What to Do If You Think You've Been Scammed: A Guide for Older Adults
- Jamie Petrie
- Sep 5, 2024
- 3 min read
Scams targeting seniors are on the rise. In 2023, seniors over 60 lost a staggering $3.4 billion to internet scams—more than double the losses of any other age group. If you think you’ve been scammed, don’t panic. Taking quick action is essential, and this guide will help you do just that.
1. Stop Contact Immediately
If you’ve been communicating with a scammer, cut off all contact as soon as you realize something is wrong. Scammers often use fear or urgency to pressure victims into sending more money or personal information. Don’t respond to any calls, texts, or emails from them, even if they persist.
2. Check Your Bank and Credit Statements
Seniors are frequently targeted, and scammers may try to drain your account slowly, so check your recent financial transactions for any unfamiliar charges. If you spot suspicious activity, contact your bank or credit card company right away to report the fraud and freeze your account if necessary.
Tip: Your bank can help prevent further unauthorized transactions by flagging your account or issuing new cards.
3. Change Your Passwords
If you shared personal information like your email or online account passwords, change those passwords immediately. Create strong, unique passwords by using a mix of letters, numbers, and symbols. Avoid using the same password across multiple accounts to increase your security.
Extra Help: Ask a trusted family member or friend if you need assistance changing passwords or creating new ones. You can also use a built-in password manager. It's as simple as the press of a button. Find our tutorial on how to do this for your iPhone, iPad, or Mac here. If you use an Android or have a Google account, find our tutorial here.
4. Report the Scam
Don’t feel embarrassed—scams happen to everyone. In fact, the FBI reported that elder fraud increased by 14% in 2023. Reporting the scam can help prevent others from becoming victims. Depending on the type of scam, here’s where to report it:
Phishing or Tech Support Scams: Federal Trade Commission (reportfraud.ftc.gov).
Online Shopping Scams: Better Business Bureau (BBB) or the shopping platform (e.g., Amazon, eBay).
Romance or Imposter Scams: FBI’s Internet Crime Complaint Center (ic3.gov).
Social Security or Medicare Fraud: Contact the relevant agency directly.
5. Place a Fraud Alert or Freeze on Your Credit
If you’ve given out sensitive information like your Social Security number, it’s wise to put a fraud alert on your credit. This alerts creditors to verify your identity before opening new accounts in your name. You can contact one of the three major credit bureaus—Equifax, Experian, or TransUnion—to set up a fraud alert or even freeze your credit for added protection.
Note: A credit freeze ensures no new accounts can be opened until you lift the freeze.
6. Stay Vigilant
Scammers often target seniors because they believe we may be less familiar with internet safety, yet we make up nearly a quarter of all internet fraud victims. Keep a close watch on your accounts and consider signing up for fraud monitoring services through your bank or credit card company. These services can alert you to any suspicious activity.
7. Get Support
Being scammed is a frustrating and emotional experience, but you don’t have to face it alone. Talk to a trusted family member, friend, or professional about what happened. They can help you report the scam and secure your accounts. Remember, many seniors feel embarrassed to report scams, especially if they’ve lost money, but staying silent could leave you vulnerable to further harm.
In Summary:
Stop contact with the scammer immediately.
Review your finances for unauthorized charges.
Change your passwords to protect your online accounts.
Report the scam to the appropriate authorities.
Place a fraud alert or freeze on your credit.
Stay vigilant to catch any further suspicious activity.
Seek support from loved ones or professionals.
By following these steps, you can take back control, protect your finances, and prevent future scams. Remember: it’s never too late to take action! Stay safe and share your experience with others—you might just help someone else avoid falling victim.