By the time they turn 65, many people hope to be retired and well-settled, living off of a retirement fund, which they have spent decades building. In the past, it was a health emergency or natural disaster that could wipe out a savings account. Now, all it takes is a suspicious phone call or a fraudulent email requesting money and a lifetime’s work is drained down the sink.
“Older people generally have more money because by the time you are considered elderly, scammers know to target retirement savings and 401(k)’s,” said Jon Tran, a senior associate of the Chertoff Group, a consultancy group that helps companies strengthen their security and risk management.
If electronic communications helped fraudsters, AI has supercharged their ability. Due to developments of different AI models that allow voice cloning or deep fakes, phone number spoofing, and fake social media personas, fraud has become more advanced than it used to be. As a result, it is much easier for scammers to take advantage of the elderly, particularly if they are not as familiar with these new technologies.
“With AI becoming so much more advanced, it’s easier to scam the elderly because it’s technology they aren’t familiar with,” Tran said. “By using these platforms, [the scammers] can make phone calls from someone that elderly people trust like family and friends, because they know that they have no reason to question these people if they need money, because they are loved ones.”
New technology isn’t the only reason scams succeed; a key factor is the fact that these schemes rely on basic human psychology.
“Scammers deliberately exploit [seniors] when they show obvious signs of loneliness and grief. They look for moments when people are most vulnerable and choose that moment to pounce,” said Cynthia Deitle, a former FBI agent who now focuses on fraud and scams at Meta, the parent company of Facebook and Instagram.
Even if they are initially reluctant to send funds to strangers, a tactic that many scammers use is taking time to build relationships with their victims, gaining their trust before eventually asking for money. Scammers know that most people in this stage of their life often have smaller social circles and may be dealing with loss, making them more likely to respond to someone offering them company and support.
“A lot of seniors just want someone to talk to, and scammers take advantage of that social isolation,” Tran said.
Another factor that contributes to the success of these scams is how quickly scammers can create a false sense of urgency that motivates seniors to send them money as fast as possible. Victims are often told that immediate action is required, leaving little time for them to verify the situation and then causing them to make very impulsive decisions.
“Scammers create this feeling because they don’t want [seniors] to have time to think critically or double check the situation,” Tran said. “They want people to act out of fear and not necessarily logic.”
Even though scams are becoming more advanced and harder for elderly people to detect, there are still many practical ways to protect seniors from becoming victims. Simple steps, including verifying unknown calls, avoiding sharing personal information online, and consulting with a trusted family member before sending money, can make a significant difference.
“When you get a text message or a phone call, slow down,” said Zile Javaid, a Public Affairs Bureau police officer of the Fairfax County Police Department. “If they’re asking for something financial or something personal, that’s not right, and they should hang up and report it immediately.”
Family and friends’ involvement can also make a significant difference in protecting elderly individuals from scams, because when family members maintain regular communication and stay involved in their lives, it becomes easier to notice suspicious activity and step in before serious harm is done.
“The more people who are aware of the situation, the better the chances of stopping it early,” Deitle said.
As scams continue to evolve alongside new technology, protecting seniors will require a combination of awareness, communication and vigilance. While scammers are becoming more sophisticated, their success still depends on exploiting moments of confusion or fear, when someone’s guard is down. By helping seniors stay informed and by maintaining a strong connection with family and community, they will be able to better recognize warning signs of a scam and avoid becoming victims.
“Scam operators will fail their mission without victims,” Deitle said. “If we teach people how to identify scams and stay alert, we can stop them before they succeed.”
