How to Protect an Aging Parent From Scams: 10 Steps

If you worry about an aging parent being targeted by scammers and want to protect them from scams, you’re not overreacting. The FTC says scammers posing as government agencies or well-known businesses are increasingly going after retirees’ life savings, and reports of losses over $100,000 by older adults to these impostors increased nearly sevenfold from 2020 to 2024.

The good news: a few conversations and settings can make a real difference. Everything below works best when your parent is a willing partner. These steps are about protecting their independence, not taking it away.

This guide is general information, not legal or financial advice. For decisions about powers of attorney or account ownership, talk with a lawyer or your parent’s financial institution.

What are the 10 steps at a glance?

1. Talk about scams openly and without blame.
2. Agree on a family safe word.
3. Adopt a second-opinion rule before anyone sends money.
4. Review the “we never” list: what real agencies and banks never ask.
5. Turn on call and text filters on your parent’s phone.
6. Turn on the carrier’s free spam blocking.
7. With permission, ask the bank about naming a trusted contact.
8. Turn on account alerts for large withdrawals or transfers.
9. Learn the warning signs of financial exploitation.
10. Save the numbers for the National Elder Fraud Hotline and adult protective services.

Each step is explained below.

How do you start the conversation?

Make scams a normal family topic, not a test your parent can fail.

1. Lead with stories, not warnings. “I read about a scam where someone pretends to be the bank’s fraud department…” opens a conversation more easily than “You need to be careful.”
2. Ask, don’t lecture. What calls and texts have they been getting lately? Have any seemed odd?
3. Make it clear anyone can be fooled. Scammers are professionals who use fear and urgency. Being targeted isn’t a sign of weakness.
4. Keep the door open. Promise you’ll never be angry if they call you about something suspicious, even if they already paid.

If you think your parent may already be in an online relationship with a scammer, see our guide to talking to a parent about romance scams.

What rules can protect the whole family?

Simple family rules beat complicated advice:

• A family safe word. The FCC suggests choosing a safe word that only family members know. If a caller claiming to be a grandchild can’t give it, it may be a scammer. See grandparent scams.
• The second-opinion rule. Nobody in the family sends money, buys gift cards or moves savings because of a call, text or email without first talking to someone else. The FTC’s advice for impostor scams is the same: talk about it with someone you trust.
• The “we never” list. Remind each other what real agencies and banks never do: demand gift cards, crypto or wire transfers; tell you to move money to “protect” it; send couriers to collect cash; or tell you to keep a call secret.

What phone settings help?

Many scams start with a call or text. With your parent’s permission, help them:

• Turn on built-in filters, such as silencing unknown callers and filtering texts from unknown senders.
• Turn on the carrier’s free spam blocking.
• Save important numbers (family, doctors, bank) in their contacts so real calls are easy to recognize.

Our guide to stopping spam texts on iPhone and Android walks through each setting.

What is a trusted contact person on a financial account?

A trusted contact is someone your parent chooses, such as an adult child or close friend, whom their bank or credit union can reach out to for extra help in an emergency. The Consumer Financial Protection Bureau explains that a bank might contact a trusted contact when it can’t reach the account holder or suspects possible financial exploitation. Your parent can add a trusted contact to brokerage accounts, too.

The CFPB’s guidance includes some important points:

• Your parent keeps control. Choosing a trusted contact doesn’t give that person access to the accounts or information without your parent’s consent.
• Your parent can usually choose more than one trusted contact, and can remove or change them.
• It may be wise to choose someone who doesn’t already control the accounts or have the power to withdraw money from them.
• Ask the bank what it would share with the trusted contact and when.

At the same time, ask about account alerts for large withdrawals or transfers. Alerts can catch a scam in progress.

Should you use a power of attorney?

A power of attorney is a legal document that lets someone make financial decisions for another person. It’s a bigger step than a trusted contact and isn’t right for every family. The CFPB publishes free “Managing Someone Else’s Money” guides for people named in a power of attorney, court-appointed guardians, trustees and government fiduciaries. Talk with a lawyer about what fits your parent’s situation.

What are signs a parent is being exploited?

Watch for changes, especially sudden ones:

• Unusual withdrawals, wire transfers, gift card purchases or deposits at Bitcoin ATMs.
• Secrecy about a new friend, romance, “investment” or ongoing calls with an “agent.”
• Anxiety after phone calls, or saying they’ve been told not to tell anyone.
• New “friends” or helpers who show up suddenly and take an interest in money.
• Unpaid bills despite enough income, or missing statements.

Who can help?

• National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311), Monday–Friday, 10 a.m.–6 p.m. Eastern. It’s a free Justice Department service for reporting fraud against anyone 60 or older. A case manager helps with reporting at the federal, state and local levels. Note that the Hotline itself warns of scammers pretending to be Hotline staff, so be careful about any unexpected call that uses its name.
• Adult protective services: the CFPB suggests contacting your local adult protective services agency if the victim is an older person. The Eldercare Locator (1-800-677-1116) can help you find local services for older adults.
• The bank or card company, right away, if money was sent.

If a scam already happened, use our first-hour checklist after a scam and see where to report a scam. For more on scams that target families, see our guide to grandparent and family emergency scams.