SAN JOSE, Calif.— Older adults are losing billions of dollars to scammers as fraud schemes grow more sophisticated, more personal and harder to spot — leading to a fourfold increase in losses over four years, federal data shows.

Financial fraud comes in a variety of forms — whether it’s someone promising to work on a home or a phishing email that makes off with a credit card number — and experts say new technology, as well as retirement savings, home equity and other assets, make seniors prime targets for scams. Fraudsters go where the money is.

Nationally, losses among that population grew from about $600 million in 2020 to $2.4 billion in 2024, according to the FTC. Much of that growth has been driven by large-dollar fraud, often tied to investment, romance or impersonation schemes. All of those scams add up to a big deal for the Bay Area’s fastest-growing population — people older than 60.

In one recent case in Morgan Hill, California, fraudsters posing as government officials convinced a senior to withdraw thousands of dollars for them. Police arrested a Monterey woman accused of acting as a courier and found more than $16,000 in cash inside her vehicle.

Here’s what experts say older adults and their families should know to spot scams and protect themselves.

Q: Why are older adults often targeted?

A: Anyone can fall victim to scams. Older adults may be more frequently targeted because scammers rely on a combination of isolation and lower digital literacy.

Unfamiliarity with rapidly evolving technology can make it harder to recognize sophisticated scams, especially as tools like artificial intelligence make messages and voices more convincing, advocates said. In one popular scam type, fraudsters use AI to mimic the voice of a grandchild or other family member in distress. They then ask the older adult for money — for example, claiming the relative needs bail money to get out of jail, and the victim sends it, believing the emergency is real.

“Scammers want you to act quickly and emotionally,” said AARP fraud expert Strat Maloma. “Taking a pause and verifying the source can make all the difference.”

Q: What are the main types of scams targeting older adults right now?

A: The most common scams targeting older adults include investment scams, government impersonation schemes, tech support fraud and romance scams, experts said. Trends in California and the Bay Area mirror what’s happening nationally, with scammers increasingly using technology to make their outreach more convincing. A report from the Federal Trade Commission found that of all scam types, the most money is lost through investment scams, totalling $5.4 billion in losses in 2024, more than any other scam type.

“The use of tech makes it a lot easier for scammers to hide their identities,” said Jonathan Beardsley, deputy district attorney for Santa Clara County, who works on these cases. “We see different types of phone scams.”

During tax season, scammers often pose as IRS agents, while others claim victims have won sweepstakes they never entered. The Santa Clara County District Attorney’s Office says tech-enabled scams remain among the most reported by people 60 and older. Red flags include calls or emails from unknown numbers demanding personal information, requests for urgent payments and claims that the potential victim has won a sweepstakes or prize.

In-person scams can be just as sneaky. Door-to-door scams, like unsolicited home repair offers, remain common, particularly among older homeowners. In these cases, scammers may request upfront payment and then disappear or perform substandard work. Officials say these types of scams often rely on in-person pressure and urgency to prevent victims from verifying credentials.

Q: How do these scams typically work?

A: Scams often begin with an unexpected call, email or message designed to create urgency. A scammer may claim there’s a problem with a bank account, computer or taxes, or pretend to be someone the victim trusts. In tech support scams, for example, a caller may claim there is a problem with a computer and ask for remote access. Once inside the system, scammers can steal personal information or install malicious software.

From there, they try to move the person into a state of panic or excitement, pushing them to act quickly — whether that means sending money, sharing personal information or granting access to devices. In some cases, scammers build relationships over time, particularly in romance scams, before asking for financial help.

Q: What can older adults do to stay safe?

A: Verifying information before taking action is key. Reaching out to trusted contacts such as family members or financial institutions can also help prevent costly mistakes.

“Taking a quick second to pause can make all the difference,” Maloma said.

For families, maintaining regular contact with older relatives can also help detect unusual activity early. Some suggest creating a “family code word” to confirm identity in case someone impersonates a loved one.

State agencies and organizations also offer workshops and resources to help older adults recognize scams and protect themselves. In 2025, the California Department of Financial Protection and Innovation hosted and participated in 195 scam awareness and fraud prevention events, reaching more than 16,000 people statewide, according to a DFPI spokesperson.

Q: What should someone do if they think they’ve been scammed?

A: Acting quickly is critical. Victims should contact their bank or financial institution immediately to try to stop or reverse transactions and secure their accounts. They should also report the scam to local law enforcement or Adult Protective Services, especially if the victim is an older adult.

It’s also important to document what happened, including dates, communications and any financial losses, and avoid further contact with the scammer. The American Banking Association recommends reviewing financial statements regularly and never sharing personal or financial information unless the contact was initiated and verified.