Over the Christmas holiday, the mom of one of my good friends gave $10,000 to a phone scammer. Earlier that month, I visited a Rotary meeting and one of their members shared that he had just been scammed by a call he thought was his bank. Last week, I heard from a prospective client that her sister had just given her entire savings away to an internet scammer.
What all three of these people have in common is that they are all in their 70’s, vibrant, active, and engaged in their lives. We typically think of victims of scams as being “vulnerable” and isolated. Yet scammers have gotten so skilled, they are forcing us to re-think who is vulnerable to being scammed. These days, we are all at risk.
Internet and phone scams are on the rise and will only continue to increase over time as scammers continue to refine their skill and gain continued success. No one is immune and scammers target all ages. However, “the people losing money are disproportionately sixty and older, with those eighty and older losing most of all,” states M.T. Connolly, attorney, author, and leading national expert on elder justice (Connolly, The Measure of Our Age, 106).
The other trait these three victims have in common is that they all felt incredibly shamed and embarrassed. Embarrassment and shame are common reactions to being scammed and is the reason scam victims are often reluctant to notify others of the scam as well as accept help.
This is what scammers are counting on. They are clever and manipulative, using fear, intimidation, and often tug at emotional heart strings. Yet, reporting these scams is crucial to help recover lost funds and protect others from being victimized.
Below are ten steps to take if you or someone you know has fallen victim to a scam:
Stay Calm, Act Quickly. The instant you realize you’ve been scammed, feeling panic or embarrassment is normal. However, it is essential to stay calm, so start by taking a deep breath. Mitigate the damage by acting quickly by taking the steps detailed below.
Document What Happened. Write down as many details as possible. Include:
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- Date, time, and method of communication (e.g., phone call, email, website, mail).
- Scammer’s contact information (if available).
- What was said or written, including any threats or promises.
- Screenshots, emails, or transaction receipts.
Contact Your Bank or Credit Card Company. If you’ve made a payment or provided financial information, contact your credit card company or bank immediately. Explain the situation and request to:
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- Freeze your account/s if necessary.
- Cancel any fraudulent transactions.
- Issue a new debit or credit card if your information has been compromised.
Report the Scam to Authorities. Reporting the scam may aid in recovering your losses and can help protect others. Depending on the nature of the scam, here’s where to report it:
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- Federal Trade Commission (FTC): Visit ftc.gov to file a complaint.
- Internet Crime Complaint Center (IC3): For internet-related scams, submit a report at ic3.gov.
- Your Local Police: If you’ve suffered significant financial loss, file a police report for official documentation.
- State Consumer Protection Office: They may have additional resources for victims of scams. Here in Washington State, contact Consumer Protection at the Office of the Attorney General.
Place a Fraud Alert on Your Credit Report Contact one of the three major credit bureaus (Equifax, Experian, or TransUnion) to place a fraud alert on your credit report. This makes it harder for scammers to open accounts in your name. You only need to contact one bureau; they will notify the others. If your social security number was exposed, you will need to contact the Social Security Administration by calling 1-800-772-1213. Also, create a “my Social Security” account if you haven’t already. You can find more information about the “my Social Security” program here.
Change Your Passwords. Change your passwords immediately if the scam involved online accounts or sensitive login credentials. Use strong, unique passwords for each account and consider enabling two-factor authentication (2FA) for added security. Click here to listen to ConsumerMan Herb Weisbaum talk about the added security of Passkeys.
Alert Family and Friends. If the scam involved impersonating you or spreading malware, notify friends and family. Warn them not to click on suspicious links or respond to fraudulent messages. Sharing that you’re a victim to fraud is also an important part of protecting yourself and others.
Become Educated for Future Prevention. Understanding how scams operate can help you avoid them in the future. Here are a few common red flags:
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- Unsolicited messages or calls requesting personal or financial information.
- Pressure to act immediately or face consequences.
- Offers that seem too good to be true.
- Here’s ConsumerMan Herb Weisman’s 10 Tips to Fight Fraud – How to Protect Yourself
Consider Identity Theft Protection Services. An identity theft protection service monitors your credit and alerts you to suspicious activity. They can help protect your personal information from theft and fraud, as well as assist in recovery if identity fraud is discovered.
Seek Support. Being scammed can be emotionally draining and make you feel vulnerable. Don’t hesitate to talk to someone you trust about the experience. Support groups and counseling services can also help if you’re feeling overwhelmed.
If the scam happened to an older adult you care for, especially someone that lives a long distance from you, may be isolated, frail, or living with a cognitive impairment, consider engaging the services of an Aging Life Care Professional.
Aging Life Care Professionals are trained to recognize and can deter abuse and exploitation through ongoing oversight. As mandatory reporters, we are required, by law, to report abuse and exploitation. As experienced professionals, we can also assist in making follow up calls, advocate on behalf of the older person, and make sure the victim gets emotional support.
To find your own Aging Life Care Professional in your area, visit aginglifecare.org.
Being scammed can be very distressing. Taking swift and decisive action can minimize the damage and help you recover. You’re not alone. Resources and support are available to assist you. By following these steps, you can regain control and protect yourself from future scams.
Additional Resources
- IRS Impersonators & Tax Scams Targeting Older Adults (Aging Wisdom blog article)
- Herb “ConsumerMan” Weisbaum Helps Us Be Wiser Consumers (Aging Wisdom blog article)
- The Seven Biggest Myths About Elder Abuse (Aging Wisdom article)
- Aging Wisdom podcast episodes with show notes — Wisdom from ConsumerMan Herb Weisbaum
