One of the unfortunate realities of the digital age is that technology makes committing fraud a whole lot easier. Scammers today have become increasingly sophisticated, using the anonymity of the internet to defraud unsuspecting consumers of billions of dollars every year — and the losses are only increasing. In 2021, the FTC received fraud reports from more than 2.8 million consumers, with losses totaling over $5.8 billion, an alarming 70 percent increase from the previous year.

Seniors in particular are some of the most vulnerable to the growing onslaught of fraud cases. More than 3.5 million elderly adults are victims of financial exploitation each year, suffering an average loss of $34,200 per case reported to the Consumer Financial Protection Bureau. And much like the larger trend, the number of instances of elder fraud — and the amount of money stolen — grows exponentially each year. In 2021, over 92,000 victims over the age of 60 reported losses totaling $1.7 billion to the Internet Crime Complaint Center, a division of the FBI concerned with suspected Internet-facilitated criminal activity. This represents a 74 percent increase in losses from the year before.

With elder fraud on the rise, it’s especially important to know what to look out for. Read on to learn about some of the most common types of scams targeted at senior citizens and tips that may help to avoid them.

Tech support scams

According to the FBI’s 2021 Elder Fraud Report, the number one most reported type of fraud among victims over the age of 60 was tech support fraud, costing seniors almost $238 million last year. Tech support scams disproportionately affect seniors, as they capitalize on the common fear of accidentally downloading an online virus and a potential lack of familiarity with modern cybersecurity practices.

Tech support scams may manifest in a few different ways. They often involve an online advertisement or pop-up with a warning that the victim’s device is infected or vulnerable. This may lead to a prompt to install an update or new software that turns out to be malware — malicious software capable of taking over the device and stealing the victim’s information.

Confidence Fraud/Romance scams

Confidence Fraud/Romance scams encompass a broad category of scams designed to pull on elderly victims’ heartstrings in order to extort them for money. In 2021, the IC3 reported that the highest losses for fraud victims over the age of 60 were the result of this kind of scam, totaling over $432 million. Two of the most common varieties to watch out for are romance scams and grandparent scams.

Romance scams

Romance scams are some of the most costly for seniors. In 2021, the FTC reported that victims of romance scams over the age of 70 sustained median individual losses of $9,000 . The median losses for those ages 18–29? Only $750.

Romance scams occur when a criminal creates a fake online persona to establish a relationship and gain a victim’s affection and confidence. Then, they use the perceived intimacy of their online relationship to convince their victims that they are genuine and trustworthy — before inevitably asking for money.

Romance scammers are experts at manipulating their victims’ feelings, but there are a few potential indicators. Scammers generally aim to establish these relationships quickly, even if they don’t ask for anything right away. They may also claim to be in the military or in an industry with projects outside the U.S. This excuse not only makes it easier to avoid meeting in person but also makes it more believable when they eventually ask for money to be sent overseas to help cover some unexpected emergency expense.

Grandparent scams

In grandparent scams, fraudsters send messages to seniors pretending to be panicked family members asking for money to help get them out of trouble. Usually the situation is presented as a dire emergency, like receiving an unexpected hospital bill, getting stuck in jail, or having to leave a foreign country.

Grandparent scams might also involve a fake authority figure, such as a police officer, doctor, or lawyer. This tactic is designed to capitalize on fear and compel seniors to wire money to the scammers immediately, without pausing to verify the situation or the identity of the scammer.

In 2021, over 450 seniors reported being the victims of grandparent scams, with losses of approximately $6.5 million.

If you or your loved ones receive a desperate call or message from someone claiming to be a grandchild, family member, or close friend in need of money right away, don’t act rashly. No matter how heart wrenching their story is, first make sure it checks out. Ask identifying questions that a stranger wouldn’t be able to answer and verify the situation with a friend or family member, especially if you’ve been asked to keep it private. Remember, a scammer might insist you keep the situation a secret to prevent you from asking friends and family members and realizing it’s a scam.

Most importantly, don’t send money before you know the story is true. Once you’ve sent it, it’s very difficult, if not impossible, to get it back.

Sweepstakes/Lottery/Inheritance scams

Another category of scam that disproportionately impacts seniors is sweepstakes, lottery, and inheritance. In 2021, elderly victims reported losing over $53 million to these types of fraud.

Sweepstakes, lottery, and inheritance scams generally all operate in a similar way. The scam often begins with a call, email, social media message, or posted letter offering congratulations for winning a lottery, contest, or sweepstakes that the victim did not enter. In the case of inheritance scams, the victim receives notice that an unknown, distant relative has left them a large inheritance.

But, as always, there’s a catch. To claim the money, victims first have to pay upfront fees and taxes. Scammers will continue to extort victims in this way for months or even years, promising to supply the prize or inheritance money after just one more payment.

General tips to help avoid elder fraud:

●      Beware of anything that seems too good to be true.

Whether it’s the perfect online love interest or an unexpected cash prize, if a situation seems impossibly lucky, you might want to exercise caution. Consult trusted family and friends, and always be wary of sending money, especially via odd payment types like wire transfers, cryptocurrencies, gift cards, payment apps, or money orders.

●      Be extremely careful about sharing personal information — even if the request seems legitimate.

Just because a message seems to come from a legitimate source, like a real company or government organization, doesn’t mean it does. Take time to verify the organization’s contact info for yourself. As a general rule of thumb, avoid sharing private information.

●      Beef up your online security.

Adding extra layers to your data security — like using discrete, complex passwords for each of your accounts and turning on multi-factor authentication — can help prevent scammers from causing major damage, even if they manage to find out your login credentials.