April 2026 - Stay Vigilant: Scam Tips to Keep You Safe

Physical crimes against older adults are rare. Financial Crimes are not. 

This edition of Scam of the Month comes from a March 12, 2026 article in the Wall Street Journal. 

While the abduction of Nancy Gutherie, the 84-year-old mother of news anchor Savannah Guthrie, made many older people feel vulnerable, a far bigger threat is having someone wipe out your savings. 

Scammers will, of course, try to scam anyone, regardless of age. But older adults are prime targets because they often have accumulated wealth and live alone, and they are assumed to be vulnerable. 

More than 147,000 people age 60 and older reported scams in 2024, with losses of $4.9 billion - both up more than 40% from the year earlier, the FBI says. The majority of frauds aren't reported because of shame and fear, making the actual numbers far higher.

"There is not a family out there who has not, or will not, encounter some form of financial abuse," says Julie Schoen, past director of the National Center on Elder Abuse. 

Sherlea Dony, 75, lost $135,000 of retirement savings and blames herself for not being mindful. She received an email asking whether she authorized a $900 purchase on her PayPal debit card. It directed her to call the number provided if she hadn't. 

"I should have known better, picked up my debit card and called the number listed there," says Dony. Instead, she called the number in the email. "David White" answered, saying he worked in the PayPal legal department and that a criminal ring in Texas had obtained Dony's personal information, including her Social Security Number, and had access to her retirement account. 

He advised her to transfer her money which he said had federal protection. Over several days, White guided her as she cashed out her stocks, bonds and certificates of deposit despite warnings from her bank and financial advisor. "I was so certain it was real," says Dony.

As directed, Dony put the cash in boxes and gave them to couriers who came to her apartment. When the last delivery was made, she called White. The number was disconnected. That was when the enormity of what she had lost hit her. 

"I consider myself intelligent," says Dony, who worked for 50 years as an American Sign Language interpreter. "I don't know why I was so clueless."

Impersonators like White are common. Scammers will pose as grandchildren, police officers, bank staff and Medicare employees. In some cases, they use artificial intelligence to clone voices. 

Scammers promise to fix your computer, make you rich, and safeguard your hard-earned money. Here are some ways to safeguard yourself or an older relative. 

Set boundaries.

People should set limits on financial transfers with their banks, brokerages and other firms. They should also direct all unknown callers to voicemail and make sure antivirus and security software are up to date.

Teaching people how to avoid scams is helpful, but preventive mechanisms need to be in place, especially given AI tools scammers are using, says Marie-Therese Connolly who is author of "The Measure of our Age" and helped draft the Elder Justice Act.

Automatic protections - temporary holds on suspicious withdrawals or those over an agreed-upon amount - and fraud alerts should be widely available. Designating a trusted contact on financial accounts to reach in case of suspected exploitation adds another layer of security.

Stop and think.

One of the most effective anti-scam strategies is to resist the urge to act quickly, which can be one of the scammers' most effective tools. Pressure to act "before something bad happens" can cause people to shut down further critical thinking. 

"Slow down. There is no harm in hanging up and calling a number you verify yourself," says Jessica Johnson, senior director of the National Council on Aging for Economic Well-Being. 

Anyone can make a poor decision, especially under duress. 

Take action.

Quickly reporting fraud to police can sometimes stop a scam before money is lost. Roger Loeffler, a widower in his 90s, checked his account balances daily and noticed they were lower than expected. He called his son, Keith, who arrived shortly after. 

Police were called. Keith suspects his dad, who lived in a continuing care community, threw away a check that had banking and routing numbers. 

A man, who was later arrested on forgery charges, created and cashed three phony checks using his dad's account information. By then, the bank had stopped paying on his dad's checking account, so the senior Loeffler didn't lose any money. 

"I always worried about him clicking on the wrong thing," says Keith, who's dad has since passed away. "I never worried about checks in the garbage can."

Scammers have also been known to steal checks that are being mailed, which is why experts recommend taking checks you are mailing directly to the post office, or paying online if possible.