As our loved one's age, it becomes increasingly important to safeguard them from financial scams that can have devastating consequences on their hard-earned savings and peace of mind. Senior citizens are often vulnerable targets for fraudsters due to their trusting nature and lack of familiarity with modern technologies. Scams targeting adults 60+ led to over $3.4 billion in losses last year—an 11 percent jump from 2022—showing fraudsters won’t let up on their most vulnerable victims Below, we shed light on some common financial scams that target seniors and provide essential tips on how to protect them from falling victim to these deceitful practices.

Stay Skeptical of Unexpected Calls

Whether it’s a “computer repair” demand or a tear-jerking plea from someone claiming to be a grandchild, hang up and verify through a trusted number before you act.

Never Send Money or Gift Cards

Legitimate organizations will never insist on wire transfers or gift-card payments. If someone asks you to “pay now” to claim a prize or bail out a loved one, pause and confirm through a different channel.

Protect Your Tech

Don’t allow remote access to your computer or phone unless you requested it. Fraudsters use “tech support” scams to install malware or steal credentials - always reach out to official support if something seems off.

Keep Loved Ones in the Loop

Encourage seniors to talk through any unexpected requests with a family member or friend. A quick second opinion can stop a scam in its tracks

Report and Get Help
Even if no money has changed hands, report suspicious activity to the Internet Crime Complaint Center (IC3) or IdentityTheft.gov. And don’t hesitate to contact Horizon Bank at 888-873-2640 or visit our Security Center for personalized assistance.