Internet Scams Targeting the Elderly: How to Spot, Prevent, and Respond to Fraud
- Jeff Schlotterbeck, CFP®
- Jul 9
- 3 min read
In early 2021, 77-year-old Marjorie Bloom lost $661,000 to a tech support scam that began with a simple popup window on her computer. The scammer, pretending to be from her bank, convinced her she needed to act quickly and secretly to protect her money. Tragically, she complied.
This may sound extreme, but it’s far from rare—and it’s becoming more common. Internet scams targeting the elderly have surged in recent years, and according to the FBI, Americans over 60 lost $4.8 billion to scams in 2024, with investment scams leading the way. The average loss per victim? A staggering $83,000.
So how can we stay vigilant and protect the people we care about?
Why Internet Scams Targeting the Elderly Are So Common
Scammers are calculated. They often go after older Americans because:
They control a large share of the country’s wealth
They tend to be more trusting
They may not be as comfortable with technology
They may experience cognitive decline
They're less likely to report the crime
The result is a perfect storm for fraud.
Warning Signs to Watch For
Whether it’s an urgent popup on a screen or a suspicious investment pitch, look out for:
High-pressure tactics: “Act now or lose everything!”
Secrecy: “Don’t tell anyone—not even your family.”
Unsolicited outreach: Emails, calls, popups, or messages from strangers
Too-good-to-be-true returns: “Guaranteed” results with little to no risk
If something feels off, it probably is.
How to Avoid Investment Scams
Ask questions. Don’t let anyone rush you.
Do your research. Look up the investment—and the person promoting it.
Be careful with online pitches. Social media can be a hotbed for scams.
Use strong digital hygiene. Think passwords, software updates, and two-factor authentication.
Talk to someone you trust. If you're unsure, take a step back.
I always encourage clients to reach out before making any financial decision that feels unusual or unexpected.
Tech Support Scams Are Growing
Microsoft warns that tech support scams are on the rise. They often start with:
A popup message claiming there’s a virus on your device
A cold call pretending to be from “tech support”
The goal? To get you to pay for bogus services or give access to your device. Once they’re in, your personal and financial information is at risk.
Tip: Never call a number listed on a popup. Go directly to the company’s official website or ask someone you trust for help.
What to Do If You’ve Been Scammed
Report it at ic3.gov (the FBI’s Internet Crime Complaint Center)
Contact your bank or credit card company right away
File a report at reportfraud.ftc.gov
Act quickly if you sent a wire transfer—there’s a chance to reverse it
⚠️ Unfortunately, payments made in cryptocurrency are usually not reversible. Any business that demands crypto should raise serious red flags.
Final Thoughts
Scammers are getting more sophisticated. But with a little awareness, caution, and open communication, you can avoid becoming a victim.
If you ever come across an investment pitch or financial request that seems off, don’t hesitate to reach out to me directly. I’m always happy to take a look or offer a second opinion—no pressure, no judgment.
Let's Connect
If you or someone close to you wants to talk through an investment idea, protect themselves online, or just check in, schedule a time to connect. I'm here to help—personally.
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