Thank you for attending today’s session on protecting yourself from scams. We reviewed the latest federal findings and focused on practical ways older adults can spot, avoid, and report fraud.

Key Takeaways and Next Steps

Scams Are Growing—and Costly

Federal reports show that adults age 60 and over lose billions of dollars each year to scams, with losses rising sharply in recent years. While older adults may not be targeted more often, the financial impact is much greater when a scam succeeds.

Know the Most Common Scams

The biggest losses come from investment scams, government and business impostors, romance scams, and tech support scams. These scams often pretend to be from trusted sources like the IRS, Social Security, banks, or well-known companies.

Watch How Scammers Ask for Payment

Be especially cautious if someone asks for payment by bank transfer (Zelle or Venmo), cryptocurrency, gift cards, or cash pickup. These methods are hard to trace and difficult to recover once sent.

Understand the Tactics They Use

Scammers rely on urgency, fear, secrecy, and emotional pressure. If someone insists you act immediately, keep the conversation secret, or plays on fear or love, stop and take a step back.

Protect Yourself and Report Quickly

Tighten privacy settings on social media, avoid clicking unknown links, and never share passwords or security codes. If you suspect a scam or lose money, report it right away at reportfraud.ftc.gov—acting quickly improves the chance of recovery.