How Seniors Can Protect Themselves From Scammers

I talk with a lot of older homeowners across the East Bay and South Bay, and one topic keeps coming up more than almost any other: scams. Not just the old-fashioned kind either. The schemes I'm hearing about now are more convincing than anything I've seen before, and they're built specifically to target seniors.

I want to walk through what these scams look like today, the warning signs to watch for, and some simple habits that can keep you and your savings safe.

Why seniors are targeted

Scammers go after older adults for a few practical reasons. Many seniors have built up real equity in their homes, have retirement savings on hand, and tend to be more trusting when someone claims to represent a bank, a government agency, or a family member in trouble. None of that is a weakness. It's just where you are in life, and unfortunately it makes you a target worth pursuing for people with bad intentions.

The scams making the rounds right now

A few patterns show up again and again these days.

AI voice cloning and "grandparent" calls. Criminals can now clone a loved one's voice from just a few seconds of audio pulled off social media or a voicemail greeting. You may get a call that sounds exactly like your grandchild, panicked and asking for money right away. If this happens, hang up and call that family member directly on a number you already have. Setting up a family "safe word" that only real relatives know is a simple, low-tech way to protect against this.

Tech support and pop-up scams. A pop-up warns that your computer has a virus and gives you a number to call. The person on the other end asks for remote access to your device or payment to "fix" the problem. Legitimate companies do not operate this way. If you see one of these pop-ups, close the browser and do not call the number.

Government and law enforcement impersonation. Someone claims to be from the IRS, Social Security, or the police, insisting you owe money or have a warrant out for your arrest, and that you need to pay immediately with gift cards or a wire transfer. Real government agencies do not call demanding instant payment, and police do not warn you about a warrant over the phone.

Romance and investment scams. These often start on social media or dating sites and slowly build trust over weeks or months before asking for money, frequently framed as a "can't miss" cryptocurrency opportunity. No legitimate investment guarantees fast, risk-free returns.

Reverse mortgage and gold bar schemes. Some scammers convince homeowners that hackers are after their money and talk them into withdrawing savings to buy gold bars, which are then picked up by a "courier" and never seen again. Others push seniors into reverse mortgages with hidden fees or terms that put their home ownership at risk.

Red flags that apply to almost every scam

Whatever form it takes, most scams share the same underlying pressure tactics:

Urgency. You're told you must act right now, before you have time to think it through.
Secrecy. You're asked not to tell family members, your bank, or anyone else.
Unusual payment requests. Gift cards, wire transfers, or cryptocurrency are favorites because they're hard to trace and nearly impossible to get back.
Contact out of nowhere. A call, text, or email you didn't expect, from someone claiming urgent authority over your money or your safety.

If you notice any of these, slow down. A legitimate request can always wait long enough for you to verify it.

Simple habits that make a real difference

Talk about scams openly with your family. Normalizing these conversations means you'll feel comfortable raising a flag the moment something feels off, instead of staying quiet out of embarrassment.
Set a family safe word for emergency calls.
Never give out personal or financial information to someone who contacted you first.
Shred financial documents and mail before throwing them away, and consider a locking mailbox if you write a lot of checks.
Add a trusted contact to your bank accounts so your financial institution can reach someone if they notice unusual activity.
If you're ever unsure, hang up and call the organization back using a number you look up yourself, not one given to you on the call.

If you think you or someone you love may already be a target, reach out to your bank right away, contact Adult Protective Services or local law enforcement, and know that speed matters. The sooner a suspicious transfer is reported, the better the chance of recovering it.

A word of caution about dishonest agents

I'd be doing you a disservice if I didn't mention this last piece, because it hits close to home for my own profession. Seniors looking to downsize, sell a longtime family home, or explore a reverse mortgage are sometimes approached by agents or "specialists" who create false urgency, pressure a quick sale below market value, or steer you toward a buyer offering them a hidden benefit rather than the best outcome for you. A trustworthy agent will always give you time to think, encourage you to loop in family or a trusted advisor, and explain every step in plain language rather than rushing you to sign. If anyone pushes you to make a fast decision about your home, that alone is reason enough to slow down and get a second opinion before you sign anything.

Take care of yourselves out there, and don't hesitate to lean on the people you trust.