In 2025, individuals aged 60 and above submitted over 201,000 complaints to the FBI’s Internet Crime Complaint Center, resulting in a staggering $7.7 billion in reported losses—more than any other age group. On average, older victims lost around $38,500, which is roughly double the losses experienced by younger individuals. A December 2025 report from the Federal Trade Commission highlighted that the total financial impact of fraud targeting seniors in 2024 could range from $10.1 billion to as much as $81.5 billion, largely influenced by underreporting methods.
Interestingly, there’s a concerning issue with a 20-year-old data breach dump that now stands between seniors and various systems, verifying identities through dates of birth, addresses, and the last four digits of Social Security numbers. This same information can be readily accessed at bank call centers and is enough to register for a Medicare account that seniors might not have applied for online. It seems it’s primarily the responsibility of adult children to prevent these checks, often finding most of the work happens during the afternoons.
Why elderly parents are at increased risk of identity theft
Aging parents tend to have many accounts—think banks, brokerages, Medicare, Social Security, pensions—that their adult children might not. Each of these accounts has its own methods for verification. When scammers manage to hack into one, they often find a treasure trove of information waiting across others.
According to the FTC, there’s been a remarkable surge in elderly individuals losing $100,000 or more, jumping from $55 million in 2020 to a whopping $445 million in 2024.
Additionally, AI voice cloning technology has made it easier for fraudsters, letting them authenticate calls more convincingly. The FBI projects losses linked to AI-related fraud will reach around $893 million in 2025, with those over 60 accounting for $352 million. Just a few seconds of public audio—like a voicemail or a church livestream—can recreate an elderly parent’s grandchild’s voice, making scams more believable.
Before taking any precautions, it’s essential to have a conversation with your parents to ensure they understand each step. The aim is to protect them, not to take away their independence.
Start with credit, tax, and mail protection
You can tackle several protective measures through credit reporting agencies, the IRS, or USPS, all for free and typically within 15 minutes:
- Freeze their credit: You can do this through Equifax, Experian, and TransUnion. Each one requires processing separately; credit freezes have been free since 2018 and can be lifted online.
- Obtain an IRS ID protection PIN: Available at irs.gov/ippin, this six-digit PIN helps block fraudulent tax returns using their Social Security number and is renewed yearly.
- Set up USPS Informed Delivery: This prevents criminals from registering victims on the USPS website to access sensitive mail.
- Opt-out of pre-qualified credit offers: This can be done at optoutprescreen.com, with a mailed form making the opt-out permanent.
A credit freeze prevents new credit applications, while an IP PIN blocks fraudulent tax filings. It’s worth considering additional credit monitoring from all three agencies, as proactive alerts can help detect suspicious activity more quickly.
Require a federal account before scammers do
Make sure to pre-register for a Social Security account in their name at ssa.gov and similarly at MyMedicare.gov to deter others from using their Social Security number to create accounts. Also, enable two-factor authentication (2FA) and store important passwords in a secure place, as reusing passwords can make things easier for fraudsters.
If there are any unfamiliar charges in Medicare summary notifications, it’s crucial to discuss them together. There are programs, like the Senior Medicare Patrol, that allow families to investigate any suspicious claims.
A significant case involved hospice care fraud in California, where operators bought Social Security numbers from illegal sources and falsified patient records, submitting claims for services that never occurred.
Utilizing credit monitoring services can help identify if personal information has been compromised online, as some even check the dark web for sensitive details like Social Security numbers, alerting you of any issues.
Create a family script for suspicious calls
While no safeguarding measures can prevent every suspicious call, here are two habits that may help:
- Set a family PIN: If a grandchild were to call in distress, but couldn’t mention the code, the call could be immediately cut off, preventing scammers from exploiting a cloned voice.
- Keep a list of what legitimate agencies never do: For instance, the Social Security Administration, IRS, and Medicare will not just call unannounced to ask for full Social Security numbers or demand payment in gift cards. Keeping this list nearby can be a simple yet effective safeguard.
What to do if ID fraud occurs
A pre-signed financial power of attorney will allow adult children to handle claims and disputes on their parent’s behalf without needing constant communication. This document eases the initial response to fraud by allowing immediate access to credit reports and submission to IdentityTheft.gov to initiate fraud alerts.
Some identity theft protection services also offer support for resolving such fraud incidents. If someone’s information is misused, professionals can assist in dealings with creditors and credit agencies, with some plans covering recovery costs.
No service can entirely prevent the misuse of an elderly person’s identity. However, having these measures in place can greatly reduce the time taken to respond to any potential fraud incidents.
Effective planning can truly save your parents from considerable stress, financial losses, and heaps of paperwork down the line.
