(This article by Rachel S. Cohen originally appeared in the September 2026 issue of Military Officer magazine.)
Elder fraud — scams targeting those age 60 and older — ensnares hundreds of thousands of Americans each year. The digital era has empowered scammers by offering direct access to that demographic through the internet and smartphones, allowing criminals to steal identities and savings from afar.
More than 201,000 Americans over the age of 60 reported losing about $7.7 billion in cyber-enabled crimes in 2025 — a 37% spike in complaints over the year prior, according to the FBI’s annual Internet Crime Report released in April 2026.
“The average reported loss for older victims was more than $38,000 in 2025, with at least 12,400 victims claiming losses of at least $100,000,” the FBI found.
What’s more, military retirees and veterans lost more than half a billion dollars last year from fraud, according to the Federal Trade Commission (FTC). In reality, experts argue, those figures are likely significantly higher due to underreporting.
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Older adults can be lucrative targets because they “may be driven by loneliness to communicate with strangers,” the FBI said. Older Americans also typically have financial savings, own a home, and have good credit — plenty of assets from which scammers can siphon.
They might also shy away from reporting fraud because they’re unfamiliar with the process or unable to provide details of the crime to investigators.
And some might not want to admit they were tricked and worry relatives might no longer trust them to manage their own finances.
Older adults who are not tech-savvy might find themselves especially susceptible to tech-support scams that seek access to computers and accounts, according to a December article written Luke Delorme, a financial advisor in Massachusetts, and posted online by the Center for Retirement Research at Boston College. He also cited cognitive decline as a vulnerability.
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In addition, prior military service attracts scammers who target pensions and federal benefits, said Ally Armeson, an Army veteran who now serves as executive director of the nonprofit Cybercrime Support Network. Stress and isolation that might follow veterans from their time in uniform into civilian life can also snowball as risk factors.
“Criminals love when we are stressed and when we’re distracted,” said Armeson, who made 13 PCS moves over the course of her military career. “That’s a time when we are going to rush decision-making, we’re not going to think through things, and our brains are exhausted.”
Practicing Digital Hygiene
Though anyone can be hit by cybercrime, awareness and vigilance can make you less vulnerable. Follow these tips:
- Keep your personal information private.
- Set strong passwords.
- Install reputable antivirus software, and consider adding phone apps and browser extensions that can shield you from unsafe emails and websites — though some charge a fee.
- Enable pop-up blockers in your web browser.
- Be skeptical of any unexpected contact, as well as those that ask for access to your electronics, tell you there’s a problem with one of your accounts, or ask you to keep secrets.
- Caller ID can lie. If someone says they’re from your bank, a company with which you’ve done business, or a family member in trouble, hang up and call their official number or one you already have on file.
- Choose a verbal password that only your family members know. For instance, if a caller identifies themselves as your grandchild and asks for money, ask them for the password. If they refuse or fail to answer correctly, end the call — even if they say it’s an emergency.
- Check email addresses for typos and legitimacy.
- Hover over links without clicking them to see if the URL is trustworthy.
- Note whether a message is urgent or contains errors.
- Do not open suspicious email attachments.
- Search online for someone’s name, email, phone number, and address, as well as the proposed offer, to see whether others have flagged them as scammers.
- Never send money, gift cards, checks, wire information, jewelry, gold, or other precious metals to people or businesses unless you’ve confirmed they’re legitimate.
- Manually check your credit score (as often as once a week) for signs of identity theft.
- Maintain strong family ties and real-world friendships to ward off loneliness and vulnerability. Ask someone you trust for a second opinion on whether something is real or safe.
- If you connect with someone online or through a dating app, ask to meet in a safe, public location before sharing money or sensitive information.
- Watch out for misleading ads and buy from reputable vendors.
- Avoid making hasty choices, especially under stress.
The rise of artificially intelligent chatbots and tools that generate fake audio, photos, and videos has made scammers’ scripts more effective, and it has sped up the process of scraping information about someone’s life from across the internet.
Americans in 2025 reported more than 22,300 artificial intelligence-enabled scams that cost them nearly $893 million, according to the FBI.
“[Identity theft and romance fraud] are two crimes that happened before … computers even existed,” Armeson said in an April webinar hosted by MOAA. “But now, because of the internet and computers and other devices, it is easier for the bad guys to commit these crimes.”
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Common Scams
False fronts abound. Here are some reported most often — and those that pilfer the most money:
Impostor fraud: So-called grandparent schemes and similar impostor scams prey on older adults by impersonating someone they know. These scammers urgently text, call, and email targets with fabricated emergencies designed to tug on heartstrings and wallets. These unsolicited requests often ask for payment via gift cards, wire transfers, or cryptocurrency to help a hurt grandchild, pay off debt, or fix a computer, among other scenarios.
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The FBI logged more than 8,600 complaints from those 60 years or older about government impersonation scams in 2025. Impostor scams took nearly $250 million from more than 53,000 military consumers the same year, according to the FTC, which defines that group as active duty servicemembers and their spouses and dependents; members of the Reserve and National Guard; and veterans and military retirees.
Investment scams: These are among the most lucrative because they encourage repeated payments. These fraudsters try to build a relationship with their target, whether romantic or platonic, then pressure them to learn about investing, fund a particular project, or pour money into cryptocurrency — all of which are typically irreversible transactions. Fake websites make their hoax look more legitimate.
Investment-related fraud took nearly $236 million from almost 4,700 military consumers last year, according to the FTC. This scheme also took more money from those 60 years or older than any other type last year, totaling more than $3.5 billion in losses, the FBI found.
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Online shopping fraud: This type of scam tricks older civilians and veterans alike. Fake websites and ads promise great deals, preying on those who might be under financial stress or unable to shop in person. Shopping scams rely on prominent search placement to attract customers but lack clear contact information or conventional ways to pay.
When something looks off, research the brand for negative reviews and scam warnings; a lack of information is a red flag, too. Stick to reputable retailers, and make sure a URL is real, rather than a nearly identical copycat.
These scams stole over $22 million from military consumers last year, the FTC said.
Employment fraud: Armeson warned that veterans are frequent targets of this crime. It leverages urgent, unsolicited messages about job openings with quick hiring timelines and high pay. Some seek people to perform tasks but require money to unlock more work or a higher salary.
Always research a company that contacts you, and touch base with someone who works there to see if the business is really hiring.
Scams related to business and job opportunities took $43.6 million from military consumers in 2025, the FTC said.
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Other scams aimed at older adults include tech-support impersonators, romance scams, fake charity solicitations, and contest scams that ask for money to receive winnings.
“Crypto investment fraud is devastating people,” according to Armeson. “It is stealing people’s entire life savings in a matter of weeks, and it’s only going to get worse.”
If You’re Attacked
Time is of the essence when responding to a cybercrime. To thoroughly report a crime, write down as many details as possible: original documentation of a scammer’s name, alleged company, dates of contact, contact information, payment information, and any instructions you received.
Then, the FBI says, contact your bank and other financial institutions to protect your accounts. The bureau advises victims recall any wire transfers that were sent as well as obtain a hold harmless letter, which can reduce or eliminate financial losses.
A bank can advise you on possible next steps, including setting limits or alerts on accounts, closing existing accounts and opening new ones, and freezing transactions, according to the American Bankers Association. Your bank might also direct you to a customer care unit that specializes in fraud response.
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Reporting a crime within 72 hours improves your chances of recovering lost funds, especially in cases of cryptocurrency fraud where money can quickly transfer outside of U.S. law enforcement’s jurisdiction, Armeson said. She noted that obtaining a police report from local law enforcement can help prove to a bank that someone is a victim, rather than a perpetrator, of fraud.
The FBI suggests preventing your credit score from taking a hit by contacting the three major credit bureaus: Equifax, (800) 685-1111; Experian, (888) 397-3742; and TransUnion, (888) 909-8872. The bureau also encourages people to report incidents to its Internet Crime Complaint Center (IC3). The National Elder Fraud Hotline also takes calls at (833) 372-8311 on weekdays between 10 a.m. and 6 p.m. EST. You can also notify your local U.S. Secret Service field office or state attorney general of a cybercrime.
“Reporting is key to identifying, investigating, and holding these criminal actors accountable for their actions,” per the IC3’s website. “Do not be afraid to report a suspected crime. IC3 promises you are not alone.”
Armeson also suggests contacting the IRS, Social Security Administration, Medicare, and the VA to avoid penalties and to ask about increasing your federal benefits to compensate for the crime.
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You might need to take additional steps depending on the nature of the issue, like changing passwords, contacting a mail carrier to stop an envelope of cash, restoring your cellphone number, or asking a company to refund a gift card.
The American Bankers Association recommends using the Better Business Bureau’s Scam Survival Toolkit. The Cybercrime Support Network offers free peer-support groups for victims of certain scams, and it can connect those affected to social services and other resources.
“There are a lot of repercussions for years and years to come: tax repercussions, depression, homelessness, suicide,” Armeson said during the webinar. “These are the crimes that keep taking.”
MOAA Can Help
MOAA offers several resources to help you avoid scams, including regular articles at MOAA.org/Scams that flag new threats and growing trends.
Hear from experts on how to protect your family and fi nances at events hosted by MOAA. Premium and Life members can access past recordings.
MOAA also offers members discounted rates on identity theft protection through Aura. And members can access free Better Business Bureau tools and resources designed to help them more confidently recognize scams, engage with trustworthy businesses, and create a recovery plan after a scam.
Rachel S. Cohen is a writer in Maryland.
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