Scammers are getting more creative and, unfortunately, older adults are often a top target. In recognition of National Senior Fraud Awareness Day this month, we are breaking down some of the most common scams targeting seniors so you can feel confident spotting the warning signs and protecting what matters most.
According to the FBI (opens in a new tab), older Americans lose billions of dollars to fraud each year. But here’s the good news: a little awareness goes a long way, and you don’t have to navigate it alone.
The Most Common Scams to Watch For
Imposter Scams
As some of the most common types of scams out there, imposter scams usually start with someone pretending to be from a place you trust like a government agency, your financial institution or even a utility company. They may say there’s a problem with your account or that you owe money and need to act fast. The urgency? That’s usually the tactic.
Friendly reminder: Members 1st will never contact you unexpectedly to ask for sensitive information like your digital banking credentials, one-time passcode or credit/debit card CVV number.
Grandparent Scams
This type of fraud is especially emotional. Typically, someone calls pretending to be a grandchild (or someone helping them), saying they’re in trouble and need money right away. They might even ask you to keep it a secret.
Scammers are even using technology to make their stories sound more convincing than ever.
What to do: Pause and call your family member directly using a number you already have saved.
Tech Support Scams
You might get a pop-up, phone call or email saying your computer has a virus. From there, the scammer may offer to “fix it,” but what they are really trying to do is gain access to your device or personal information—or pressure you to pay or move money. They may tell you to withdraw cash or transfer funds to a “safe” account or virtual wallet to protect it.
Good to know: Legitimate companies like Members 1st won’t reach out to you unexpectedly to fix your device or ask for remote access.
Sweepstakes & Lottery Scams
This one can sound exciting at first because you are usually told you have won a prize. But, before you can claim it, you’re asked to pay fees or taxes. Unfortunately, there is no prize waiting once those are paid.
Simple rule: If you must pay to receive winnings, it’s most likely a scam.
Phishing Scams (Email & Text)
These scams show up as emails or texts that look like they’re from companies you recognize, including financial institutions. They may ask you to click a link or “verify” your information, but those links often lead to fake websites designed to steal your information.
Quick tip: Instead of clicking a link, go directly to the company’s official website or use the mobile app to log in securely.
Why Scammers Target Seniors
Scammers look for opportunities, and they often assume older adults are more trusting or less familiar with evolving technology. They also count on people feeling embarrassed or unsure about reporting fraud. But here’s the truth: this can happen to anyone, and speaking up quickly can make a big difference in protecting your accounts.
Simple Ways to Stay Protected
Protecting yourself doesn’t have to be complicated. A few small habits can go a long way:
Take your time. You never need to act immediately.
Verify the source. Use a trusted phone number, such as one listed on the company’s official website.
Keep personal information private unless you initiate the conversation.
Be cautious with payment requests, especially gift cards or wire transfers.
Use tools like account alerts and digital banking to monitor activity in real time. activity in real time.
Built-In Protection with Members 1st
Keeping your money safe is a top priority at Members 1st, and we’ve built in tools to help you stay one step ahead:
Account monitoring to help detect unusual activity.
Fraud alerts and notifications so you can act quickly.
Secure digital banking to safely manage your accounts anytime.
A Cybersecurity Awareness Checklist with practical steps to protect yourself.
Local support you can trust whether you prefer to chat online, call or stop by a branch.
If something doesn’t feel right, trust your instincts. We are always here to take a second look with you—no pressure, no judgment.
