How adults can protect themselves from financial scams as more older adults fall victim

In 2023, scammers stole $127 million from older adults in Arizona — the sixth highest amount in the nation, according to an FBI report.

"Statistics have shown that they do go after the older population and a lot of that is that, that's where a lot of the money is," said Rae Vermeal, the supervisor for rights and benefits at Pima Council on Aging, a nonprofit organization that provides resources for older adults.

Vermeal said, many older adults have investments and savings, and they can be more trusting.

"There is still a generation that used to do business with a handshake and trust someone if they tell you that they're going to do something," Vermeal said. "It's hard to instill in people, 'No, you you have to be on the lookout.'"

It's a mindset familiar to 77-year-old Gloria Olvera, who said, she has a "bad habit" of calling everybody "Hun" or "sweet pea."

She said, she thinks that puts a target on her for scammers to take advantage of her.

In April, Olvera said, she hired a landscaper. After he completed the front yard, he texted her, in part, "I will return in the morning to finish what we had agreed on."

Trusting that he would finish the job while she went to other appointments, she said, she left a check for him in the yard with the side gate unlocked.

However, that afternoon, she said, she came home to find the check was gone, but the shrubs in her backyard weren't, and the landscaper hadn't responded to any calls or messages.

“Lo and behold, the check was gone. The gift card I'd given him for his son was gone," Olvera said. "And, I stood there looking like an idiot thinking, 'Why did you do that? Why?'”

Gloria Olvera

Olvera said, she immediately went to the bank to stop the payment from going through.

“Oh my God. I was in tears. I think they thought something horrible had happened to me, and it did," Olvera said.

While Olvera said she is more wary of scammers, she said, she chose not to file a police report.

“I got to thinking, I can't do that. I have grandchildren the age of his son," Olvera said.

Pima County Sheriff's Department Detective Tyler Rivas works in the Financial Crimes and Fraud Unit. He said, it's not uncommon to hear about scams after the fact that went unreported.

"They just didn't think it was a big deal. But, all these things are big deals, you know they were victim of a crime," Rivas said.

Rivas said, older adults don't report fraud as often as the younger generation, but, in turn, they are also more likely to be scammed out of more money.

Rivas provided advice on how older adults can protect themselves from being scammed.

• Utilize online banking to get notified of a scam
• Question who you're dealing with
• Be your own investigator
• Do your due diligence
• Follow the 50/50 rule — Pay 50% upfront, if they need it, then 50% again when the job is done

Maria Staubs

Olveras said, she learned an "ugly" lesson to "be less trusting."

If an older adult has fallen for a scam, it's important to file a police report or call the National Elder Fraud Hotline: 833–372–8311.

"They have case managers that will talk with that person," Vermeal said. "They will even help them, if necessary, to report to the different agencies that need to know, like the FBI or the Federal Trade Commission."