Scammers target older adults because they are more likely to have savings, own a home, and answer the phone. The schemes below are listed by financial impact to seniors, based on the FBI’s 2025 Internet Crime Complaint Center (IC3) Elder Fraud reporting. None of this requires your parent to be “gullible.” It requires a criminal who is patient, rehearsed, and increasingly backed by AI.
The scams costing families the most
Investment fraud, including “pig butchering”
Investment fraud is the costliest category of elder fraud reported to the IC3 — more than $3.5 billion in 2025. “Pig butchering” is the version families miss until the money is gone: a new contact (often through text, social media, or a dating app) spends weeks or months building trust, then steers the victim onto a fake trading platform. Early “gains” look real. Withdrawals later are blocked, and the “broker” vanishes.
What it looks like at home: a new online friend who talks constantly about crypto or a “private” investment, secrecy about a trading app, or sudden large transfers to wallets or accounts the family has never seen.
Family imposter and “grandparent” scams — now with AI voice cloning
A caller claims to be a grandchild, niece, or caregiver in trouble: an accident, a jail booking, a medical bill that must be paid today. The instruction is always the same — do not tell anyone, send money or gift cards now. AI voice cloning has made this sharper. A short clip from a family video or voicemail can be enough to mimic a loved one’s voice on the phone.
What it looks like at home: panic, a request for secrecy, pressure to use wire transfers, crypto, or gift cards, and a story that falls apart if you reach the real relative on a number you already have.
Romance scams
A relationship develops online — often with someone who cannot meet in person because of work overseas, a military posting, or a medical crisis. After trust is built, the requests start: travel money, legal fees, an investment “we can do together.” These losses accumulate slowly, which is why families sometimes notice only after several transfers.
What it looks like at home: a relationship the rest of the family has never met, excuses that prevent a video call, and financial requests framed as loyalty tests.
Tech support and government impersonation
A pop-up, a phone call, or an email claims to be Microsoft, Amazon, the IRS, Social Security, or a sheriff’s office. The script is fear: your computer is compromised, your benefits will stop, there is a warrant. The “fix” is remote access to the computer or a payment to “release” a hold. Tech and customer-support fraud was among the costliest elder-fraud types reported in 2025.
What it looks like at home: someone unknown on the computer, instructions to withdraw cash, buy gift cards, or move money to a “safe” account, and a caller who refuses to let your parent hang up and call back.
Three habits that stop a transfer
Most of these crimes depend on urgency and isolation. The steps below are simple on purpose — they work even when someone is scared.
Agree on a family code word
Pick a word or phrase only the real family knows. If a “grandchild” or “son” calls in crisis, ask for the code word before anyone sends money. AI can copy a voice. It cannot copy a word you have never posted online.
Verify on a separate, known channel
Hang up. Call the relative, the bank, or the agency back on a number you already have — from a holiday card, a statement, or the official website — not the number the caller gave you. A second channel is how you find out the real person is safe and at work.
Pause before any urgent money request
Legitimate banks, agencies, and tech companies do not demand gift cards, crypto, or same-day wires to “avoid arrest.” If the story requires secrecy and speed, that is the scam. Wait. Tell one other trusted person before money moves.
An extra set of eyes at home
Regular in-home companionship also means an extra set of eyes — our caregivers are trained to recognize the signs of a client being targeted by a scam, and we're always a call away if something feels off. Learn about Companion care.
If something already feels wrong — a new “broker,” a secret relationship, or a caller who will not let your parent hang up — call Living Connects and report the attempt to ic3.gov and your bank. Contact Living Connects or report at ic3.gov.
Sources
- FBI Internet Crime Complaint Center, 2025 Annual Report — Elder Fraud section; report released 2026. Adults 60+ reported 201,266 complaints and more than $7.7 billion in losses.
- Federal Trade Commission, Protecting Older Consumers, December 2025
- Fortune, December 2025 reporting on elder fraud losses and investment scams
- Vectra AI, “AI Scams in 2026” — On voice cloning and social-engineering tactics used against families.