As Fraud Grows, Prevention is Key

An email claims there’s an issue with your bank account. A voicemail warns your Social Security number has been suspended. Someone on Facebook says you’ve won a free vacation.

Should you call the number? Click the link?

Fraud losses among older adults have surged, driven by scammers seeking to manipulate people’s trust and vulnerability. From using cutting-edge tools like artificial intelligence and cryptocurrency, to age-old deceptions that manipulate emotions, these schemes leave victims financially devastated and emotionally scarred. Through community workshops, legislative advocacy and victim support, AARP is equipping individuals with the knowledge and tools they need to stay protected.

“You can’t blow the horn loud enough or long enough,” says Alfred Mason, 85, AARP Louisiana’s volunteer state president.

Mason and his wife, Natalie, volunteered for several years with the AARP Fraud Watch Network Helpline and now give quarterly talks on fraud prevention at local libraries.

They’ve heard their share of heart-wrenching stories. A woman told Mason she sold her home to pay debts incurred from a scam. A veteran said he’d been victimized three times by romance scams.

Fraud at ‘a crisis level’

Nationwide, elder fraud losses soared from $1 billion in 2020 to more than $3.4 billion in 2023, the FBI says. Kathy Stokes, director of AARP’s fraud prevention programs, says actual losses are likely much higher because many scams go unreported. “Fraud is at a crisis level,” says Stokes.

Schemes have also grown more sophisticated as technology evolves. Christopher Knight, an Indiana-based forensic accountant with the FBI, says scammers now use AI to replicate voices, create convincing avatars and write flawless emails.

“As technology evolves, bad actors are going to exploit it for nefarious purposes,” Knight says.

Mason recalls his own brush with advanced scam tactics when he was at home and received a call that appeared to come from his own phone. He ignored the call and joked to his wife, “I wonder what I wanted.”

This year, AARP Louisiana will host a number of fraud workshops throughout the state. For more information or to request a fraud prevention talk in Louisiana or elsewhere, contact your AARP state office.

As for protecting yourself, Knight offered the following tips:

Don’t respond to unknown contacts. If you don’t recognize a phone number, email or text, it’s okay not to answer or reply.

Watch for urgency. Scammers use high-pressure tactics to create fear or urgency. Take your time, and don’t rush into decisions.

Be skeptical. Research claims made in unexpected messages or calls before acting. Don’t trust unsolicited information.

For more advice, call the AARP Fraud Watch Network Helpline, at 877-908-3360.

—Stacey Shepard