Tech Scammers exploited moms fears to steal her entire life's savings How to protect you and your loved ones from sophisticated scams Published December 23, 2024 6:00am EST close 'CyberGuy': How scammers exploited mom's fears to steal her life's savings Rising elder scams: How to recognize them and protect yourself and your loved ones. Tech expert Kurt Knutsson helps you outsmart the scammers. Imagine receiving a call that would change your life forever, one filled with urgency, authority and deception so convincing that even the most cautious could fall prey. Barb Gs story is one that no family should ever have to endure. She emailed us saying that her elderly mother, a former bookkeeper and a sharp, independent woman, fell victim to an elaborate scam that drained her life savings and exploited her trust."My 82-year-old mother was not only scammed out of her entire life savings, but after they drained her accounts, they then pretended to be the FBI. They told her she had been scammed, and they needed to protect her. They said they would be sending a car to pick her up in 20 minutes."The emotional toll of such elder fraud scams is immeasurable, leaving victims and their families grappling with feelings of betrayal, fear and helplessness. Here's how this particular scam unfolded and what you can do to protect yourself. A woman scrolling on her cellphone (Kurt "CyberGuy" Knutsson)How the scam played outThis was no ordinary scam. It involved manipulation, intimidation and psychological tactics so sophisticated that her mother was driven three and a half hours to a Bitcoin machine and coerced into maxing out her credit cards. As Barb further recounted, "After that, they dropped her at a hotel...told her not to call anyone or go out of the hotel for three days. They had someone watching the hotel to protect her."Even after her family rescued her, the scammers struck again. This time, they convinced her to hand over another $20,000, preying on the faint hope that she might still receive the promised $1 million. Barbs words echo a sentiment many families share:"Even when someone KNOWS they have been scammed, theres still a part of them that thinks the whole thing just might be real." A woman on her cellphone (Kurt "CyberGuy" Knutsson)The growing threat of elder scamsStories like Barbs are becoming alarmingly common. Scammers target older adults for several reasons: They often have accumulated savings, they may be less familiar with modern technology, and they are more likely to trust strangers. According to the Federal Trade Commission, seniors lose billions of dollars annually to fraud. The psychological toll is equally devastating, leaving victims ashamed, isolated and fearful. A woman navigating her cellphone (Kurt "CyberGuy" Knutsson)Common tactics scammers useScammers employ a variety of deceptive strategies to exploit unsuspecting victims. Here are some of the most common tactics they use:Impersonation scams: Posing as government officials, law enforcement or family membersPrize and lottery scams: Convincing victims they won a prize that requires upfront paymentTech support scams: Offeringfake tech help to gain remote access to devicesRomance scams: Building trust over time to exploit emotional vulnerabilityEmergency scams: Pretending a loved one is in danger and needs immediate financial help Illustration of a tech scam (Kurt "CyberGuy" Knutsson)Tips to protect yourself and your loved onesRecognizing the red flags is essential to avoid falling victim to scams. Here are some important red flags to be aware of.Unsolicited calls or emails: Be wary of anyone asking for personal or financial information. Legitimate organizations will not ask for sensitive information in this manner.Urgent requests for payment: Scammers often demand immediate action to avoid scrutiny. Take a moment to verify the request through official channels before responding.Unfamiliar contact information: Be cautious if the contact information provided does not match the official contact details of the company or organization.Untraceable payment methods: Requests for payment via gift cards, cryptocurrency or wire transfers are major warning signs. Reputable companies will not ask for these types of payments.Too-good-to-be-true offers: If an offer seems too good to be true, it likely is. Research and verify any claims before proceeding. Illustration of a tech scam (Kurt "CyberGuy" Knutsson)8 ways to protect yourself from being scammedProtecting yourself and your loved ones from scams requires vigilance and awareness. Here are eight effective ways to safeguard against scammers:1) Verify before you act: Always verify the identity of the person or organization contacting you. Use official contact information to reach out directly and confirm the legitimacy of the request.2) Limit personal information sharing: Avoid sharing personal or financial information over the phone, email or online unless you are certain of the recipient's identity and legitimacy.3) Invest in personal data removal services: Consider using a service that specializes in removing your personal information from the internet to reduce your exposure to potential scammers.Check out my top picks for data removal services here.4) Monitor financial accounts: Regularly check your bank and credit card statements for any unusual or unauthorized transactions. Promptly report any suspicious activity.5) Enable security features: Use strong, unique passwords for all your accounts and consider using apassword manager to generate and store complex passwords. Also, enabletwo-factor authentication for an extra layer of security.6) Be skeptical of unsolicited requests: Treat unexpected requests for money or personal information with caution. Scammers often create a sense of urgency to pressure you into acting quickly.7) Use strong antivirus software: Ensure your devices are protected with strong antivirus software that can detect and block malicious activities. The best way to safeguard yourself from malicious links that install malware, potentially accessing your private information, is to have antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your personal information and digital assets safe.Get my picks for the best 2024 antivirus protection winners for your Windows, Mac, Android and iOS devices.8) Report suspected scams: If you suspect you've encountered a scam, report it to your local authorities, the Federal Trade Commission and any relevant financial institutions.Kurt's key takeawaysScams are getting sneakier, but you're smarter. Trust your gut and remember: If something feels off, it probably is. Don't let the fear of scams isolate you or your loved ones. Instead, follow these tips so you can outsmart the scammers and keep your hard-earned money where it belongs: in your pockets. Remember, it's not about paranoia; it's about being prepared. So, next time you get that urgent call or too-good-to-be-true offer, take a deep breath and ask yourself: "What would Barb's mom do differently now?"Do you think the government, businesses or both should take greater responsibility in preventing elder scams and what specific actions should they take? Let us know by writing us at Cyberguy.com/Contact.For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter.Ask Kurt a question or let us know what stories you'd like us to cover.Follow Kurt on his social channels:Answers to the most asked CyberGuy questions:New from Kurt:Copyright 2024 CyberGuy.com.All rights reserved. Kurt "CyberGuy" Knutsson is an award-winning tech journalist who has a deep love of technology, gear and gadgets that make life better with his contributions for Fox News & FOX Business beginning mornings on "FOX & Friends." Got a tech question? 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