Protecting the people we care about includes helping them safeguard their financial wellbeing. The pace of changing technology can make fraud especially confusing for our older family members. Throughout 2025, adults aged 60 and over lost an estimated $3 billion across all scam types. This group most commonly lost money to tech support scams, lottery scams, and a variety of imposter scams, according to the Federal Trade Commission.

As a family member, friend, or neighbor, you are in a special position to offer additional care to these loved ones. During the holiday season – when scam attempts may be more common – having a caring conversation with parents and grandparents can go a long way to having a positive impact on their decisions.

WHY OUR OLDER FAMILY MEMBERS MAY NEED OUR HELP

Fraudsters often look for opportunities to create urgency, confusion, or fear, hoping that a person will act quickly before checking whether a request is real. Changes in cognition, memory, or social isolation may make older adults more susceptible to financial scams.

Technology can add another layer of difficulty. New apps, online shopping tools, payment methods, and communication channels can be useful, but they are constantly evolving and may create unfamiliar situations. Fraudsters will use caller ID spoofing, voice replication, or website cloning to try to confuse potential victims – those unaware of these possibilities may be at a bigger risk.

By the time many individuals reach retirement age, they often have a large sum of money across savings accounts, investments, or retirement accounts. Access to these funds makes them a bigger target for financial fraudsters looking to trick people out of their money. Becoming a victim of fraud hurts at any age, but it can be especially difficult for those of us with limited ability to replenish the money that has been lost.

LEAD WITH RESPECT

Fraud prevention conversations should be supportive – not controlling. Our family members deserve to remain involved in their financial decisions, and discussions about financial safety can give them the opportunity to do so securely.

Consider making fraud prevention a regular family topic instead of raising it only after a concern arises. Share an example of a suspicious text or unexpected call you received, and explain how you handled it. Discuss a story you heard on the news and the impact it had on victims.

BUILDING A SUPPORTIVE PLAN FOR FRAUD PREVENTION

Discuss the Signs of Fraud Attempts

Fraud attempts can take many forms, but they often rely on the same tactics. Family members should watch out for urgent claims that immediate action is required, their account is in danger, or requests to keep the interaction secret.

Encourage them to pause when a request involves money or personal information – it’s always okay to end the discussion and check-in with a trusted family member. Legitimate businesses won’t pressure you into sharing information or prevent you from asking questions. Watch out for:

  • Unexpected requests for account numbers, passwords, verification codes, or other personal information, even if it appears to be from a trustworthy source. Chaffey FCU will never ask you to share your personal, account, or online banking information.
  • Pressure to send money quickly, even if it comes from someone claiming to be a friend or another family member.
  • Messages with unfamiliar links, attachments, spelling errors, or unusual sender addresses.
  • Requests to buy gift cards, send cash, or move money to a new account.
  • Instructions not to tell a trusted family member, friend, or financial institution.

Build a “Pause and Check” Routine

Routines can help someone take calculated steps in the event they are overwhelmed or stressed by a situation. Taking a moment before responding can reduce the pressure fraudsters try to create. Implement a routine for family members to use when faced with something that may not feel right: pause and check with someone they trust.

Emphasize to your loved ones that they never need to make financial decisions through an unexpected interaction or with someone pressuring them. Instead, pause and step away from the conversation, then reach out to someone they trust: the phone number of the company from their official website, or the saved contact information of a family member.

Make New Technology Manageable

Technology may be a difficult topic to discuss with family members who grew up without access to the resources we have now. Having conversations about technology doesn’t have to be complicated. Focusing on practical habits to use at all times – recognizing unfamiliar messages, avoiding unknown links, and keeping passwords unique and in a secure place – can provide helpful standards.

It may also be helpful to talk through common scam methods before a busy holiday period, such as company imposters, shipping notifications, charitable giving, or digital greetings.

  • Receiving messages on social media from someone posing as an “old friend” from school, who then tries to re-establish friendship and borrow money from you
  • Calls from someone posing as the “fraud department” at a financial institution who then asks personal and private information about your banking
  • Receiving an unknown or unexpected link (often someone posing as a technology company to “verify” their device, or a shipping service to “confirm their order”)
  • Requests from someone posing as a charity asking for funds 

Reach Out to a Trustworthy Family Member or Representative

Families can work together to identify whom an older loved one may contact if they are unsure about a request. This could be a family member, a trusted friend, or a financial institution. Your family can also incorporate a “code word” to use in the event you are suspicious of caller ID spoofing. Only your family should recognize this work or phrase so you can confirm you are speaking with a trusted source, even if you aren’t face to face. Keep the focus on support and independence. Encourage your loved ones to check in about unfamiliar financial decisions, online purchases, or requests for personal information.

Money Smart for Older Adults from the Consumer Financial Protection Bureau offers resources to protect older family members from financial fraud and exploitation. Their guides can help you navigate a variety of financial topics from elder abuse to caregivers.

If an older family member believes they may have shared information or sent money in response to a scam, encourage them not to blame themselves. Fraudsters are skilled at making their messages appear convincing and urgent. Contact a Chaffey FCU representative to take the next step in protecting your accounts and reporting the situation to the appropriate parties to prevent further fraud from taking place.

A SMALL CONVERSATION TODAY CAN ESTABLISH PROTECTION IN THE FUTURE

Fraud prevention begins with awareness, patience, and open communication. By helping older parents, grandparents, relatives, friends, and neighbors recognize warning signs and feel comfortable asking questions, you can become an advocate for them during the holidays and throughout the year.

Check in with an older loved one today and remind them: when a request feels urgent or unfamiliar, it is always okay to pause and verify with someone they trust.