In 2025, Americans aged 60 and over submitted over 201,000 complaints to the FBI’s Internet Crime Complaint Center, reporting $7.7 billion in losses. This age group faced the highest total losses, with an average of nearly $38,500 per victim. This figure doubles that of younger victims, highlighting the vulnerabilities in this demographic.
The Federal Trade Commission estimated fraud costs for older adults between $10.1 billion and $81.5 billion in 2024, hinging on underreporting levels. Issues arise from outdated verification methods, which often rely on easily accessible details like date of birth, mail address, and parts of a Social Security number.
Adult children often take responsibility for bolstering their parents’ security. Most of these measures can be implemented within an afternoon.
Steps to Safeguard Against Scams
Older adults have numerous accounts available for scammers, including banks, Medicare, Social Security, and pension administrators. The rise in convincing AI voice cloning further complicates matters, making older adults vulnerable during verification processes.
- The number of older adults reporting losses of over $100,000 rose from $55 million in 2020 to $445 million in 2024.
- The FBI documented $893 million lost to AI-related scams in 2025, with those aged 60 and above accounting for $352 million.
Initial Precautions
Before implementing security steps, discuss them with your parents to ensure they understand and maintain control.
- Credit Freezes: Contact Equifax, Experian, and TransUnion to freeze credit, which has been free since 2018.
- IRS Identity Protection PIN: Retrieve a six-digit PIN from irs.gov/ippin to prevent fraudulent tax filings.
- USPS Informed Delivery: Register at USPS to prevent criminals from previewing mail contents.
- Opt Out of Prescreened Offers: Use optoutprescreen.com for permanent opt-out choices.
Consider credit monitoring services for comprehensive oversight.
Claiming Online Accounts
To preempt fraudsters, establish federal accounts for your parents online.
- Register them on ssa.gov for my Social Security and MyMedicare.gov accounts.
- Activate two-factor authentication for all crucial accounts and utilize password managers.
- Review each Medicare Summary Notice with your parents.
Fraud instances like the California Medi-Cal case highlight the importance of vigilance. Operators enrolled non-residents as patients, billing state funds for non-existent visits.
Family Communication and Preparedness
- Use a family code word for suspicious phone calls to verify identity.
- Display a list of actions real agencies won’t do, such as demanding SSNs or payment through unconventional methods.
A proactive stance, including financial power of attorney agreements and identity protection services, can streamline fraud responses.
Note that while services can aid recovery, proactive measures remain crucial for minimizing potential misuse.
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Kurt Knutsson, a tech journalist, provides insights through various platforms, encouraging proactive protection against identity fraud.