Protecting Mom and Dad: Easy Ways to Fight Fraud Together
Published: May 7, 2025
Safeguarding Senior Finances
Wednesday, May 14 | 6:00 PM ET
Join us for a special Older Americans Month webinar focused on preventing scams and protecting senior finances—with helpful tips for both older adults and the loved ones who support them.
As our parents grow older, we find ourselves taking on new roles in their lives—caregiver, advisor, advocate. One of the most important responsibilities we can embrace is helping them stay safe from identity theft and financial scams. Fraud targeting seniors is on the rise, and criminals are becoming more sophisticated, often preying on trust, routine, and isolation.
Whether your parent is tech-savvy or prefers pen and paper, there are practical, respectful ways you can support them in keeping their finances—and their peace of mind—secure.
Start with Awareness
Many scams succeed simply because the victim didn’t know what to look for. Talk with your parent about common red flags like:
- High-pressure calls claiming to be from the IRS, Medicare, or their bank
- Requests for payment in gift cards or wire transfers
- Emotional pleas from fake relatives ("Grandparent scams")
- Offers that seem “too good to be true”
Encourage a healthy dose of skepticism—and create a safe space where they feel comfortable asking, “Does this sound right to you?”
Set Up Fraud Prevention Tools
Here are some easy but powerful steps adult children can take:
- Help them go paperless to reduce mail theft
- Set up bank account alerts for large transactions or login attempts
- Encourage use of credit cards over debit for better fraud protection
- Register their phone number on the Do Not Call list (donotcall.gov)
- Review their credit reports together at AnnualCreditReport.com
- Consider a credit freeze if they’re not applying for new credit
Simplify and Monitor
Help reduce risk by:
- Closing old or unused financial accounts
- Making a list of all automatic payments and subscriptions
- Reviewing account and credit card statements monthly
- Storing sensitive documents in a fireproof safe or locked drawer
If needed, consider setting up limited account access or a trusted contact designation with their financial institutions—so you can be alerted to any unusual activity without full control.
Post a Scam Safety Sheet by the Phone
We’ve created a printable Scam Safety Sheet that you can tape by the phone or near the computer. It outlines:
- What not to share
- Common scam phrases
- What to do instead
- Trusted callback numbers
Download it here
Having a visual reminder nearby helps reinforce safer habits and gives your loved one a clear action plan if they’re ever unsure.
Talk About It Early—and Often
Protecting your parent doesn’t mean controlling their finances—it means empowering them. Fraud can happen to anyone, and shame keeps many older adults silent. Let them know that no question is too small, and that scams are designed to trick even the smartest people.
If you notice signs like secrecy around money, sudden withdrawals, or anxiety about calls or mail, it might be time to gently step in and investigate.
Final Thoughts
You don’t need to be a cybersecurity expert to protect your parent—you just need to be proactive, compassionate, and informed. A few small changes today could protect them from major losses tomorrow.
Because at the end of the day, this isn’t just about money. It’s about dignity, security, and showing up for the people who showed up for us.
Upcoming Webinar: Safeguarding Senior Finances
Wednesday, May 14 | 6:00 PM ET
Join us for a special Older Americans Month webinar focused on preventing scams and protecting senior finances—with helpful tips for both older adults and the loved ones who support them.
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