“According to the Federal Trade Commission, $2.3 billion was lost by seniors in 2024” due to scams, he reported. “That’s a 25% increase over 2023. You need to understand not only what’s out there, but how to protect yourself. …

 

“Senior women who live alone are the most vulnerable group. They are about twice as likely to be victimized as senior men. … This shows how important it is for every person to be acutely aware of your finances. If you’re more informed about your financial situation, you’re less likely to be abused.”

 

Geiger discussed a string of scams that fraudsters use to prey upon seniors:

 

• Grandparent Scam — Someone calls, tricking an older person into providing information that can be used to convince the victim that the caller is a grandchild. Then the scammer asks the victim to wire money to a person or place.

 

• Collection Fraud — A caller claims to represent a collection agency, a utility company or the IRS, seeking to convince the victim to settle a “debt” they do not owe.

 

• Inheritance Scam — The perpetrator, typically claiming to be from overseas, says, “You are the beneficiary of a multi-million-dollar estate ….” The hook often convinces the victim to pay thousands of dollars in “fees” in order to collect a much larger  inheritance, which does not exist.

 

• Romance/Long-Distance Relationship Scam — This is type of fraud “can hit widows and widowers pretty hard” and preys upon loneliness in order to build a bond. But then the predator asks for money once trust is built.

 

• Lottery Scam — Although not as prevalent as it once was, this scam features a claim that the victim has won a lottery, usually in a foreign country, and must pay taxes up front to get the money. Once the perpetrator collects the “taxes,” the victim never hears about the lottery winnings again.

 

• Unemployment Benefits Scam — Particularly prominent during the Covid pandemic, this scam features perpetrators who claim to be someone else in order to apply for unemployment benefits in another’s name. Then the scammers call the victims, often pretending to be government agents, asking the victims to forward the money to them.

 

• Debit Card Fraud — This abuse typically happens on public credit card and debit card readers, such as gas pumps, ATM machines and point-of-sale devices in stores. Geiger advised participants to pull on the card readers at gas pumps. If an information skimmer has been attached, it can be pulled off.

 

• Check Fraud — This scam can happen with counterfeit checks. In one scenario, the victim may receive a check for higher than an agreed-upon price, with a request to send the overage back. In another, a check comes unexpectedly from an unfamiliar source, who asked the recipient to cash the check, keep a portion, and send the balance back.

 

• Identity Theft — This fraud can happen through popups, viruses or malware on digital devices, as well as “traditional” theft of a wallet or purse.

 

• Phishing — This scam happens when a perpetrator poses as a “trustworthy entity” and seeks to acquire sensitive information, like usernames, passwords and account numbers, in order to gain access to money and resources.

 

• Smishing — This is similar to phishing, except the scammer uses deceitful mobile text messages to lure the victims to do things that are unsafe.

 

Geiger counted out responses to each of the scams and frauds. But they shared several common themes.

 

“A good rule of thumb is this: If another person initiates a phone call to you, you should never provide any personal information,” he said. This runs the gamut, from your date of birth, to your Social Security number, to bank and credit card information, to passwords, to anything that identifies you or your finances.

 

“Never provide bank information or investment account information … or passwords,” or other financial information, he stressed. “Just don’t give out information.”

 

If someone calls claiming to be from the IRS, do not respond. “The IRS never calls,” he said. “The IRS only communicates through the U.S. mail.”

 

If you have any doubts about the authenticity of communication from any institution — bank, government agency, foreign entity, etc. — get the phone number from an independent source “and call them yourself,” Geiger said. “If something just doesn’t seem right, definitely call.”

 

Even as you take steps to protect yourself, don’t feel isolated and alone.

 

Perpetrators of scams and fraud “cast a wide net,” he explained. “It’s a numbers game for them. They only need a handful of people — maybe one-tenth of 1% of people they contact — to fall for their scheme in order to make a fair amount of money.”

 

Also, don’t hesitate to report scammers and fraudsters, he urged.

 

He provided contact information for North Carolina Attorney General Jeff Jackson and the complaint phone number: 877-5noscam.