The 7 scams most likely to target the senior in your life and how to recognize each one (June 2026)

Senior safety & real estate

The 7 scams most likely to target the senior in your life and how to recognize each one

Knowing the name of a scam is not enough. Understanding exactly how each one works is what helps seniors and their families spot it in real time, before money changes hands.

Every year, older Americans lose an estimated $28 billion to financial scams and exploitation. The losses are not random. Scammers run organized, rehearsed operations designed to exploit trust, urgency, and isolation. The more precisely you understand how each scam works, the harder it is to fall for it.

Below is a plain-language guide to the seven scams most commonly used against seniors, what they look like, how they unfold, and the telltale signal that something is wrong.

CURRENT SCAMS:

Bank impersonation scam - Very common

A caller, text, or email claims to be from the victim's own bank — often using the real bank's name and a spoofed phone number that looks legitimate on caller ID. They say there has been suspicious activity on the account and that the victim must act immediately to protect their money. From there the script varies: they may ask the victim to verify their account number, PIN, or Social Security number. They may instruct the victim to move funds to a "safe account" that the scammer controls. Some versions begin with a fake fraud alert text followed by a call from someone posing as the bank's fraud department. The victim believes they are stopping a crime while unknowingly completing one.

Key signal:Your real bank will never ask you to move money to protect it or request your PIN over the phone. Hang up and call the number on the back of your debit card.

Grandparent scam- Very common

A caller pretends to be a grandchild or someone helping the grandchild such as a lawyer, doctor, or police officer, and claims there is an emergency: an arrest, accident, or hospital stay. They ask for money immediately and beg the grandparent not to tell other family members. The urgency and the secrecy are the tools. By the time other family members find out, the money is already gone.

Key signal:"Don't tell Mom and Dad" — any request for financial secrecy from a family member is a scam.

Government impersonation scam - Very common

Someone calls or sends a message claiming to be from the IRS, Social Security Administration, or Medicare. They say benefits have been suspended, taxes are overdue, or there is a warrant out for the victim's arrest. They demand immediate payment, often by gift card or wire transfer, to resolve the problem. The caller may use threatening language or official-sounding case numbers to seem credible. Real government agencies do not operate this way and will never demand gift card payment.

Key signal: Any government agency demanding immediate payment by gift card or threatening arrest over the phone.

Romance scam - Very common

A fake persona, usually on a dating site or social media, builds a close emotional relationship with the victim over weeks or months. The scammer is attentive, affectionate, and consistent. Once trust and emotional attachment are established, they invent a crisis — a medical emergency, a stranded business deal, a flight they cannot afford — and ask for money. They never meet in person and always have a reason why. The relationship and the feelings are real to the victim; the person on the other end is not.

Key signal: An online relationship that has never met in person and eventually involves a financial request.

Tech support scam - Common

A pop-up warning or phone call tells the victim their computer has a virus, has been hacked, or is sending out dangerous signals. The caller claims to be from Microsoft, Apple, or another trusted tech company and offers to fix the problem remotely. Once given access to the computer, they steal stored passwords and financial information, install malware for later use, or charge hundreds of dollars for fake services that accomplish nothing. Some victims are told their bank account has been flagged and are walked through transferring their own savings to a "safe" account controlled by the scammer.

Key signal:Unsolicited tech companies do not call you. A pop-up asking you to call a number is always a scam.

Lottery or prize scam - Common

The victim receives a letter, email, or call saying they have won a lottery, sweepstakes, or cash prize — even though they never entered one. To collect the prize, they must pay a processing fee, taxes, or shipping cost upfront. The prize never arrives. In a more sophisticated version, the scammer sends a fake check that temporarily clears in the victim's bank account, convincing them the prize is real. The victim wires the fee, the check bounces days later, and the bank holds the victim responsible for the full amount.

Key signal: You cannot win a contest you did not enter. Any prize that requires upfront payment is a scam.

Real estate and mortgage fraud - High risk for seniors

This category covers several related schemes that specifically target homeowners. Predatory reverse mortgage pitches pressure seniors into complex loans they do not fully understand, often stripping equity that was meant to support retirement. Deed fraud involves forging documents to transfer ownership of a home without the owner's knowledge and the homeowner may not discover it until they try to sell. Fake buyers or investors request personal financial information under the pretense of making an offer. During estate sales or senior housing transitions, scammers may also pose as moving companies, contractors, or financial advisors to gain access to the home and private records.

Key signal:Unsolicited offers to buy your home, pressure to decide quickly, or anyone asking for financial documents before a formal, verified offer.

What should a senior do immediately after realizing they may have been scammed?

Stop all contact with the scammer right away. Do not send additional money, click any links, or respond to follow-up messages. Call your bank immediately if any accounts or card numbers were shared. Report the incident to the FTC at ReportFraud.ftc.gov and to your local Adult Protective Services. Acting within the first 24 to 48 hours gives the best chance of recovering funds.

What is the single most effective way to prevent elder financial fraud?

Having a designated trusted person to call before any unexpected financial decision. That one step, calling a family member, friend, or advisor before acting on any urgent request interrupts almost every scam. Scammers depend on the victim making a decision alone, quickly, and in a state of fear or excitement. A second opinion breaks that cycle every time.

How does real estate fraud specifically affect seniors in Santa Clara County?

Silicon Valley homeowners often carry significant equity built up over decades. That makes them high-value targets. Seniors navigating a major transition, downsizing, moving to assisted living, or managing a family estate, face the most exposure, because the process involves many unfamiliar parties and a great deal of financial paperwork. Working with a Realtor who holds the Senior Real Estate Specialist (SRES®) designation means having an advocate who understands these risks and can identify when something does not look right.

Concerned about real estate scams targeting a senior you love?

I work with older adults and their families navigating housing transitions in Santa Clara County. If something feels off about an offer, a solicitation, or a financial request related to a home, I am happy to take a look, no obligation.

Charm Hartland, Realtor
408-712-3932
Charm@HartlandTeam.com

Serving Santa Clara County • SRES® Certified • Top 5% of Realtors in Santa Clara County • DRE #01216487