Fraud-Proof Living: Tips for Seniors

Scams aren't new, but the ways scammers operate in our digital world are more sophisticated than ever. From phone calls and emails to social media and text messages, fraudsters are constantly finding new ways to trick people into giving away personal information or money. At SCCU, we believe that knowledge is power. You deserve to feel secure in your financial decisions, and we're here to help you recognize common scam tactics, understand how they work, and know what to do if something doesn’t feel right.

Why Older Adults Are Targeted

While it's true that scammers look for vulnerability in their targets, they often care more about valuable targets—the ones who have built-up savings, own homes, and have strong credit histories. They know you've spent decades building financial security, which makes you a more attractive target.

Something scammers also know is that older adults tend to be responsive to authority figures and family members. We don’t view that as a weakness, but unfortunately, scammers try to take advantage of that by pretending to be someone trustworthy, such as a government official, bank representative, or even a family member. By recognizing this tactic, it's your first step in staying ahead of them.

Common Scams to Watch Out For

While scams come in many forms, there are a few that tend to show up time after time. Here are some of the most common ones we see affecting older adults:

• Impersonation: You get a pop-up or phone call saying your computer has a virus. The "tech support" person offers to fix it remotely, but what they're really doing is stealing your personal information or installing malware. If you didn'tinitiate the contact, don't trust it.
• Grandparent Scams: A caller claims to be your grandchild in an emergency. They'll say they need money fast, but that they don't want you to tell anyone. If this happens, hang up and call your grandchild directly.
• Government Impersonation: Scammers pretend to be from the IRS, Social Security Administration (SSA), Medicare, or even local law enforcement. They'll say you owe money or your benefits are at risk. Real government agencies won’t threaten arrest over the phone or demand payment in gift cards.
• Sweepstakes and Lottery Scams: "You've won!" But first, you need to pay taxes or fees to claim your prize. If you didn't enter a contest, it's safe to say you didn't win. Legitimate sweepstakes never ask for a payment upfront.
• Romance Scams: Someone you met online seems perfect. Then they ask for money, which is usually for an emergency or travel. Be cautious with online relationships, especially if they avoid video calls or ask for any sort of financial help.

Where Do Scammers Get Their Information?

You might be wondering: How do scammers even know my name, phone number, or that I'm retired? The truth is, they're surprisingly resourceful and often don't need to dig very deep.

Here are a few common ways scammers gather personal details:

• Public Records and Online Listings: Some information like your name, address, or property ownership is publicly available. Scammers can read these records online and use them to make their messages feel more personal and convincing.
• Social Media: Scammers can learn a lot from social media. Posts about vacations, birthdays, or family members can help them craft believable stories. Review your privacy settings and avoid sharing too many personal details on a public profile.
• Data Breaches: Unfortunately, large companies sometimes experience data breaches, where customer information is leaked or stolen. Scammers may have access to your email, phone number, or other details. We suggest using strong, unique passwords and signing up for credit monitoring.

What You Can Do to Stay Safe

You don't need to be overly suspicious of everyone, but a little caution can go a long way. Here are some practical ways to protect yourself:

• Verify Before You Trust: If someone contacts you unexpectedly, take a moment to verify, especially if they're asking for money or personal information. Call the organization directly using a number you trust (not the one they give you).
• Take Your Time & Talk It Over: Scammers rely on urgency. If someone says, "you must act now," that's a red flag. Slow down, ask questions, and talk to someone you trust. Getting a second opinion can help you spot a scam.
• Use Secure Banking Tools: SCCU offers tools to help you monitor your accounts, set up alerts, and protect your information. These features are designed to help you catch unusual activity early. Ask us about setting up account alerts and using the SCCU Mobile app.
• Report Suspicious Activity: If you think you've been targeted, or even if you're just unsure, report it. SCCU can help guide you through the next steps, whether that's freezing your account or filing a report.

Recognizing Red Flags: The Four Ps of Fraud

To help you remember how to avoid a scam, we suggest memorizing the Four Ps from the Social Security Administration (SSA): Pretend, Problem, Pressure, Pay.

Pretend
What it is: Scammers often act like they're from a trusted organization like Medicare, the IRS, or even SCCU. They've an official-sounding language, fake logos, or caller ID tricks.
Why: They'll name-drop familiar institutions to gain your trust. If someone claims to be from a government agency or financial institution, take a moment to verify.

Problem
What it is: They'll say there's a serious issue—maybe your account is frozen, your benefits are at risk, or there's a warrant out for your arrest.
Why: These problems are made up to scare you into acting fast. The goal is to create panic, so you don't think clearly.

Pressure
What it is: Scammers don't want you to think, they want to react. They'll push you to act immediately, saying things like "don't hang up" or "you must respond now".
Why: This pressure is designed to keep you from asking questions or checking with someone you trust. Urgency is a tactic. Real organizations will give you time to respond.

Pay
What it is: Finally, they'll ask for money in strange ways like gift cards, online transfers, or money orders.
Why: If someone asks for payment in an unusual form, that's a major red flag. Always check with SCCU before sending money to someone you don't know personally.

SCCU is Here for You

We're more than just your credit union; we're your partner in financial safety. We know how hard you've worked to build your financial future, so we want to help you protect it confidently. Our Team Members are here to support you with fraud prevention tips and alerts, secure banking tools to monitor your accounts, and friendly support from your local branch.