Phone calls that sound exactly like your grandchild. Emails that look like they’re from your bank. Texts that know your name and your address. AI has made financial scams targeting older adults more convincing than ever — and the losses are staggering.
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If you have a parent or older loved one in your life, you've probably already thought about this. Scams targeting older adults have always been a problem, but AI has changed the game in a big way. And most families are surprised by how sophisticated these attacks have become.

The good news? You don’t need to be a tech expert to protect someone you care about. You just need to know what’s out there, and have a plan.

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WHAT’S CHANGED

This isn’t your average phishing scam.

We’ve seen the “old-fashioned” scam emails — clunky grammar, generic greetings, and other obvious red flags. Those still exist. But AI tools have given bad actors the ability to do something far more dangerous: they can now personalize attacks at scale, using real names, real relationships, and voices that sound exactly like someone you love.

Voice cloning call

‍Grandma, it’s me — I’m in trouble. I need you to wire $5,000 right now. Please don’t tell Mom.”

‍✓  The voice is cloned from social media. It sounds real. It isn’t.

Personalized bank emails

An email from “your bank” references your account, uses your name, and warns that suspicious activity requires you to click a link to verify your identity.

✓  Hover the link. The domain won’t match your real bank.

Targeted text messages

“Hi Bob, this is Jake — I need to confirm your SSN to claim your stimulus payment. Can you send it over?”

✓  Government agencies never ask for SSNs by text. Ever.

AI chatbot “customer service”

A “live agent” on a website chat walks your parent through “verifying their account” — asking for passwords, PIN numbers, or security question answers.

✓  Real reps don't need your password or PIN to help you. If a chat agent asks, it's not legitimate.

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WHAT TO WATCH FOR

Red flags worth knowing

• Urgency and emotion: Scammers create panic: “Your grandson is in jail!” or “Your account will be closed in 24 hours!” Real institutions give you time to verify.
• Unsolicited contact out of nowhere: You didn’t call them — they called you. That alone is a reason to pause and verify before sharing anything.
• Requests for gift cards or wire transfers: This is how fraud payments are collected. No legitimate business, government agency, or family emergency requires a gift card.
• Something feels slightly “off”: AI voices can be eerily accurate, but they sometimes pause strangely or mispronounce a word. Trust that instinct — it’s worth a callback.

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WHAT YOU CAN DO

Five practical ways to help protect a loved one

1. Practice the “pause and call back” rule together. Help your loved one build a habit: no matter how urgent something sounds, hang up and call the person or company back on a number you already know. Role-play a few scenarios so it feels natural.
2. Set up a family codeword for emergencies. Agree on a simple word or phrase that any family member would know but a scammer wouldn’t. If “grandchild in trouble” can’t say the word, it’s not your grandchild.
3. Enable call-blocking and spam filters. Most smartphones and carriers offer tools to screen or block suspected scam calls. Set these up together on a Sunday afternoon; it takes about 15 minutes.
4. Consider a spending card with controls built in. Tools like the True Link Visa® Card let families set spending rules — limiting large transfers, blocking certain transaction types, and flagging unusual activity — so there’s a safety net even if a scam isn’t caught at the moment.‍
5. Know where to report it if something happens. The FTC (ftc.gov/complaint) and the FBI’s IC3 portal (ic3.gov) both accept reports. Acting fast improves the odds of recovery, so make sure your loved one knows who to call.

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A little protection goes a long way

True Link was built for exactly this kind of worry. We help you set spending guardrails that help protect against these financial scams and unauthorized charges — without taking away your loved one’s financial independence. We’re here to help you find the right fit.

Learn more at truelinkfinancial.com.

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* FBI’s Internet Crime Complaint Center (IC3) 2024 Internet Crime Report
** 2024 FBI report regarding elder fraud