FRAUD: Scams Targeting Elderly
Financial Scams Continue to Target Senior Members
Older adults are being targeted by financial scams at higher rates than before. These scams often feel urgent and convincing, which is why they can be effective. At City of Firsts Community Federal Credit Union, we want to help every member stay safe and confident when managing their money.
Below are the most common scams we see and the steps you can take to prevent them.
Common Scams Targeting Older Adults
1. Tech Support Scams
Scammers pretend to be from well-known tech companies. They may claim your computer has a problem or that you need to renew software. Some now pretend to be customer support from financial institutions, utility companies, or virtual currency exchanges, and their goal is to gain access to your computer or your money.
2. Grandparent Scams
In this scam, the fraudster pretends to be a grandchild or other relative in trouble. They may say they were arrested or stuck at a border and need money wired to them right away. These requests often come with a strong sense of urgency, preventing you from checking with family first.
3. Social Engineering Scams
A scammer may call while pretending to be a credit union employee. They may ask you to confirm personal details such as card numbers, PINs, expiration dates, or passwords. A real employee will never ask for this information, so any such request is a warning sign.
How to Protect Yourself and Loved Ones
Never Allow Remote Access to Your Computer
Do not let anyone take control of your computer if they contact you first. If someone calls about a “computer problem,” hang up. If you think someone might have accessed your device, take it to a trusted repair company for a check.
Do Not Trust Phone Numbers From Messages or Pop-Up Ads
Scammers include fake phone numbers in emails, texts, voicemails, and online pop-ups. If you need to contact a company, use the customer service number listed on its official website.
Be Careful With Money Requests
If you are asked to wire money after a recent deposit or “overpayment,” talk with a banker, trusted friend, or family member. Scammers often tell victims to hide the real reason for sending money, so be open and honest if you ask for help.
Stay Informed
You can learn more about current scams and prevention tips at trusted consumer education sites such as the Federal Trade Commission at consumer.ftc.gov.
We Are Here to Help
If you have questions or believe you may have been targeted, please contact us. We are here to support you and help keep your financial information safe.