7 Latest Cyber Scams Targeting Seniors

Elder fraud can take many forms and is a growing problem both in Canada and around the world. With a general rise in online scams — and seniors’ increased adoption of smartphones and the internet — cyber scams targeting Canada’s older population are resulting in staggering financial losses.  In 2023 alone, $11.3 million in losses were reported by seniors who fell victim to the popular “grandparent scam,” according to the Canadian Anti-Fraud Centre (CAFC), and experts warn that this represents only a fraction of actual cases, as many incidents go unreported.

Worldwide, the story is much the same, as defrauding older adults has become a lucrative business. The National Council on Aging reports that globally, people age 60+ lost a combined $3.4 billion to financial scammers in 2023. The report notes that criminals most commonly target seniors with tech support, grandparent, and government impersonation scams, all of which work by gaining trust and creating a false sense of urgency.

Why are seniors targeted for cyber scams?

There are several reasons seniors are common targets for fraudsters and cyber criminals.

• Availability. For one, seniors may be less mobile, less socially active, and therefore more available to read all their emails, answer the phone, and respond to texts from strangers. This level of availability makes it easier for scammers to establish contact.

• Loneliness. Seniors who live alone are especially vulnerable to scammers who prey on their isolation. A friendly email or voice on the phone can go a long way to gaining trust quickly.

• A nest egg. Retired seniors are more likely than younger Canadians to have a nest egg of savings that’s relatively easy to access.

• Online presence with limited confidence. More seniors have a smartphone and browse the internet. According to Pew Research Center, 61 per cent of seniors own a smartphone and 75 per cent surf the internet. But, most aren’t tech savvy — only 26 per cent of senior internet users feel “very confident” when using computers and smartphones.

As a senior, there are steps you can take to reduce the likelihood that you will become a victim of cyber scams. Start by learning about the latest cyber scams targeting seniors below, and then follow our Cybersecurity Checklist for Seniors for tips on putting safety measures in place. Concerned about a senior in your life? Check out our complete guide on how to protect seniors from financial fraud.

Seniors: Watch out for these 7 common cyber scams

1. Phishing scams

Phishing is a common online scam designed to trick you into disclosing personal or financial information for the purpose of financial fraud or identity theft.

In this case, scammers will send an email that appears to be from a legitimate source and direct you to a fake website. That fake website will look authentic by copying the brand name and logo of the real company. This phoney site will then ask you for personal information such as credit card numbers, account numbers, passwords, date of birth, driver’s license number, and social insurance or social security numbers. While you may think you are giving your information to a valid company, you may instead be providing it to a fraudster!

How to protect yourself:

• Never click on a link in an unsolicited email.

• If an email appears to be from someone you know but seems unusual in any way, try to reach the sender another way — such as by phone — to verify the email is legitimate.

• Before you enter confidential or financial information online, check for the lock icon on your browser. Ensure the URL in the browser address bar starts with “https.”

2. Smishing scams

Smishing is similar to phishing but uses SMS messaging (a.k.a. text messages) to reach targets.

Attacks via smishing (a blend of the words “phishing” and “SMS”) have become more common given the open and response rates to text messages. While only 20 per cent of emails are opened, and 6 per cent are replied to, those numbers rise to 90 per cent and 45 per cent for text/SMS messages. Research suggests people are more likely to trust a message that comes in through text versus email, and are largely unaware of smishing attacks.

How to protect yourself:

• Never click on a link in an unsolicited text.

• Call the (apparent) sender directly. Legitimate companies and financial institutions don’t request account updates or login information via text. It’s always a good idea to confirm any requests received by text by calling the organization’s official number (i.e., the one on their official website, not the number contained in the message).

• Check the phone number. Odd-looking phone numbers, such as 4-digit ones, can be evidence of email-to-text services. This is one of many tactics a scammer can use to mask their true phone number.

3. Scam calls

While not technically a “cyber” scam, phone scamming is a particularly effective tactic used against seniors, and the recent “grandparent scam” preys on emotions and a natural tendency to protect loved ones.

In this scam, a grandparent receives a phone call from a con artist pretending to be their grandchild. Their fake grandchild pretends to be in a crisis (in jail, in a car accident, or trying to return home from a foreign country) and needs money immediately.

Often, the imposter will ask the grandparent to “keep the information from mom and dad,” swearing the grandparent to secrecy. They may even pretend to hand the phone over to someone posing as a lawyer seeking immediate payment. As these scams become more sophisticated, scammers are now using artificial intelligence technology to mimic voices, convincing people that their loved ones are in distress.

How to protect yourself:

• If you’re being pressured for information or to send money quickly, stop and question whether this situation seems real.

• If you receive a call like this, hang up and report it immediately to the Canadian Anti-Fraud Centre.

• To ease your mind, call or text your family members directly to make sure they’re not in trouble.

4. Romance scams

More and more seniors are turning online to meet new people, and for those looking to start over following a divorce or the death of a spouse, the internet may represent a less intimidating way to get started.

Unfortunately, romance scams are on the rise — in 2024, romance scams were among the top three frauds in terms of financial impact, with a reported $58.4 million in losses, according to the Canadian Anti-Fraud Centre. Using dating, gaming, and social media websites, they pose as real people looking to connect. After striking up a relationship and establishing trust — and often after months of texting, emailing, or talking — scammers will request money.

Why do scammers target seniors? Zeroing in on individuals recently divorced or widowed, they see seniors as particularly vulnerable with access to cash. Our article 5 Ways to Spot a Romance Scam has more red flags to watch out for and how to protect yourself.

5. Tech-support scams & fake computer warnings

As technology becomes more complex, many seniors rely on online support or pop-up alerts to help diagnose and fix computer issues. Scammers exploit this by creating fake warnings that appear legitimate, claiming a virus has been detected or a device has been compromised.

Once contact is made, scammers may offer to “fix” the problem for a fee or ask for remote access to the computer. This can lead to theft of personal data, installation of malicious software, or unauthorized financial transactions.

Seniors are frequently targeted because of a real or perceived lack of confidence in technical abilities, along with a greater tendency to follow what appears to be expert advice.

How to protect yourself:

• Do not call a number or click a link that appears on your screen in an alert window.

• Close the browser or shut down your device if you receive a suspicious warning.

• Call someone for help, such as a trusted friend or family member, or the store where you bought your computer.

6. Impersonation scams

In impersonation scams, fraudsters contact seniors pretending to be bank employees, government agents (such as the Canada Revenue Agency), law enforcement officers, or representatives from utility companies. They claim there is an urgent problem – such as suspicious account activity, unpaid taxes, or the threat of legal action – and pressure the victim into providing personal information, passwords, or payment. Some scammers even use spoofing technology to make their caller ID appear legitimate.

One recent example of an impersonation scam is the “Gold Scam,” where a caller insists the individual must urgently withdraw money from their accounts to purchase gold in order to secure their funds. Once the gold is purchased, the caller will make arrangements to have the gold picked up, advising them it will be sent to a secure location. Learn more about the Gold Scam here.

How to protect yourself:

• Remember that Canadian banks and government agencies will never:

• Ask you to convert funds into gold, silver, precious metals, cash, or gift cards in order to secure them.

• Make arrangements to retrieve your funds from a home or a meet-up location to hold them for safekeeping.

• Ask you to keep the situation a secret from other bank employees.

• Ask you to initiate any type of transaction on their behalf.

• Ask you to provide one-time codes through SMS, emails, or voicemail to identify yourself.

• Request remote access to your device.

• Access your online banking in order to add payees on your behalf.

• Use threatening language or demand immediate action.

• Do not provide any banking information to anyone who calls you, including Online Banking passwords, answers to security questions, client card/credit card PIN, or account details.

• Never send a payment or Interac e-Transfer at the request of someone advising you they are a bank or government employee. Also, don’t share security questions for transfers.

• If you receive a suspicious call or message, hang up and call the official number on the organization’s website to verify the request.

• Report suspected impersonation scams to the Canadian Anti-Fraud Centre.

7. Lottery & sweepstakes scams

In these scams, victims are told they have won a large prize, such as cash, a vacation, or a luxury vehicle. To “claim” the prize, they must first pay fees, taxes or insurance, or provide personal financial information. Once payment is sent, the scammer disappears. The prize never existed.

While these scams can be very convincing – and frequently target seniors – there are some red flags to watch out for. These include:

• Unsolicited notifications saying you’ve won a contest you never entered.

• Requests to keep the win a secret or pay fees upfront.

• Communications containing spelling errors, generic greetings, or suspicious email addresses.

How to protect yourself:

• Verify the source – if you get notified of a lottery or sweepstakes win, research the company contacting you through their official website.

• If you receive a fraudulent message, delete it without responding. Engaging in any way only makes you a target for more fraud.

• Talk to someone you trust. Discussing any unexpected prize notifications with a trusted family member or friend can help you see the warning signs more clearly.

• Remember that you never have to pay to claim a legitimate prize in Canada.

What to do if you’ve been scammed

If you believe you have been scammed, taking immediate action can help limit your financial losses and prevent further contact. Here are important steps to follow:

• Stop all communication with the scammer immediately.

• Contact your financial institution to freeze or flag your accounts and stop any unauthorized transactions.

• Change your passwords on all affected accounts and set up multi-factor authentication.

• Report the incident to the Canadian Anti-Fraud Centre (1-888-495-8501) and your local police.

• Notify credit bureaus (Equifax Canada and TransUnion Canada) to place a fraud alert on your file if personal information was shared.

• Document everything, including emails, phone numbers, screenshots, and financial transactions related to the scam.

• Get help from a trusted family member, caregiver, or advisor who can help you complete these steps and initiate any follow-ups as needed.

Reporting fraud to RBC

If you believe your confidential information may have been stolen or obtained by a fraudulent party either online, by telephone, or through any other means, call us immediately.

For general inquiries or comments regarding Privacy and Security, please also call us. 

• 1-800-769-2511 (telephone banking)

• 1-800-769-2555 (online/mobile banking)

• 1-800-769-2512 (credit cards)

• 1-800-769-2535 (RBC Express online banking Client Support Centre) 

Unfortunately, older Canadians are attractive targets for cyber criminals who prey on the vulnerabilities and tendencies of seniors. Being aware of the types of cyber risks that exist can help protect yourself and the people you care about.