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By Spiro Verras

A convincing scam can reach anyone, at any age. It may arrive as a friendly conversation, an urgent request from someone who sounds like family, or a message that appears to come from your bank. Learning a few patterns can help you respond with confidence while continuing to enjoy the people and opportunities in your life.

A little time can make a big difference

Pressure is a useful warning sign. Before sending money or sharing information, give yourself room to check the story:
  • Pause when someone insists that a decision must be made immediately.
  • Contact the person or organization through a number you already know or find independently.
  • Talk the request through with a trusted friend, relative or adviser.
  • Keep passwords, account access codes and financial information private.
  • Check an unexpected payment request before opening a link or following instructions.
The Department of Justice warnings describe several familiar schemes. The Federal Trade Commission’s guidance on avoiding scams offers practical ways to verify unexpected requests. A familiar name on caller ID is not proof of who is calling; that information can be altered.

Recognizing common approaches

The details change, but the aim is often to persuade someone to act before there is time to ask questions. Here are examples worth discussing with your family. Our related article on elder scams provides another starting point for that conversation. Useful patterns to recognize include:
  1. Pressure from someone you know: Financial exploitation can involve a relative, caregiver or other trusted person. Unexplained transactions or pressure to sign a document deserve attention. Arrange for independent advice before changing ownership, beneficiary designations or someone else’s authority over your money. The Department of Justice’s financial exploitation guidance describes these concerns.
  2. Requests for personal information: An unexpected message may ask you to confirm an account number or Social Security number. Contact the organization independently to check whether it needs anything from you. A link in the message is not an independent way to verify it.
  3. Calls that appear to be local: A caller may use a familiar area code or a recognizable organization’s name. Hang up and call a verified number if the request concerns your money or account access.
  4. Prizes and sweepstakes: A claimed prize that requires advance payment for taxes, fees or delivery is a warning sign. The practical takeaway is: Take time to verify the offer before paying or sharing information.
  5. Family emergencies and familiar voices: A caller may claim that a grandchild or another loved one urgently needs money. The FTC warns that AI can be used to imitate a family member’s voice. Call your loved one on a known number, or reach another trusted person who can check the situation.
  6. Government or bank impersonation: A person claiming official authority may demand immediate payment or instruct you to move savings into a supposedly safe account. Stop the conversation and contact the agency or bank independently. Requests for gift cards or cryptocurrency, or instructions to keep the transaction secret, warrant particular caution.
  7. Unexpected invoices and refunds: A message may claim that a subscription renewed and direct you to call for a refund. Check your account directly. A caller who wants remote access to your computer or asks you to return an alleged overpayment may be part of a scheme described in the FTC’s tech support scam guidance.
  8. Online relationships followed by requests for money: Enjoying a new connection should not require financing a stranger’s emergency, travel or investment proposal. The FTC’s romance scam guidance recommends against sending money or gifts to a romantic contact you have not met in person.
  9. Computer warnings and unsolicited support: A pop-up or unexpected caller may claim your device is infected and offer to fix it. Seek help through a provider you know and contact yourself. Avoid giving remote access in response to an unsolicited warning.

Make support part of your plan

Consider discussing account alerts and a trusted-contact arrangement with your financial institution. A trusted contact can be someone the institution calls about a concern; that role does not itself give the person access to your money. The Consumer Financial Protection Bureau’s planning guidance explains the distinction between a trusted contact and a person with legal authority to act for you. An estate plan can identify appropriate people to help with decisions and set the terms of their authority. A durable power of attorney or trust deserves careful attention to who will serve, what they may do and how their work will be reviewed. These documents are part of a practical support system; they do not guarantee protection against fraud. If you have already sent money, contact your bank or the payment provider promptly and ask whether the payment can be stopped, reversed or recovered. Save messages and transaction records. The FTC’s steps to take after a scam explain the options for different payment methods. Report the experience at ReportFraud.ftc.gov; if someone has used your personal information, IdentityTheft.gov can help you make a recovery plan. Recovery is not assured, but prompt action gives you a useful place to start. You deserve support without embarrassment or blame. If this experience has prompted questions about the people and documents in your estate plan, Spiro Verras can help you review those arrangements and coordinate with other professionals when helpful. Contact Verras Law to arrange a conversation at the office or by Zoom or teleconference.