TruCommunity Blog

TruBank cares deeply about protecting our customers—especially older adults—from financial fraud. Each year, older adults fall victim to financial abuse costing them an estimated $27 billion as cited by the FDIC.

Scammers are constantly evolving their tactics to trick individuals into giving up personal or financial information. That’s why staying informed is one of the best defenses.

Here are some common scams targeting older adults:

• Imposter Scams – fraudsters pretending to be someone you trust requesting money urgently due to an emergency
• Tech Support Scams – pop-up or unexpected phone call stating there is a problem with your computer or device and ask for remote access
• Romance Scams – online relationships with someone never met in person
• Lottery or Prize Scams – request to pay a fee or provide personal information to claim an unexpected prize
• Investment or Government Impersonation Scams – fraudsters posing as the IRS, Medicare, or Social Security demanding payment or personal information or investors promising a guaranteed return

It is vital to take precautions to prevent exploitation against older Americans against these common scams. Here are some suggestions for protecting yourself and your loved ones:

1. Closely monitor your credit card and bank account activity. Report any unauthorized or suspicious transactions as soon as possible to TruBank.
2. Protect your personal information by never giving out your bank account number, social security number, passwords or other sensitive information unless you initiate the contact through a legitimate webpage or phone number.
3. You may want to have a power of attorney but make sure you are comfortable and trusting of the representative named.
4. Take your time when deciding on a major financial decision or investment so you understand it and have all your questions answered. Walk away from anyone who states you must decide to take action right now.
5. Sign up for the national Do Not Call Registry to reduce the number of telemarketing calls. (http://www.donotcall.gov/).
6. Do not comply with requests from strangers to deposit a check into your account and then purchase gift cards on their behalf. These are likely fake checks.
7. Be cautious about personal information shared on social media as fraudsters can easily identify birthdates, grandchildren names, and other information that could be used in imposter scams.

How We Can Help

TruBank is committed to your financial security. If you ever receive a suspicious call, text, or email involving your finances, reach out to us right away. We’ll help you determine whether it’s legitimate and what to do next.

And if you're helping care for a parent or older loved one, we encourage you to talk with them about these types of scams. A simple conversation can help prevent financial loss and heartache.

For more resources on scam prevention, visit: FDIC’s Consumer Resource Center