online relationships on social media, dating sites and other interactive platforms, then invent emergencies or investment opportunities to request money.

Medicare scams: Scammers may place calls or send text messages posing as Medicare representatives, asking you to verify your number, offering special plans or warning of suspected fraud. Medicare will not contact you via phone call or text message.

Sweepstakes and lottery scams: You are told you have won a prize but must pay fees or taxes to claim the prize. Legitimate lotteries never require payment.

Charity scams: Scammers call or email, asking for donations to fake charities, often after disasters. Always verify before giving.

Phishing and online fraud: Emails, texts and pop-ups that appear to come from banks, Amazon or PayPal may be attempts to steal passwords, account numbers or trick recipients into clicking harmful links.

Employment scams: Seniors seeking part-time work or ways to supplement their retirement should watch out for fraudulent job offers on online job platforms. Scammers may advertise easy income or work-from-home opportunities but then demand upfront fees, ask for personal information or involve the senior in possibly illegal tasks like package reshipping. Always verify the legitimacy of employers and never pay to apply for a job.

How to Protect Yourself

Awareness and caution are your strongest defenses against scams. Take a moment to pause when a call, email or text urges you to act immediately. That sense of urgency is a red flag. Avoid clicking suspicious links, hang up on questionable calls and verify any request by calling the organization directly using a number you look up and verify yourself. You should also tell a trusted friend or family member.

Never send money using gift cards, wire transfers or cryptocurrency. Legitimate organizations will not ask for payment this way. Stay informed through trusted resources like the AARP Fraud Watch Network (aarp.org/fraudwatchnetwork), the National Cybersecurity Center (nationalcybersecuritycenter.org) and the Federal Trade Commission (consumer.ftc.gov).

Protect your accounts by setting up bank alerts, regularly checking your credit reports and using strong, unique passwords. Some seniors also find it helpful to have a trusted friend or family member or financial advisor review unusual account activity. Report any suspicious calls, messages or offers at reportfraud.ftc.gov.

Fraudsters are constantly evolving their tactics, so it is important to continuously remain vigilant. Being informed, cautious and deliberate can greatly reduce your risk of fraud and provide you and your family peace of mind.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.