Elder Fraud Is Soaring, but You Can Protect Yourself
Romance scams. Grandparent scams. Investment scams. Imposter scams. Tech support scams. Health care scams. Online shopping scams. Charity scams. It is no secret that older adults are prime targets.
Citing FBI figures, an opinion piece by an anti-scam researcher in the Washington Post reported that adults age 60 and older lost $7.7 billion to scammers in 2025 – and that loss was almost eight times the amount they lost in 2020. Moreover, older adults are less likely to report scams than younger people, due to embarrassment and other reasons, so the numbers may be much higher.
Elder fraud, in other words, is skyrocketing. Individual losses often rise into the tens of thousands of dollars, reducing people’s life savings or wiping them out altogether. The FBI has the legal ability to freeze about half of the money that a scammer has captured, according to the Washington Post, but only if the victim reports the fraud promptly and before the money disappears. In 2025, only 642 such complaints reached the FBI in time to impose a freeze, out of more than 200,000 potential cases, the Washington Post reported.
Fortunately, there are things we can do to protect ourselves. According to the FBI, certain “red flags” can warn potential victims that a fraudster is trying to get hold of their money. These warning signs include demands that individuals keep secret the communication they are having with the stranger; that they act quickly to provide the requested payment; that they risk arrest if they fail to follow instructions; and that they pay with a wire transfer or gift card. For all these reasons, consumers should delete unexpected requests for money or personal information. “The best way to avoid scams is to ignore unsolicited communications, especially calls from unknown numbers,” said FBI Special Agent Ron Miller. “The longer scammers talk to victims, the more successful they are with the scam.”
…A Surge in Gold Bar Scams Is the Latest Example
A sophisticated scam that targets seniors has led to more than $100 million in losses in the last two years alone, with unsuspecting victims wiping out their savings by buying gold bars they give to fake government couriers. The scam starts simply on personal computers, with an alert popping up to warn users that cybercriminals have attacked them.
Too many older adults then click on the phony alert, sent by fraudsters who claim they are law enforcement officials. Victims allow scammers access to their computers, where they capture confidential financial information. The fraud ends when the criminals instruct victims that the only way to keep their money safe is to withdraw it and buy gold bars instead. A scammer posing as a courier then comes to their house to pick up the gold – supposedly for safekeeping.
The scam has fooled so many people that the New York State Attorney General issued a warning in August, revealing that the New York City Police Department had investigated more than 100 cases in the past two years, with losses over $100 million. “Targeting older adults with seemingly legitimate claims that their life savings are in immediate danger is flat-out cruel,” New York State Attorney General Letitia James said. “Seniors deserve to live comfortably without fear of losing their hard-earned savings to a manipulative scam.’’
This elder fraud ploy has been reported in multiple states. In July, an 85-year-old man in Washington, D.C. tried to buy $200,000 in gold bars to give to scammers, but a gold dealer recognized the fraud and called police, according to a television news report. Two men were arrested when they came to the man’s house to collect the bars. In March, the US Attorney’s Office in the Eastern District of Missouri announced the arrests of three men who had posed as couriers, stealing more than $8 million from elderly victims who had cashed out their savings for gold. The investigators traced the scammers to call centers in India.
New York’s Attorney General advises seniors never to call phone numbers in alerts that come via a pop-up, text or email. She also said don’t give strangers, even those who say they are with your bank, remote access to your computer. If someone claims your bank account has an issue, hang up and call your bank with the phone number printed on your bank statement. Don’t move money out of your account and give it to anyone. “Remember, a scam is effective because the scammer creates a false sense of urgency, pressuring the victim into life-altering decisions on the spot and swearing them to secrecy,” James said in her press release. “The best way to combat this is to hang up and contact someone you trust and let them know your situation.”
Cruise Scams Send Joyful Travel Plans Overboard
Ocean breezes on a cruise ship beckon millions of vacationers each year, perhaps never more enticingly than in the sultry days of summer. It should come as no surprise, then, that scammers are finding ways to profit.
Deck view of cruise ship and sunsetAn assortment of cruise-related scams is increasingly bringing turbulence to seaborne holidays. Cruise scams “can ruin the journey, end it before it starts, or make the cost far more than anyone could imagine,” cautioned Ned S. Levi, a columnist with Travelers United, a nonprofit advocate for travelers. More than 38 million travelers are projected to take cruises in 2026, according to AARP, creating a growing target for criminals who dream up many ways to take advantage.
Experts say that scams to watch out for include:
“Free” cruises that aren’t. Maybe you weren’t even planning to take a vacation. Then you receive a text message or email or phone call offering a “free” cruise if you consent to taking a survey or filling out some sort of consumer form. Suddenly, the prospect of a cruise sounds enticing. The problem is that the scammer will charge you various fees that make the cruise anything but free. According to AARP, such fees may include taxes you didn’t expect, and the charges typically must be paid instantly.
Phony port excursions. Experienced travelers know that part of the fun and adventure of a cruise may be land-based trips when the ship is in a port. Such excursions are a legitimate business. Unfortunately, many of the companies that advertise land tours online are crooked. The information a traveler provides to book such a trip, such as credit card numbers, may be used in identity theft, cautions Levi of Travelers United. When arranging a tour through a third party, make sure you are dealing with “a major, reputable, well-known excursion booking agency.”
Trips that do not exist. It may seem obvious, but travelers should take basic steps to confirm that they are dealing with a legitimate cruise provider, because there are scams that collect payment for trips that simply don’t exist. Unscrupulous operators may cook up various excuses to prevent you from settling on a date, experts say. These may include supposed weather problems, mechanical issues, and scheduling restrictions. “In one recent case, several Americans – one of whom sold her house to pay for her ticket – found that the company they bought their three-year cruise from had no ship available,” AARP reported.
Fortunately, there are several commonsense steps travelers can take to keep their cruise plans from running aground or sinking altogether. According to AARP, travelers can protect themselves by:
- Booking a cruise directly through the company’s official website, which will bypass uncertainties that may come with some third-party bookers. This also will safeguard against the dangers of dealing with fraudsters who create fake websites that unwitting travelers may find online.
- Confirming that you are dealing with a legitimate company. A useful step is to make sure they are members of professional associations, such as the American Society of Travel Advisors or the United States Tour Operators Association.
- Paying close attention to certain details. These include all fees and taxes, whether your ticket is transferable, and if it retains any value if you have to cancel. AARP further advises confirming your booking with the cruise line, and paying with a credit card, which may offer some protection if you end up in a conflict over cost.
