Scammers know who to target. If you’re 55 or older, you’re more likely to hold steady savings, own a home, and answer the phone — and that makes you a target. Below are the most top fraud types aimed at older adults, how they work in real-life terms, and a clear, step-by-step plan to prevent, spot, and recover from them.
Identity theft
How it shows up: Someone opens accounts, applies for credit, or files fake tax returns using your name, Social Security number, or other personal details.
Red flags: Mail disappearing, unexpected credit accounts, calls about new accounts, and bills you didn’t get.
Prevent & respond — step by step
Immediately review your bank and credit-card statements monthly.
Put a fraud alert on your credit report and consider a credit freeze (translates to lenders needing extra steps to verify identity).
Order copies of your credit reports at least once a year and after any suspicious activity.
If you find unauthorized accounts, contact the company, close the account, and get confirmation in writing.
Change passwords for financial and email accounts. Use long passphrases and enable two-factor authentication.
Report identity theft to the proper agency in your country (in the U.S. use the FTC’s identity theft reporting tool) and keep a record of your report.
Keep a log of calls/emails and save all suspicious messages and bills as evidence.
Impostor / government-agency scams
How it shows up: Someone calls, emails, or sends urgent texts claiming to be Social Security, Medicare, the IRS, the bank, or even the local police. They threaten arrest, demand payment, or ask for private info.
Red flags: Pressure to pay immediately (wire transfer, gift cards, or cryptocurrency), the caller refuses to give official contact info, caller asks for the full SSN or bank login.
Prevent & respond — step by step
If a caller claims to be from an agency and is pressuring you, hang up. (Don’t argue.)
Look up the agency’s official phone number yourself (from your bill, official mail, or the agency’s official website) and call back. Scammers can “spoof” numbers to look official.
Never give your Social Security number, Medicare number, bank login, or one-time codes to anyone who initiated contact.
If you sent money, contact your bank immediately and file a report — many wire/gift card payments are unrecoverable but the bank can try.
Report the call to the agency being impersonated and to consumer protection bodies (local police, state attorney general, consumer protection office).
Online marketplace
How it shows up: A pop-up or caller says your computer has a virus and they can fix it (they get remote access). Online marketplace scams occur when you buy or sell and the buyer/seller disappears after paying outside the platform or sending fake payment confirmation.
Red flags: Unsolicited tech support calls/popups, requests for remote access, payment asks outside secure platforms, deals that seem “too good.”
Prevent & respond — step by step
Never allow remote access unless you personally hired a known, reputable tech. If you’re unsure, power off and call a trusted local technician.
For online buying/selling, use the platform’s official payment methods and escrow tools. Avoid wiring money or accepting checks that overpay.
Inspect seller/buyer profiles and read reviews. Communicate inside the platform, not via outside email or text.
If you suspect fraud after a remote session, disconnect the internet, run antivirus scans, and change passwords from a different, secure device.
Save any messages, receipts, screenshots, and transaction IDs — they’ll help investigators.
Investment, sweepstakes, lottery, and romance scams
How it shows up: “Guaranteed” investment returns, urgent brokerage moves, or someone you met online who says they love you and later needs money “for an emergency” or to claim a prize that requires fees.
Red flags: Pressure to act now, requests for secrecy, requests for payment through gift cards or wire transfers, promises that sound too good to be true.
Prevent & respond — step by step
Always verify investment offers with an independent, licensed financial advisor. Look up adviser registration (in the U.S., use FINRA/SEC lookups).
Never pay fees to claim a prize. Legitimate lotteries do not ask for payment to release winnings.
For online relationships: never send money, share financial details, or move conversations off reputable platforms until you’ve validated the person’s identity.
If you lost money, collect all messages and transaction records and report to law enforcement and financial institutions immediately.
Talk to a trusted family member or friend before making big financial decisions someone urges you to make.
Funeral, healthcare, and insurance/Medicare-related scams
How it shows up: Fraudsters posing as funeral directors, healthcare providers, or insurance agents trying to get prepayment, personal details, or Medicare numbers.
Red flags: Unsolicited calls about changes to Medicare/insurance, requests for payment to secure a funeral arrangement, or billing for services you didn’t receive.
Prevent & respond — step by step
Ask for written estimates and official business identification. Take time — do not pay on the spot.
Verify insurance or Medicare changes directly with your insurer using a phone number from your policy or official mail.
Keep an itemized file of medical bills and check explanation-of-benefits statements carefully.
If you find suspicious healthcare charges, notify the provider, your insurer, and the agency that handles Medicare fraud in your country.
For funeral services: compare quotes, ask for references, and don’t pay large deposits without contract terms in writing.
Recovery Checklist
Stop all communication with the scammer.
Contact your bank/credit card company and ask to block or reverse transactions.
Place fraud alerts and consider a credit freeze.
Change passwords and enable two-factor authentication.
File reports with your local police and consumer protection agencies. (Keep copies.)
Notify family/trusted contacts and, if identity theft occurred, the agency that handles identity theft in your country.
Seek help from local senior services or nonprofit groups that assist victims of scams.
Sample lines to use when you’re unsure
“I don’t share personal info over the phone. Please send me something in writing, and I’ll call the official number on my statement.”
“I need to check this with my family/financial advisor. I’ll call you back.”
“I’ll call your office number listed on the official website.”
These short scripts buy time and force scammers to lose momentum.
With care,
Mike Bridges
Founder, The O55 Report